Clothing and shoe retailer Buckle Inc has reported net income down 12.1 percent on a 1.7 percent net sales decrease for the second quarter ended July 29th 2006.
Net income for the second quarter of fiscal 2006 decreased 12.1 percent to $6.6 million, or 34 cents per share (33 cents per share on a diluted basis), compared to net income of $7.6 million, or 39 cents per share (38 cents per share on a diluted basis) for the second quarter of fiscal 2005.
Net sales for the second quarter ended July 29, 2006, decreased 1.7 percent to $102.4 million compared to net sales of $104.1 million for the second quarter of fiscal 2005. Comparable store net sales, for stores open at least one year, declined 5.7 percent for the quarter ended July 29, 2006, compared with the quarter ended July 30, 2005.
Net income for the six months ended July 29, 2006 declined 1.1 percent to $16.0 million or 83 cents per share (80 cents per share on a diluted basis), compared with $16.2 million or 81 cents per share (78 cents per share on a diluted basis) for the six months ended July 30, 2005.
Net sales for the first six months of fiscal 2006 increased 1.1 percent to $212.0 million compared to net sales of $209.7 million in the first six months of fiscal 2005. Comparable store net sales declined 3.4 percent for the six months ended July 29, 2006 compared with the six months ended July 30, 2005.
During the quarter ended July 29, 2006, the company repurchased 84,900 shares of its common stock at an average price of $40.62 per share.
Headquartered in Kearney, Nebraska, Buckle Inc is a retailer of casual apparel, footwear and accessories for young men and women. It currently operates 346 retail stores in 38 states compared with 333 stores in 38 states at this same time a year ago.
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