Buckle 4Q net income rises 9 pct
Buckle 4th-qtr net income up 9 pct on higher online sales, beats Wall Street predictions
KEARNEY, Neb. (AP) -- Buckle's fourth-quarter net income rose 9 percent, driven by growing online clothing sales.
For the quarter ended Feb. 2, the Kearney, Neb., retailer earned $61.4 million, or $1.28 per share, up from $56.1 million, or $1.18 per share, in the same quarter last year.
Revenue rose 7 percent to $360.6 million from $337.1 million.
Buckle topped Wall Street expectations of $1.25 per share in earnings, according to a poll by FactSet, but fell short of the $356.5 million in revenue that had been predicted.
Revenue at stores open at least a year was flat. It's a key measure of a retailer's heath because it discards the volatility of stores recently opened or closed.
Online sales, which aren't included in that figure, increased 5 percent to $29.1 million.
For the full fiscal year, Buckle earned $164.3 million, or $3.44 per share, up from $151.5 million, or $3.20 per share in 2011. Revenue increased to $1.12 billion from $1.06 billion.
Buckle Inc. operates 441 stores in 43 states.
