The Buckle net income edges up in Q3
Kearney, Neb. — The Buckle reported Thursday that net income for the third quarter was $34.4 million, compared with a profit of $33.3 million a year earlier.
Net sales increased 5.2% to $243.3 million, from net sales of $231.2 million for the prior year.
Same-store sales edged up 0.5%.
Buckle currently operates 422 retail stores in 41 states.
New Black Friday insights
The National Retail Federation is out with some new data about what retailers can expect Thanksgiving weekend, and it is looking like the nation’s highways and stores will be jammed with as many as 138 million people. That’s according to NRF research about shopper intentions, which reveals 27.1% of those responding to the question, “Is it likely you will go shopping the Friday, Saturday or Sunday after Thanksgiving?” said yes and another 35.5% answered maybe. Slightly more than 37% said no. That’s a lot of folks, but it is not as many as in 2006 when 28.3% of respondents said yes and 36% said maybe.
More interesting than the obvious fact that a lot of people plan to shop after Thanksgiving is some of the demographic detail. Braving the nation’s highway and congested retail outlets is a young persons’ game with nearly half of those age 18 to 24 planning to shop. The percentages decline steadily from there until you get to the 65-and-older crowd where only 9.2% said they planned to shop.
Also interesting is the fact that men are as likely as women to shop Thanksgiving weekend with less than a percentage point separating the genders. Meanwhile, those with household incomes greater than $50,000 are more likely (29.7% yes) than those below that income threshold (25.3% yes) to shop next weekend.
Supervalu moves EVP to consulting role
MINNEAPOLIS Supervalu announced that David Boehnen, EVP, is transitioning to a new role at the company effective Dec. 15. Boehnen will no longer be a Supervalu officer but will continue to consult for the company as a senior counselor to Craig Herkert, Supervalu’s chief executive officer and president, for one year.
“Dave has made many contributions to Supervalu in leading the legal function as well as real estate and corporate development that have shaped who Supervalu is today,” said Herkert. “I have personally appreciated his advice and counsel during my first 18 months with Supervalu and I look forward to continuing to work with Dave in his new capacity and sincerely thank him for his years of service.”
With Boehnen’s new role, Todd Sheldon, group vice president, legal, will be promoted to SVP and general counsel, reporting to Andy Herring, EVP real estate, market development and legal.