For Immediate Release: June 5, 2014
Contact: Karen B. Rhoads, Chief Financial Officer
The Buckle, Inc.
The Buckle, Inc. Press Release Narrative for 6/05/2014
Our June 5, 2014, press release reported that comparable store sales, for stores open at least one full year, for the four-week period ended May 31, 2014, were down 3.1 percent in comparison to the prior year four-week period ended June 1, 2013. Total net sales for the four-week fiscal month were down 1.2 percent to $72.0 million compared to net sales of
$72.8 million in the prior year four-week fiscal month, which ended on June 1, 2013.
On the men's side of the business, total sales for the four-week fiscal period ending May 31,
2014, were up approximately 4.0 percent in comparison to the prior year four-week fiscal period ending June 1, 2013. The men's business represented approximately 43.0 percent of total sales for the month versus approximately 41.0 percent in the prior year fiscal May. Strong categories on the men's side included denim and casual bottoms, knit shirts, shorts, and accessories. For the fiscal month, overall price points on the men's side of the business were up approximately 2.0 percent.
On the women's side of the business, total sales for the four-week fiscal period ending May
31, 2014, were down approximately 4.5 percent in comparison to the prior year four-week fiscal period ending June 1, 2013. The women's business represented approximately 57.0 percent of total sales for the month versus approximately 59.0 percent in the prior year fiscal May. Strong categories on the women's side included knit tops, sweaters, active apparel, dresses, and footwear. For the fiscal month, overall price points on the women's side of the business were up slightly.
Within the men's and women's categories combined, accessory sales for the fiscal month were down approximately 3.0 percent in comparison to the prior year fiscal May, while footwear sales were essentially flat. These two categories accounted for approximately 9.0 percent and 7.0 percent, respectively, of the current fiscal May's Net Sales. This compares with approximately 9.0 percent and 7.0 percent for each of these categories for the same period in the prior year. Average accessory price points were up approximately 7.0 percent and average footwear price points were up approximately 2.5 percent for the fiscal month.
UPT's were up approximately 1.5 percent and the average transaction value was up approximately 2.5 percent for the four-week fiscal month ended May 31, 2014, compared to the prior year four-week fiscal month ended June 1, 2013.
With the opening of three new stores during the fiscal month (including our first store in the state of Alaska), Buckle currently operates 453 retail stores in 44 states compared to 444 stores in 43 states as of June 5, 2013.
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.