The Buckle, Inc. Reports January 2023 Net Sales

Rhea-AI Summary

The Buckle, Inc. (NYSE: BKE) reported a 6.1% increase in comparable store net sales for the 4-week fiscal month ending January 28, 2023, reaching $69.4 million, compared to $64.9 million the previous year. For the 13-week fiscal quarter, sales grew by 4.6%, totaling $401.8 million, while total net sales for the fiscal year rose by 3.9% to $1.345 billion. The company operates 440 stores across 42 states, with one new store and one closure in January. The Buckle is recognized for its stylish apparel and is a destination for denim.

Positive

• 4-week net sales increased 6.9% to $69.4 million compared to $64.9 million last year.
• 13-week net sales rose 5.5% to $401.8 million from $380.9 million.
• 52-week net sales grew 3.9% to $1.345 billion from $1.295 billion.

Negative

• Only a 6.1% increase in comparable store net sales for January compared to strong year-on-year results.
• Store closures, indicating potential challenges in maintaining retail presence.

KEARNEY, Neb.--(BUSINESS WIRE)-- The Buckle, Inc. (NYSE: BKE) announced today that comparable store net sales, for stores open at least one year, for the 4-week fiscal month ended January 28, 2023 increased 6.1 percent from comparable store net sales for the 4-week period ended January 29, 2022. Net sales for the 4-week fiscal month ended January 28, 2023 increased 6.9 percent to $69.4 million from net sales of $64.9 million for the prior year 4-week fiscal month ended January 29, 2022.

Comparable store net sales for the 13-week fiscal quarter ended January 28, 2023 increased 4.6 percent from comparable store net sales for the 13-week period ended January 29, 2022. Net sales for the 13-week fiscal fourth quarter ended January 28, 2023 increased 5.5 percent to $401.8 million compared to net sales of $380.9 million for the prior year 13-week fiscal fourth quarter ended January 29, 2022.

Comparable store net sales for the 52-week fiscal year ended January 28, 2023 increased 3.3 percent from comparable store net sales for the 52-week period ended January 29, 2022. Net sales for the 52-week fiscal year ended January 28, 2023 increased 3.9 percent to $1.345 billion compared to net sales of $1.295 billion for the prior year 52-week fiscal year ended January 29, 2022.

About Buckle

Offering a unique mix of high-quality, on-trend apparel, accessories, and footwear, Buckle caters to fashion-conscious young men and women. Known as a denim destination, each store carries a wide selection of fits, styles, and finishes from leading denim brands, including the Company’s exclusive brand, BKE. Headquartered in Kearney, Nebraska, Buckle currently operates 440 retail stores in 42 states which includes the opening of one new store and the closing of one store in fiscal January, as well as the closing of one store earlier this week (after the fiscal year ended). The Company operated 439 stores in 42 states as of February 2, 2022. To listen to the Company’s recorded monthly sales commentary, please call (308) 238-2500.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: All forward-looking statements made by the Company involve material risks and uncertainties and are subject to change based on factors which may be beyond the Company's control. Accordingly, the Company’s future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, but are not limited to, those described in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

News releases and other information about The Buckle, Inc., can be found on the Internet at www.buckle.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20230202005183/en/

Thomas B. Heacock, Chief Financial Officer

The Buckle, Inc.

(308) 236-8491

Source: The Buckle, Inc.

FAQ

What were Buckle's sales figures for January 2023?

Buckle reported net sales of $69.4 million for January 2023, a 6.9% increase from January 2022.

How did Buckle's sales perform in the fourth quarter of 2022?

In the fourth quarter of 2022, Buckle achieved net sales of $401.8 million, up 5.5% from the same period last year.

What was Buckle's total sales for the fiscal year ending January 2023?

For the fiscal year ending January 28, 2023, Buckle reported total net sales of $1.345 billion, reflecting a 3.9% increase.

How many stores does Buckle operate?

As of February 2, 2023, Buckle operates 440 retail stores across 42 states.