The Buckle, Inc. Reports March 2021 Net Sales

Rhea-AI Summary

Buckle, Inc. (NYSE: BKE) reported a substantial rise in net sales for the 5-week fiscal month ending April 3, 2021, with an increase of 240.2% to $139.4 million compared to $41.0 million in the same period last year. For the 9-week period, net sales jumped 97.7% to $205.5 million from $104.0 million a year prior. The previous year’s sales were heavily impacted by pandemic-related store closures. The company plans to resume regular monthly reporting starting in August.

Positive

• Net sales for the 5-week fiscal month increased 240.2% to $139.4 million.
• Net sales for the 9-week fiscal period rose 97.7% to $205.5 million.
• Sales exceeded pre-pandemic levels, marking a 69.5% increase from fiscal 2019.

Negative

• Sales comparisons are skewed due to the COVID-19 pandemic store closures.

The Buckle, Inc. (NYSE: BKE) announced today that net sales for the 5-week fiscal month ended April 3, 2021 increased 240.2 percent to $139.4 million from net sales of $41.0 million for the prior year 5-week fiscal month ended April 4, 2020. Compared to the same 5-week period in fiscal 2019, net sales increased 69.5 percent from net sales of $82.3 million for the 5-week fiscal month ended April 6, 2019.

Net sales for the 9-week fiscal period ended April 3, 2021 increased 97.7 percent to $205.5 million from net sales of $104.0 million for the prior year 9-week fiscal period ended April 4, 2020. Compared to the same 9-week period in fiscal 2019, net sales increased 45.0 percent from net sales of $141.7 million for the 9-week fiscal period ended April 6, 2019.

Net sales for fiscal 2020 were significantly impacted by the Company’s closure of all brick and mortar stores due to the COVID-19 pandemic beginning March 18, 2020. As a result of the impact of the store closures on prior year reported net sales, the Company will report total net sales each month compared to the past two years and does not plan to separately report comparable store sales for the months most affected by the store closures. The Company plans to resume its regular monthly reporting with its August results.

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 442 retail stores in 42 states compared to 446 stores in 42 states as of April 8, 2020. 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/20210408005104/en/

FAQ

What were Buckle's net sales for the fiscal month ending April 3, 2021?

Buckle's net sales for the 5-week fiscal month ending April 3, 2021, were $139.4 million, representing a 240.2% increase from the previous year.

How did Buckle's sales compare to fiscal 2019?

Compared to the same 5-week period in fiscal 2019, Buckle's net sales increased 69.5% from $82.3 million.

What were the net sales for Buckle during the 9-week fiscal period ending April 3, 2021?

Buckle's net sales for the 9-week fiscal period ending April 3, 2021, were $205.5 million, a 97.7% increase from the previous year.

Why is Buckle comparing sales to the previous two years?

Buckle is comparing sales to the past two years due to the significant impact of COVID-19 store closures on fiscal 2020 sales.

When does Buckle plan to resume regular monthly sales reporting?

Buckle plans to resume regular monthly reporting starting in August.