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OFFON

THE BUCKLE, INC.

(BKE)
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Buckle : Press Release Narrative for 9/2/2021

09/02/2021 | 07:02am EDT

For Immediate Release: September 2, 2021

Contact: Thomas B. Heacock, Chief Financial Officer

The Buckle, Inc.

(308) 236-8491

The Buckle, Inc. Press Release Narrative for 9/2/2021

Our September 2, 2021 press release reported that comparable store sales, for stores open at least one full year, for the four-week period ended August 28, 2021, increased 42.7 percent in comparison to the prior year four-week period ended August 29, 2020. Total net sales for the four-week fiscal month increased 43.0 percent to $111.6 million compared to net sales of $78.1 million in the prior year four-week fiscal month ended August 29, 2020.

On the men's side of the business, total sales for the four-week fiscal period ended August 28, 2021 were up 40.5 percent in comparison to the prior year four-week period ended August 29, 2020. The men's business represented approximately 53.0 percent of total sales for the month versus approximately 54.0 percent the prior year fiscal August. For the fiscal month, overall price points on the men's side of the business were up approximately 1.5 percent.

On the women's side of the business, total sales for the four-week fiscal period ended August 28, 2021 were up approximately 44.5 percent in comparison to the prior year four-week period ended August 29, 2020. The women's business represented approximately 47.0 percent of total sales for the month versus approximately 46.0 percent the prior year fiscal August. For the fiscal month, overall price points on the women's side of the business were up approximately 4.5 percent.

Within the men's and women's categories combined, accessory sales for the fiscal month were up approximately 37.0 percent in comparison to the prior year fiscal August, and footwear sales were up about 19.0 percent. Each of these categories accounted for approximately 8.5 percent of the current fiscal August net sales. This compares with approximately 9.0 percent and 10.0 percent, respectively, for each in the prior year fiscal August. Average accessory price points were up approximately 7.0 percent and average footwear price points were up about 1.0 percent for the fiscal month.

For the month, UPT's were down approximately 4.5 percent and the average transaction value decreased approximately 2.0 percent compared to the prior year fiscal August.

Buckle currently operates 442 retail stores in 42 states compared to 446 stores in 42 states as of September 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 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 September 2021 11:01:02 UTC.


© Publicnow 2021
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Net income 2022 211 M - -
Net Debt 2022 - - -
P/E ratio 2022 10,1x
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Mean consensus HOLD
Number of Analysts 2
Last Close Price 43,18 
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Dennis H. Nelson President, Chief Executive 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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