The Buckle, Inc. Reports October 2023 Net Sales

Rhea-AI Summary

The Buckle, Inc. (NYSE: BKE) reported a decrease in comparable store net sales for the 4-week period ended October 28, 2023, with a decrease of 11.9% compared to the same period in 2022. Net sales for the 4-week fiscal month also decreased by 11.1% to $87.8 million. The 13-week third quarter saw a decrease in comparable store net sales of 9.2% and net sales decreased by 8.7% to $303.5 million. Year-to-date, comparable store net sales decreased by 7.3% and net sales decreased by 6.9% to $878.7 million. Third quarter earnings will be announced on November 17, 2023.

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 period ended October 28, 2023 decreased 11.9 percent from comparable store net sales for the 4-week period ended October 29, 2022. Net sales for the 4-week fiscal month ended October 28, 2023 decreased 11.1 percent to $87.8 million from net sales of $98.8 million for the prior year 4-week fiscal month ended October 29, 2022.

Comparable store net sales for the 13-week third quarter ended October 28, 2023 decreased 9.2 percent from comparable store net sales for the 13-week period ended October 29, 2022. Net sales for the 13-week fiscal third quarter ended October 28, 2023 decreased 8.7 percent to $303.5 million compared to net sales of $332.3 million for the prior year 13-week fiscal third quarter ended October 29, 2022.

Comparable store net sales year-to-date for the 39-week period ended October 28, 2023 decreased 7.3 percent from comparable store net sales for the 39-week period ended October 29, 2022. Net sales for the 39-week fiscal period ended October 28, 2023 decreased 6.9 percent to $878.7 million compared to net sales of $943.4 million for the prior year 39-week fiscal period ended October 29, 2022.

The Company will announce third quarter earnings on Friday, November 17, 2023. Management will hold a live audio webcast at 10:00 a.m. EST on November 17, 2023 to discuss results for the quarter. To register for the live event, visit https://buckle.zoom.us/webinar/register/WN_A5_s0zUvQ1yhslHLlO71Ww. A replay of the event can be accessed through Buckle’s investor relations website within twenty-four hours after the conclusion of the live event (https://corporate.buckle.com/investors/earnings-webcasts).

About Buckle

Buckle is a specialty retailer focused on delivering exceptional service and style through unforgettable experiences. Offering a curated mix of high-quality, on-trend apparel, accessories, and footwear, Buckle is for those living the styled life. 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 443 retail stores in 42 states. The Company operated 441 stores in 42 states as of November 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 on The Buckle, Inc. can be accessed at www.buckle.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231102867803/en/

Thomas B. Heacock, Chief Financial Officer

The Buckle, Inc.

(308) 236-8491

Source: The Buckle, Inc.

FAQ

What is the stock symbol for The Buckle, Inc.?

The stock symbol for The Buckle, Inc. is BKE.

What was the percentage decrease in comparable store net sales for the 4-week period ended October 28, 2023?

The comparable store net sales for the 4-week period ended October 28, 2023 decreased by 11.9% compared to the same period in 2022.

When will the third quarter earnings be announced?

The third quarter earnings will be announced on November 17, 2023.