Press Release The Buckle, Inc. Unveils Latest Updates

In our press release dated April 11, 2024, we announced that comparable store sales, for stores open at least one full year, for the five-week period ended April 6, 2024, decreased by 9.4 percent compared to the prior year’s five-week period ended April 8, 2023. Total net sales for the five-week fiscal month decreased by 8.0 percent to $104.3 million, in contrast to net sales of $113.4 million in the prior year’s five-week fiscal month ended April 1, 2023.

On the men’s side of our business, total sales for the five-week fiscal period ended April 6, 2024, decreased by 8.5 percent compared to the prior year’s five-week period ended April 8, 2023. The men’s business represented approximately 53.0 percent of total sales for the month, slightly up from approximately 52.5 percent for the same period in the prior year. Overall price points on the men’s side of the business increased by approximately 2.5 percent for the fiscal month.

Regarding the women’s side of our business, total sales for the five-week fiscal period ended April 6, 2024, decreased by 9.5 percent compared to the prior year’s five-week period ended April 8, 2023. The women’s business represented approximately 47.0 percent of total sales for the month, slightly down from approximately 47.5 percent for the same period in the prior year. Overall price points on the women’s side of the business increased by approximately 1.0 percent for the fiscal month.

Combined, accessory sales for the fiscal month were down by approximately 9.0 percent compared to the prior year’s five-week period ended April 8, 2023, while footwear sales were down by about 36.0 percent. These two categories accounted for approximately 10.5 percent and 6.0 percent, respectively, of the current fiscal March net sales. This compares with approximately 10.5 percent and 8.5 percent, respectively, for each in the prior year. Average accessory price points for the month were up by approximately 1.5 percent, and average footwear price points were up by about 7.0 percent for the fiscal month.

During the month, UPT’s decreased by about 7.0 percent while the average transaction value increased by approximately 1.0 percent compared to the prior year’s five-week period ended April 8, 2023. Buckle currently operates 440 retail stores in 42 states, unchanged from 439 stores in 42 states as of April 11, 2023.

As per our company policy, we do not provide guidance on current sales or project results for the next quarter. Additionally, any forward-looking statements made during this commentary involve material risks and uncertainties and are subject to change based on factors that 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.

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