FINANCE

The Buckle profit rises in Q4

BY CSA STAFF

Kearney, Neb. — The Buckle reported Thursday that net income for the quarter ended Jan. 29 rose to $49.5 million, compared with $42.1 million in the year-ago period.

Sales rose 10.4% to $303.1 million, from $274.4 million.

Same-store sales increased 6.3%.

For the full year, The Buckle reported that net income rose to $134.7 million from $127.3 million in 2009. Yearly sales increased 5.7% to $949.8 million, from $898.3 million. Same-store sales edged up 1.2%.

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FINANCE

Stein Mart profit surges in Q4, sales dip

BY CSA STAFF

Jacksonville, Fla. — Stein Mart reported Thursday that fourth quarter profit surged to $18.8 million from $2.7 million in the year-ago period. Results included an income tax benefit in fourth quarter 2010.

Revenue for the quarter ended Jan. 29 decreased 1.5% to $336.7 million, compared with $341.8 a year earlier. Same-store sales dipped 1.2%.

For the full year, Stein Mart reported net income of $48.8 million, up from $23.6 million in 2009. Sales for the year dropped 3.1% to $1.18 billion. Same-store sales decreased 1.8% for the fiscal year 2010.

Stein Mart president and CEO David H. Stovall Jr. attributed the net income strength to “streamlined cost structure and enhanced inventory management.”

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FINANCE

Men’s Wearhouse narrows loss in Q4

BY CSA STAFF

Houston — The Men’s Wearhouse reported Wednesday a loss of $14.1 million for the quarter ended Jan. 29, narrowed from a loss of $18.8 million in the year-ago period.

The retailer, which sells suits and rents tuxedos, offered a 2011 forecast of adjusted profit that would beat Wall Street projections.

Revenue increased 18.6% to $542.1 million. Same-store sales rose 4.3% on strong tuxedo-rental revenue.

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