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THE BUCKLE, INC.

(BKE)
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Buckle : Press Release Narrative for 12/2/2021

12/02/2021 | 07:01am EST

For Immediate Release: December 2, 2021

Contact: Thomas B. Heacock, Chief Financial Officer

The Buckle, Inc.

(308) 236-8491

The Buckle, Inc. Press Release Narrative for 12/2/2021

Our December 2, 2021 press release reported that comparable store sales, for stores open at least one full year, for the four-week period ended November 27, 2021, increased 36.0 percent in comparison to the prior year four-week period ended November 28, 2020. Total net sales for the four-week fiscal month increased 35.9 percent to $117.3 million compared to net sales of $86.3 million in the prior year four-week fiscal month ended November 28, 2020.

On the men's side of the business, total sales for the four-week fiscal period ended November 27, 2021 were up 36.5 percent in comparison to the prior year four-week period ended November 28, 2020. The men's business represented approximately 55.0 percent of total sales for the month versus approximately 54.5 percent the prior year fiscal November. For the fiscal month, overall price points on the men's side of the business were down approximately 2.0 percent.

On the women's side of the business, total sales for the four-week fiscal period ended November 27, 2021 were up approximately 34.0 percent in comparison to the prior year four-week period ended November 28, 2020. The women's business represented approximately 45.0 percent of total sales for the month versus approximately 45.5 percent the prior year fiscal November. For the fiscal month, overall price points on the women's side of the business were up approximately 3.5 percent.

Within the men's and women's categories combined, accessory sales for the fiscal month were up approximately 38.0 percent in comparison to the prior year fiscal November, and footwear sales were up about 26.5 percent. These two categories accounted for approximately 8.5 percent and 10.5 percent, respectively, of the current fiscal November net sales. This compares with approximately 8.5 percent and 11.5 percent, respectively, for each in the prior year fiscal November. Average accessory price points were up approximately 6.5 percent and average footwear price points were up about 3.5 percent for the fiscal month.

For the month, UPT's were down approximately 2.0 percent and the average transaction value decreased approximately 1.0 percent compared to the prior year fiscal November.

Buckle currently operates 441 retail stores in 42 states compared to 446 stores in 42 states as of December 2, 2020.

It is our Company policy not to provide any guidance on current sales or to 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 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.

Disclaimer

The Buckle Inc. published this content on 02 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2021 12:00:03 UTC.


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Sales 2022 1 259 M - -
Net income 2022 238 M - -
Net Debt 2022 - - -
P/E ratio 2022 6,90x
Yield 2022 -
Capitalization 1 632 M 1 632 M -
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Nbr of Employees 4 950
Free-Float -
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Mean consensus OUTPERFORM
Number of Analysts 3
Last Close Price 33,35 $
Average target price 60,00 $
Spread / Average Target 79,9%
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Managers and Directors
Dennis H. Nelson President, Chief Operating Officer & Director
Thomas B. Heacock Chief Financial Officer, Treasurer, Director & SVP
Daniel J. Hirschfeld Chairman
Bill L. Fairfield Independent Director
Bruce L. Hoberman Independent Director
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