US' Buckle Q3 sales drop 3.2% YoY, net income hits $44.2 million

Net income of the company for the Q3 2024 was $44.2 million, or $0.89 per share ($0.88 per share on a diluted basis), compared with net income of $51.8 million, or $1.05 per share ($1.04 per share on a diluted basis) for the third quarter of fiscal 2023. The online sales of the company increased 1.1 per cent YoY to $46.6 million for Q3 ended November 2, 2024, compared to $46.1 million for the same quarter in 2023, said Buckle in a press release.

Nine-month financial

The net sales for the nine-month (9M) period decreased 4.6 per cent YoY to $838.5 million from net sales of $878.7 million for the prior year 9M period. The comparable store net sales for the same period decreased 5.4 per cent from comparable store net sales for the prior year 39-week period ended November 4, 2023. Online sales of the company decreased 9.2 per cent YoY to $128.0 million.

The net income reached $118.3 million, or $2.37 per share ($2.35 per share on a diluted basis), compared with net income of $140.3 million, or $2.83 per share ($2.81 per share on a diluted basis) for the 39-week period ended October 28, 2023.

Fibre2Fashion News Desk (SG)