The Buckle Inc, a US-based fashion retailer, posted 42.7 per cent decrease in its net sales to $115.4 million in first quarter (Q1) FY20, ended on May 2, 2020, compared to $201.3 million in same period last year. However, online sales for the quarter rose 31.5 percent to $32.1 million (Q1 FY19: $24.4 million). Net loss during Q1 FY20 were $11.7 million.
The Buckle Inc, a US-based fashion retailer, posted 42.7 per cent decrease in its net sales to $115.4 million in first quarter (Q1) FY20, ended on May 2, 2020, compared to $201.3 million in same period last year. However, online sales for the quarter rose 31.5 percent to $32.1 million (Q1 FY19: $24.4 million). Net loss during Q1 FY20 were $11.7 million.#
Buckle closed all brick and mortar stores due to the Covid-19 pandemic for an indefinite period beginning March 18, 2020. The company began the process of reopening certain stores the week of April 26, 2020, following state and local reopening guidelines.
The Buckle Inc, a US-based fashion retailer, posted 42.7 per cent decrease in its net sales to $115.4 million in first quarter (Q1) FY20, ended on May 2, 2020, compared to $201.3 million in same period last year. However, online sales for the quarter rose 31.5 percent to $32.1 million (Q1 FY19: $24.4 million). Net loss during Q1 FY20 were $11.7 million.#
Gross profit for the quarter were $26.8 million ($76.6 million). Selling, general and administrative expenses for Q1 FY20 declined to $43.0 million ($57.9 million). Company incurred a loss from operation of $16.1 million compared to income from operation of $18.7 million in same period last year.
Fibre2Fashion News Desk (JL)
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