The Buckle, Inc. Reports July 2016 Net Sales
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 July 30, 2016 decreased 10.9 percent in comparison to comparable store net sales for the 4-week period ended August 1, 2015. Net sales for the 4-week fiscal month ended July 30, 2016 decreased 9.8 percent to $66.5 million compared to net sales of $73.8 million for the prior year 4-week fiscal month ended August 1, 2015.
Comparable store net sales for the 13-week second quarter ended July 30, 2016 decreased 10.8 percent from comparable store net sales for the 13-week period ended August 1, 2015. Net sales for the 13-week fiscal quarter ended July 30, 2016 decreased 10.1 percent to $212.2 million from net sales of $236.1 million for the prior year 13-week fiscal quarter ended August 1, 2015.
Comparable store net sales year-to-date for the 26-week period ended July 30, 2016 decreased 10.9 percent from comparable store net sales for the 26-week period ended August 1, 2015. Net sales for the 26-week fiscal period ended July 30, 2016 decreased 10.2 percent to $455.7 million from net sales of $507.4 million for the prior year 26-week fiscal period ended August 1, 2015.
Please note that net sales for the 4-week, 13-week, and 26-week periods ended July 30, 2016 are reported net of the impact of both reward redemptions and accruals for estimated future rewards related to the Company's new Guest Loyalty program, which launched during the fiscal quarter ended April 30, 2016.
The Company will announce second quarter earnings the morning of Friday, August 19, 2016. Management will hold a conference call at 10:00 a.m. EDT on August 19, 2016 to discuss results for the quarter. To participate in the call, please call (800) 230-1059 for domestic calls or (612) 234-9959 for international calls and reference the conference code 399570. A replay of the call will be available for a two-week period beginning August 19, 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 399570.
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 470 retail stores in 44 states, which includes the opening of three new stores during fiscal July in Brownsville, Texas; Tempe, Arizona; and St. Clairsville, Ohio. The Company operated 464 stores in 44 states as of August 4, 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
The Buckle, Inc.
Karen B. Rhoads, 308-236-8491
Chief Financial Officer