The Buckle, Inc. Press Release Narrative for 3/03/2016
Our March 3, 2016, press release reported that comparable store sales, for stores open at least one full year, for the four-week period ended February 27, 2016, were down 8.9 percent in comparison to the prior year four-week period ended February 28, 2015. Total net sales for the four-week fiscal month were down 7.7 percent to $81.8 million compared to net sales of $88.6 million in the prior year four-week fiscal month, which ended on February 28, 2015.
On the men's side of the business, total sales for the four-week fiscal period ending February 27, 2016, were down approximately 4.5 percent in comparison to the prior year four-week fiscal period ending February 28, 2015. The men's business represented approximately 45.5 percent of total sales for the month versus approximately 44.0 percent in the prior year fiscal February. For the fiscal month, 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 four-week fiscal period ending February 27, 2016, were down approximately 10.0 percent in comparison to the prior year four-week fiscal period ending February 28, 2015. The women's business represented approximately 54.5 percent of total sales for the month versus approximately 56.0 percent in the prior year fiscal February. For the fiscal month, overall price points on the women's side of the business were down approximately 2.0 percent.
Within the men's and women's categories combined, accessory sales for the fiscal month were down approximately 3.5 percent in comparison to the prior year fiscal February, while footwear sales were also down approximately 3.5 percent. These two categories accounted for approximately 8.5 percent and 6.0 percent, respectively, of the current fiscal February's net sales. This compares with approximately 8.0 percent and 6.0 percent for each of these categories for the same period in the prior year. Average accessory price points were down approximately 1.5 percent and average footwear price points were down approximately 7.0 percent for the fiscal month.
UPT's were flat and the average transaction value was down approximately 1.0 percent for the four-week fiscal month ended February 27, 2016, compared to the prior year four-week fiscal month ended February 28, 2015.
Buckle currently operates 468 retail stores in 44 states compared to 460 stores in 44 states as of March 3, 2015.
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.
The Buckle Inc. issued this content on 03 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 03 March 2016 12:18:03 UTC
Original Document: http://corporate.buckle.com/sites/default/files/press_release/03_03_16_narrative.pdf
The Buckle, Inc. is a retailer of casual apparel, footwear and accessories. The Company operates approximately 441 retail stores in 42 states throughout the United States. It markets a wide selection of casual apparel including denim, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear. The Company offers denim from brands, such as Miss Me, Rock Revival, KanCan, Hidden, Flying Monkey, Levi's, Preme, Smoke Rise, Ariat, Good American, and Wrangler. Its other brands include Hurley, Billabong, Affliction, American Fighter, Sullen, Howitzer, Oakley, Fox, RVCA, 7 Diamonds, Nixon, Free People, Z Supply, Salt Life, White Crow, Brew City, Reef, Stance, Versace Cologne, American Highway, Eight X, Pendelton, Hooey, Goorin Bros., Old Row, Timberland, Teva, Kimes Ranch, SOREL, Hey Dude, Steve Madden, Dolce Vita, SAXX, Ray-Ban, Wanakome, Guess, Fossil, Brixton, Dr. Martens, Very G, Birkenstock, Bed Stu, Palladium, Mia, K-Swiss, Myra, STS and G-Shock.
THE BUCKLE, INC. 
