March 19, 2014, 12:33 PM

Web sales at The Buckle increase 5.3% in 2013

Including stores, total sales for the year increased just 0.4%, and decreased by 6% in Q4.

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Web sales at apparel retailer The Buckle Inc. grew 5.3% in the 2013 fiscal year, but its growth online was slowed by a sluggish fourth quarter. In the final quarter of fiscal 2013, web sales grew by only 0.4%, and total sales—including stores—decreased by 6%.

For the fiscal year ended Feb. 1, 2014 The Buckle, No. 225 in the Internet Retailer Top 500 Guide, reports:

  • Web sales were $89.0 million in 2013, up 5.3% from $84.5 million in 2012.
  • Net sales were $1.128 billion, up 0.4% from $1.124 billion in 2012.
  • Net income was $162.6 million, down 1.0% from $164.3 million in 2012.
  • Comparable-store sales, which do not include online sales, were flat in 2013 compared with 2012.

The web accounted for 7.9% of the retailer’s sales in the 2013 fiscal year, up from 7.5% in the prior year.

In response to an analyst question on a conference call,  The Buckle CEO Dennis Nelson dismissed concerns about the retailer’s online growth trailing that of competitors. “We have not been promotional with our online sales and have not had any free shipping specials,” Nelson told investors in an earnings call this week. In the last year, he added, the retailer added the ability for shoppers to purchase items online to pick up in stores, and to place online orders in stores for free shipment to their homes.

For the fourth quarter ended Feb. 1, the retailer reports:

  • Web sales were $29.3 million in 2013, up from $29.1 million in the same quarter in fiscal 2012. The company reported that as an increase of 0.4% and did not provide any more detail on the online sales figures.
  • Net sales were $339.0 million, down 6.0% from $360.6 million in 2012.
  • Net income was $59.3 million, down 3.4% from $61.4 million in 2012.
  • Comparable-store sales decreased 2.3% in Q4 2013.

The web accounted for 8.6% of total sales in the quarter, compared with 8.1% in Q4 of the prior fiscal year.

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