The Buckle, Inc. Reports June 2022 Net Sales

Rhea-AI Summary

The Buckle, Inc. (NYSE: BKE) reported a 1.7% decline in comparable store net sales for the five-week period ending July 2, 2022, compared to the same period last year. Total net sales fell 1.5% to $110 million. However, for the year-to-date 22-week period, comparable store net sales increased by 2.8%, with total sales rising 2.6% to $513.4 million. Buckle operates 441 stores across 42 states and recently opened a new location in Colorado Springs, Colorado.

Positive

• Comparable store net sales increased 2.8% year-to-date for the 22-week period.
• Total net sales rose 2.6% year-to-date to $513.4 million.

Negative

• Comparable store net sales decreased 1.7% for the 5-week period.
• Total net sales declined 1.5% to $110 million for the 5-week period.

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 5-week period ended July 2, 2022 decreased 1.7 percent from comparable store net sales for the 5-week period ended July 3, 2021. Net sales for the 5-week fiscal month ended July 2, 2022 decreased 1.5 percent to $110.0 million from net sales of $111.7 million for the prior year 5-week fiscal month ended July 3, 2021.

Comparable store net sales year-to-date for the 22-week period ended July 2, 2022 increased 2.8 percent from comparable store net sales for the 22-week period ended July 3, 2021. Net sales for the 22-week fiscal period ended July 2, 2022 increased 2.6 percent to $513.4 million compared to net sales of $500.6 million for the prior year 22-week fiscal period ended July 3, 2021.

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 441 retail stores in 42 states, which includes the opening of one new store during fiscal June in Colorado Springs, Colorado. The Company operated 442 stores in 42 states as of July 7, 2021.

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/20220707005137/en/

Thomas B. Heacock, Chief Financial Officer

The Buckle, Inc.

(308) 236-8491

Source: The Buckle, Inc.

FAQ

What were Buckle's net sales for July 2022?

Buckle's net sales for the 5-week period ended July 2, 2022, were $110 million.

How much did Buckle's comparable store net sales decrease in July 2022?

Buckle's comparable store net sales decreased by 1.7% for the 5-week period ended July 2, 2022.

What is the year-to-date sales performance of Buckle for 2022?

Buckle's year-to-date comparable store net sales increased by 2.8%, with total sales at $513.4 million.

How many retail stores does Buckle operate?

Buckle operates 441 retail stores across 42 states.

Did Buckle open any new stores recently?

Yes, Buckle opened a new store in Colorado Springs, Colorado, during fiscal June.