Feb 13, 2018
2 minutes
The Buckle's January comps inch up 0.2%, adds Kari Smith to board
Feb 13, 2018
The Buckle reported its January, fourth quarter and year-end sales numbers late last week.
Total net sales for the 5-week fiscal month ended February 3, 2018 increased 27.1 percent to $55.7 million from net sales of $43.9 million for the prior year, which was a 4-week fiscal month ended January 28, 2017.
Comparable store net sales, for stores open at least one year, for the five-week period ended February 3, 2018 rose by 0.2 percent from the same five-week period in 2017.
This marked the first positive comps — even if too marginal to offset previous declines — since mid-2015, for the denim-focused retailer. Like many of its apparel peers, Buckle has been struggling to grow same-store sales.
Underscoring that, same-store sales for Q4 ended February 3 showed a decline of 3.2 percent from the same period prior year. Net sales for the fourth quarter crept up 0.4 percent from $280 million to $281.2 million.
Fiscal year figures offered little respite. Net sales for the fiscal year ended February 3, 2018 decreased 6.3 percent to $913.4 million from $974.9 million in 2017.
In a separate press release, Buckle announced the appointment of Kari Smith to its board of directors, effective February 4. Smith currently serves as Executive Vice President of Stores at Buckle, a position she has held since February 2014. She has been employed by the firm since May 1978 and served as Vice President of Sales from May 2001 until she was appointed to the position of Executive Vice President of Stores. Smith will serve as a member of the board’s Executive Committee, said the firm in a statement.
Based in Kearney, Nebraska, Buckle currently operates 457 retail stores in 44 states, down from 465 as of this time last year.
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