The Buckle, Inc. Reports September 2016 Net Sales
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 October 1, 2016 decreased 15.5 percent in comparison to comparable store net sales for the 5-week period ended October 3, 2015. Net sales for the 5-week fiscal month ended October 1, 2016 decreased 14.8 percent to $82.9 million compared to net sales of $97.4 million for the prior year 5-week fiscal month ended October 3, 2015.
Comparable store net sales year-to-date for the 35-week period ended October 1, 2016 decreased 12.1 percent from comparable store net sales for the 35-week period ended October 3, 2015. Net sales for the 35-week fiscal period ended October 1, 2016 decreased 11.4 percent to $625.8 million from net sales of $706.2 million for the prior year 35-week fiscal period ended October 3, 2015.
Please note that net sales for the 5-week and 35-week periods ended October 1, 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.
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 one new store in Tampa, Florida and the closing of one store in Knoxville, Tennessee during fiscal September. The Company operated 465 stores in 44 states as of October 6, 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