The Buckle, Inc. Reports September 2023 Net Sales

Rhea-AI Summary

The Buckle, Inc. reports a decrease in comparable store net sales for the 5-week and 35-week periods ended September 30, 2023 compared to the same periods in 2022.

Positive

• - Comparable store net sales for the 5-week period ended September 30, 2023 decreased by 11.1% compared to the same period in 2022.
• - Net sales for the 5-week fiscal month ended September 30, 2023 decreased by 10.7% to $103.1 million compared to the prior year.
• - Comparable store net sales year-to-date for the 35-week period ended September 30, 2023 decreased by 6.8% compared to the same period in 2022.
• - Net sales for the 35-week fiscal period ended September 30, 2023 decreased by 6.4% to $790.9 million compared to the prior year.

Negative

• - The decrease in net sales may negatively impact the stock price of The Buckle, Inc.

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 September 30, 2023 decreased 11.1 percent from comparable store net sales for the 5-week period ended October 1, 2022. Net sales for the 5-week fiscal month ended September 30, 2023 decreased 10.7 percent to $103.1 million from net sales of $115.5 million for the prior year 5-week fiscal month ended October 1, 2022.

Comparable store net sales year-to-date for the 35-week period ended September 30, 2023 decreased 6.8 percent from comparable store net sales for the 35-week period ended October 1, 2022. Net sales for the 35-week fiscal period ended September 30, 2023 decreased 6.4 percent to $790.9 million compared to net sales of $844.6 million for the prior year 35-week fiscal period ended October 1, 2022.

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, which includes the opening of one new store last week located in Dekalb, Illinois. The Company operated 441 stores in 42 states as of October 5, 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/20231005096700/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 were the comparable store net sales for the 5-week period ended September 30, 2023?

The comparable store net sales for the 5-week period ended September 30, 2023 decreased by 11.1% compared to the same period in 2022.

What were the net sales for the 5-week fiscal month ended September 30, 2023?

The net sales for the 5-week fiscal month ended September 30, 2023 decreased by 10.7% to $103.1 million compared to the prior year.

What were the comparable store net sales year-to-date for the 35-week period ended September 30, 2023?

The comparable store net sales year-to-date for the 35-week period ended September 30, 2023 decreased by 6.8% compared to the same period in 2022.

What were the net sales for the 35-week fiscal period ended September 30, 2023?

The net sales for the 35-week fiscal period ended September 30, 2023 decreased by 6.4% to $790.9 million compared to the prior year.