A discussion draft of the Online Sales Tax Simplification Act of 2016 is expected to be introduced in Congress soon.
The Buckle reported third quarter online sales of $12.5 million, a 41.9% increase compared with the prior year quarter.
Sales were up across the board for The Buckle Inc in the third quarter but it was the web that made the biggest contribution.
For the quarter ended Oct. 31:
- Web sales were $12.5 million, a 41.9% increase from $8.8 million in the prior year quarter.
- Total sales were $231.2 million, up by 9.8% from $210.6 million.
- Comparable-store sales increased by 4.3%.
- The Internet represented 5.4% of sales versus 4.2% a year earlier.
- Net income was $33.3 million, a 14.4% increase compared with $29.1 million in the prior year.
- Web sales of $34.3 million, a 50.8% increase from $22.7 million year over year.
- Total sales were $623.8 million, up by 15.4% from $540.6 million.
- Comparable-store sales increased 9.7%.
- Online sales accounted for 5.5% of total sales compared with 4.2% in the same period last year.
- Net income was $85.2 million, a 21.5% lift from $70.1 million.