For Immediate Release: July 8, 2021
Contact: Thomas B. Heacock, Chief Financial Officer
The Buckle, Inc.
The Buckle, Inc. Press Release Narrative for 7/8/2021
Due to the significant impact of the Company's closure of all brick and mortar stores as a result of the COVID-19 pandemic beginning March 18, 2020, all comparisons in this narrative will be against the same four-week period in fiscal 2019.
Our July 8, 2021 press release reported that net sales for the five-week period ended July 3, 2021, increased 49.3 percent to $111.7 million compared to net sales of $74.8 million in the five-week fiscal month ended July 6, 2019.
On the men's side of the business, total sales for the five-week fiscal period ended July 3, 2021 were up 52.5 percent in comparison to the five-week period ended July 6, 2019. The men's business represented approximately 57.0 percent of total sales for the month versus approximately 56.0 percent in June of fiscal 2019. Compared to fiscal 2019, overall price points on the men's side of the business were up approximately 0.5 percent.
On the women's side of the business, total sales for the five-week fiscal period ended July 3, 2021 were up approximately 44.5 percent in comparison to the five-week period ended July 6, 2019. The women's business represented approximately 43.0 percent of total sales for the month versus approximately 44.0 percent in June of fiscal 2019. Compared to fiscal 2019, overall price points on the women's side of the business were up approximately 10.0 percent.
Within the men's and women's categories combined, accessory sales for the fiscal month were up approximately 54.0 percent in comparison to June of fiscal 2019, and footwear sales were up about 76.5 percent. These two categories accounted for approximately 11.0 percent and 9.0 percent, respectively, of the current fiscal June net sales. This compares with approximately 10.5 percent and 7.5 percent, respectively, for each in June of fiscal 2019. Average accessory price points were up approximately 10.5 percent and average footwear price points were up about 2.0 percent for the same comparison period.
For the month, UPT's were down approximately 2.0% while the average transaction value increased approximately 3.5 percent compared to June of fiscal 2019.
Buckle currently operates 442 retail stores in 42 states compared to 446 stores in 42 states as of July 8, 2020 and 448 stores in 42 states as of July 8, 2019.
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.