For Immediate Release: May 6, 2021
Contact: Thomas B. Heacock, Chief Financial Officer
The Buckle, Inc.
The Buckle, Inc. Press Release Narrative for 5/6/2021
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 May 6, 2021 press release reported that net sales for the four-week period ended May 1, 2021, increased 57.0 percent to $93.6 million compared to net sales of $59.6 million in the four-week fiscal month ended May 4, 2019.
On the men's side of the business, total sales for the four-week fiscal period ended May 1, 2021 were up 56.5 percent in comparison to the four-week period ended May 4, 2019. The men's business represented approximately 52.0 percent of total sales for the month versus approximately 51.5 percent in April of fiscal 2019. Compared to fiscal 2019, 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 May 1, 2021 were up approximately 53.5 percent in comparison to the four-week period ended May 4, 2019. The women's business represented approximately 48.0 percent of total sales for the month versus approximately 48.5 percent in April of fiscal 2019. Compared to fiscal 2019, overall price points on the women's side of the business were up approximately 7.5 percent.
Within the men's and women's categories combined, accessory sales for the fiscal month were up approximately 55.0 percent in comparison to April of fiscal 2019, and footwear sales were up about 104.0 percent. These two categories accounted for approximately 8.5 percent and 10.5 percent, respectively, of the current fiscal April net sales. This compares with approximately 9.0 percent and 8.0 percent, respectively, for each in April of fiscal 2019. Average accessory price points were up approximately 10.5 percent and average footwear price points were up about 0.5 percent for the same comparison period.
For the month, UPT's were down approximately 1.0% while the average transaction value increased approximately 3.0 percent compared to April of fiscal 2019.
Buckle currently operates 442 retail stores in 42 states compared to 446 stores in 42 states as of May 6, 2020 and 449 stores in 42 states as of May 6, 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.