US fashion retailer Buckle's net sales at $282.8 mn in Q1 FY23

30 May '23

1 min read

Pic: JHVEPhoto / Shutterstock.com

Insights

American fashion retailer Buckle's net sales dropped 8.5 per cent year-on-year (YoY) to $282.8 million in Q1 FY23.
The company's comparable store sales were down 9.2 per cent, while online sales also fell by 5.6 per cent.
Net income stood at $42.9 million in Q1 FY23, a drop from $55.3 million in the corresponding period of the previous fiscal.

US-based fashion retailer Buckle, Inc has reported a decrease of 8.5 per cent in net sales to $282.8 million in the first quarter (Q1) of fiscal 2023 (FY23), compared to $309.1 million in the same period last year.

Notably, comparable store net sales for Q1 FY23 decreased 9.2 per cent from the same period last year. The retailer also experienced a downturn in its online sales, which decreased 5.6 per cent to $51.3 million. This is compared to net sales of $54.3 million for the equivalent period in 2022, the company said in a media release.

Buckle's net income for Q1 FY23 was reported at $42.9 million, or $0.87 per share ($0.86 per share on a diluted basis). This is a significant decrease compared to the first quarter of fiscal 2022, where the company reported net income of $55.3 million, or $1.12 per share.

Fibre2Fashion News Desk (DP)

More Buckle Inc News... More Retail News - United States Of America...