The Buckle, Inc. Press Release Narrative for 12/04/2014
Our December 4, 2014, press release reported that comparable store sales, for stores open at least one full year, for the four-week period ended November 29, 2014, were down 1.0 percent in comparison to the prior year four-week period ended November 30, 2013. Total net sales for the four-week fiscal month were up 2.7 percent to $104.0 million compared to net sales of $101.2 million in the prior year four-week fiscal month, which ended on November 30, 2013.
On the men's side of the business, total sales for the four-week fiscal period ending November 29, 2014, were up approximately 8.5 percent in comparison to the prior year four-week fiscal period ending November 30, 2013. The men's business represented approximately 45.5 percent of total sales for the month versus approximately 43.0 percent in the prior year fiscal November. Strong categories on the men's side included denim and casual bottoms, woven and knit shirts, sweaters, outerwear, and accessories. For the fiscal month, overall price points on the men's side of the business were up just slightly.
On the women's side of the business, total sales for the four-week fiscal period ending November 29, 2014, were down approximately 2.0 percent in comparison to the prior year four-week fiscal period ending November 30, 2013. The women's business represented approximately 54.5 percent of total sales for the month versus approximately 57.0 percent in the prior year fiscal November. Strong categories on the women's side included woven and knit tops, sweaters, active apparel, outerwear, and footwear. For the fiscal month, overall price points on the women's side of the business were up approximately 3.0 percent.
Within the men's and women's categories combined, accessory sales for the fiscal month were up approximately 2.5 percent in comparison to the prior year fiscal November, while footwear sales were up approximately 3.0 percent. These two categories accounted for approximately 8.5 percent and 6.0 percent, respectively, of the current fiscal November's Net Sales. This compares with approximately 8.5 percent and 6.0 percent for each of these categories for the same period in the prior year. Average accessory price points were up approximately 2.0 percent and average footwear price points were up approximately 13.5 percent for the fiscal month.
UPT's were up approximately 6.0 percent and the average transaction value was up approximately 4.5 percent for the four-week fiscal month ended November 29, 2014, compared to the prior year four-week fiscal month ended November 30, 2013.
With the opening of two new stores during fiscal November, Buckle currently operates 463 retail stores in 44 states compared to 452 stores in 43 states as of December 4, 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.
The Buckle, Inc. is a retailer of casual apparel, footwear, and accessories. The Company operates approximately 440 retail stores in 42 states. The Company markets a wide selection of casual apparel including denim, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear. It also provides customer services, such as free hemming, free gift-packaging, easy layaways, the Buckle private label credit card, and a guest loyalty program. The Company offers denims from brands such as Miss Me, Rock Revival, KanCan, Hidden, Flying Monkey, Levi's, Preme, Smoke Rise, Ariat, Good American, and Wrangler. Other key 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, and SAXX.