The Buckle, Inc. (NYSE: BKE) announced today that comparable store net
sales, for stores open at least one year, for the four-week period ended
April 30, 2016 decreased 13.2 percent in comparison to comparable store
net sales for the four-week period ended May 2, 2015. Net sales for the
four-week fiscal month ended April 30, 2016 decreased 12.3 percent to
$65.2 million compared to net sales of $74.3 million for the prior year
four-week fiscal month ended May 2, 2015.
Comparable store net sales year-to-date for the thirteen-week period
ended April 30, 2016 decreased 11.1 percent from comparable store net
sales for the thirteen-week period ended May 2, 2015. Net sales for the
thirteen-week fiscal period ended April 30, 2016 decreased 10.2 percent
to $243.5 million from net sales of $271.3 million for the prior year
thirteen-week fiscal period ended May 2, 2015.
Please note that net sales for both the four and thirteen-week periods
ended April 30, 2016 are net of a $3.0 million adjustment recorded as a
reduction to revenue to accrue for estimated future rewards related to
the Company’s new Guest Loyalty program, which launched during the
fiscal quarter ended April 30, 2016. Absent the impact of this
adjustment for estimated future rewards, total net sales for the
four-week period ended April 30, 2016 were down 8.2 percent and
comparable store net sales were down 9.2 percent. For the year-to-date
period, total net sales were down 9.1 percent and comparable store net
sales were down 10.0 percent before the impact of this adjustment.
Despite the impact on reported sales, the Company is excited about the
many potential benefits Guest Loyalty will provide to both Buckle and
its guests.
The Company will announce first quarter earnings the morning of Friday,
May 20, 2016. Management will hold a conference call at 10:00 a.m. EDT
on May 20, 2016 to discuss results for the quarter. To participate in
the call, please call (800) 230-1092 for domestic calls or (612)
332-0107 for international calls and reference the conference code
393064. A replay of the call will be available for a two-week period
beginning May 20, 2016 at 12:00 p.m. EDT by calling (800) 475-6701 for
domestic calls or (320) 365-3844 for international calls and entering
the conference code 393064.
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 467 retail stores in 44 states, following the
closing of one store earlier this week in Phoenix, Arizona. The Company
operated 463 stores in 44 states as of May 5, 2015. 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: http://www.businesswire.com/news/home/20160505005200/en/
The Buckle, Inc. is a retailer of casual apparel, footwear, and accessories. The Company operates approximately 440 retail stores in 42 states. The Company markets a wide selection of casual apparel including denim, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear. It also provides customer services, such as free hemming, free gift-packaging, easy layaways, the Buckle private label credit card, and a guest loyalty program. The Company offers denims from brands such as Miss Me, Rock Revival, KanCan, Hidden, Flying Monkey, Levi's, Preme, Smoke Rise, Ariat, Good American, and Wrangler. Other key brands include Hurley, Billabong, Affliction, American Fighter, Sullen, Howitzer, Oakley, Fox, RVCA, 7 Diamonds, Nixon, Free People, Z Supply, Salt Life, White Crow, Brew City, Reef, Stance, Versace Cologne, American Highway, Eight X, Pendelton, Hooey, Goorin Bros., Old Row, Timberland, Teva, Kimes Ranch, SOREL, Hey Dude, Steve Madden, Dolce Vita, and SAXX.