US' fashion retailer Buckle reports 4% net sales growth in Q3 FY22

Buckle’s comparable store net sales for the 13-week period ended October 29, 2022, increased 3 per cent from comparable store net sales for the prior year’s 13-week period ended October 30, 2021. Online sales increased 5.3 per cent to $155.6 million in Q3 FY22, compared to net sales of $147.7 million in Q3 FY21. The company’s gross profit was $165.401 million in Q3 FY22, compared to $161.066 million in Q3 FY21.

Net sales for the 39-week fiscal period ended October 29, 2022, increased 3.3 per cent to $943.4 million from net sales of $913.7 million for the corresponding period of the prior year. The comparable store net sales for the first three quarters of fiscal 2022 increased 2.8 per cent from comparable store net sales for the corresponding period of the prior year, while the online sales increased 5.3 per cent to $155.6 million in fiscal 2022, compared to net sales of $147.7 million for the first three quarters ended October 30, 2021, the company said in a press release.

Buckle’s net income for the first three quarters of FY22 was $166.8 million, or $3.39 per share ($3.37 per share on a diluted basis), compared with net income of $170.9 million, or $3.49 per share ($3.46 per share on a diluted basis) for the for the first three quarters of 2021.

The company’s total assets in the first three quarters of FY22 were $884.147 million, compared to $993.830 million for the corresponding period of FY21. Furthermore, the total liabilities in the first three quarters of FY22 were $448.540 million, compared to $468.026 million for the same period of FY21.

Fibre2Fashion News Desk (DP)