The Buckle, Inc. announced today that net earnings of $34.7 million for the fiscal quarter ended August 1, 2020, or $0.71 per share ($0.71 per share on a diluted basis).
Net sales for the 13-week quarter that is financial August 1, 2020 increased 6.0 % to $216.0 million from net product sales of $203.8 million for the prior 12 months 13-week fiscal quarter finished August 3, 2019. Online sales increased 99.0 percent to $46.0 million for the duration that is 13-week August 1, 2020, compared to internet product sales of $23.1 million for the 13-week period ended August 3, 2019.
Web product sales for the 26-week period that is fiscal August 1, 2020 decreased 18.2 percent to $331.4 million from net sales of $405.1 million for the last year 26-week fiscal period ended August 3, 2019. In the web product sales increased 64.3 percent to $78.1 million for the time scale that is 26-week August 1, 2020, compared to net sales of $47.5 million for the duration that is 26-week August 3, 2019. Net gain for the second quarter of fiscal 2020 was $34.7 million, or $0.71 per share ($0.71 per share on a basis that is diluted, in contrast to $16.4 million, or $0.34 per share ($0.34 per share on a basis that is diluted for the second quarter of financial 2019.
As formerly announced, Buckle temporarily shut all brick and mortar stores due to the pandemic that is COVID-19 March 18, 2020. The organization began the method of reopening particular stores the week of April 26, 2020, following state and local reopening guidelines. As of 1, 2020, 431 of Buckle’s 446 stores were august that is open. Of the 15 shops which were closed, 2 have perhaps not yet reopened due to damage suffered through the closing period. The remaining 13 stores are positioned in California and had formerly reopened but were subsequently closed again during in accordance with state guidelines july. The Company’s on line shop has remained open without disruption.
Management will hold a conference call at 10:00 a.m. EDT to discuss outcomes for the quarter today. The conference guideline 9361957 to participate in the phone call, please call (877) 226-8216 for domestic phone calls or (409) 207-6983 for international calls and guide. A replay of this call will be available for a duration that is two-week today at 1:00 p.m. EDT by calling (866) 207-1041 for domestic calls or (402) 970-0847 for international calls and starting the conference code 2314297.
Providing a unique mix of high-quality, on-trend clothing, accessories, and footwear, Buckle suits fashion-conscious young men and females. Known as a denim location, each shop carries a wide selection of fits, designs, and completes from leading denim brands, including the Company’s brand that is exclusive BKE. Headquartered in Kearney, Nebraska, Buckle presently operates 446 shops that are retail 42 states. At the time of the end of the quarter that is fiscal it operated 446 stores in 42 states in contrast to 449 shops in 42 states during the end of the quarter that is second of 2019. The Buckle Inc. announced today that net earnings of $34.7 million.