Buckle sees uptick of 12% in third-quarter sales
Kearney, Nebraska-based apparel retailer The Buckle, Inc. has built on the signs of recovery seen in the second quarter and posted a 12.0% year-over-year increase in its Q3 sales.
For the third quarter ended October 31, 2020, the company, which is known for its denim selection and its youth-focused offering, reported $251.0 million in net sales, up from $224.1 million in the same period in the prior-year period. Comparable store sales for the quarter increased 12.4%.
This progress was helped by a 12.1% rise in the retailer’s October sales, which totaled $78.1 million, up from $69.6 million in the same month in the previous year.
Buckle temporarily closed its stores in response to the Covid-19 pandemic in March but had reopened all of its retail locations by the end of August. Having suffered a 42.7% decline in sales in the first quarter due to these disruptions, the company already seemed to be turning the page in Q2, when it reported a 6.0% rise in net sales, driven by a 99.0% increase in online revenues.
Year to date, Buckle announced net sales of $582.4 million, representing a 7.4% decrease compared to the $629.3 million reported by the company in the same nine-month period in the previous year.
The retailer currently operates 446 stores in 42 U.S. states, compared to 449 stores at the same time last year.
Buckle plans to report its third-quarter earnings on Friday, November 20, 2020.
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