The Buckle, Inc. Reports March 2023 Net Sales

Rhea-AI Summary

The Buckle, Inc. (NYSE: BKE) reported a decline in comparable store net sales for the 5-week period ending April 1, 2023, down 10.1% year-over-year. Total net sales for this period fell to $113.4 million from $124.9 million in the previous year. Similarly, for the year-to-date 9-week period, comparable store net sales decreased by 8.8%, with total sales at $195.9 million compared to $212.7 million the previous year. The company operates 439 retail stores across 42 states, having recently closed one store and opened another in Fenton, Missouri. The Buckle is known for its on-trend apparel, particularly denim, appealing to fashion-conscious young consumers.

Positive

• Buckle has a stable retail presence with 439 stores across 42 states.
• The company has opened a new store in Fenton, Missouri, indicating continued expansion.

Negative

• Comparable store net sales for the 5-week period decreased by 10.1%.
• Net sales for the 5-week fiscal month fell by 9.2% to $113.4 million.
• Year-to-date comparable store net sales decreased by 8.8%.
• Total net sales for the 9-week period declined by 7.9% to $195.9 million.

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 fiscal period ended April 1, 2023 decreased 10.1 percent from comparable store net sales for the 5-week period ended April 2, 2022. Net sales for the 5-week fiscal month ended April 1, 2023 decreased 9.2 percent to $113.4 million from net sales of $124.9 million for the prior year 5-week fiscal month ended April 2, 2022.

Comparable store net sales year-to-date for the 9-week period ended April 1, 2023 decreased 8.8 percent from comparable store net sales for the 9-week period ended April 2, 2022. Net sales for the 9-week fiscal period ended April 1, 2023 decreased 7.9 percent to $195.9 million compared to net sales of $212.7 million for the prior year 9-week fiscal period ended April 2, 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 439 retail stores in 42 states, which includes the closing of one store during the fiscal month and the opening of one new store in Fenton, Missouri earlier this week. The Company operated 439 stores in 42 states as of April 6, 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/20230406005116/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 April 2023?

Buckle reported net sales of $113.4 million for the 5-week period ended April 1, 2023, a decrease of 9.2% year-over-year.

What is the percentage decrease in comparable store net sales for Buckle?

Comparable store net sales for Buckle decreased by 10.1% for the 5-week period ended April 1, 2023.

How many retail stores does Buckle currently operate?

Buckle operates 439 retail stores across 42 states.

What was the total net sales for Buckle for the 9-week period ending April 1, 2023?

Total net sales for the 9-week period ended April 1, 2023, were $195.9 million, a decrease of 7.9% from the previous year.