Buckle Reports 1.4% Profit Increase

Youth retailer The Buckle Inc. generated a small increase in fourth-quarter profits despite only a small boost in its comparable-store sales. In the 13 weeks ended Jan. 31, the Kearney, Neb.-based specialty retailer recorded net income of $60.1 million, or $1.25 a diluted share, 1.4 percent better than the $59.3 million, or $1.23, registered in the 2013 quarter. On average, analysts expected EPS of $1.24. As the company reported last month, sales were up 4.3 percent, to $353.5 million from $339 million a year ago. Gross margin contracted 20 basis points from year-ago levels to 47.4 percent of sales. Quarterly comps rose 1.1 percent, allowing the company to report a flat comp performance for the full year, while e-commerce sales, not included in comps through 2014, rose 12.6 percent to $33 million in the 13 weeks. In the quarter, units per transaction were up 3.5 percent, average transaction value up 5 percent and average unit retail up 1.5 percent. When the company reported year-to-date results at the end of the first three quarters of the fiscal year, comps had declined 0.5 percent. Karen Rhoads, chief financial officer, told analysts on a morning conference call that the company’s men’s business in the quarter was up about

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