The Buckle, Inc. Press Release Narrative for 7/10/2014
Our July 10, 2014, press release reported that comparable store sales, for stores open at least one full year, for the five-week period ended July 5, 2014, were up 0.7 percent in comparison to the prior year five-week period ended July 6, 2013. Total net sales for the five-week fiscal month were up 2.8 percent to $84.8 million compared to net sales of $82.5 million in the prior year five-week fiscal month, which ended on July 6, 2013.
On the men's side of the business, total sales for the five-week fiscal period ending July 5,
2014, were up approximately 6.5 percent in comparison to the prior year five-week fiscal period ending July 6, 2013. The men's business represented approximately 46.5 percent of total sales for the month versus approximately 45.0 percent in the prior year fiscal June. Strong categories on the men's side included denim and casual bottoms, woven and knit shirts, shorts, and accessories. For the fiscal month, overall price points on the men's side of the business were down just slightly.
On the women's side of the business, total sales for the five-week fiscal period ending July
5, 2014, were down just slightly in comparison to the prior year five-week fiscal period ending July 6, 2013. The women's business represented approximately 53.5 percent of total sales for the month versus approximately 55.0 percent in the prior year fiscal June. Strong categories on the women's side included casual bottoms, sweaters, active apparel, dresses, and footwear. For the fiscal month, overall price points on the women's side of the business were up approximately 2.5 percent.
Within the men's and women's categories combined, accessory sales for the fiscal month were up approximately 6.5 percent in comparison to the prior year fiscal June, while footwear sales were up approximately 1.5 percent. These two categories accounted for approximately 10.5 percent and 6.0 percent, respectively, of the current fiscal June's Net Sales. This compares with approximately 10.0 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 8.5 percent and average footwear price points were up approximately 3.0 percent for the fiscal month.
UPT's were up approximately 1.5 percent and the average transaction value was up approximately 3.5 percent for the five-week fiscal month ended July 5, 2014, compared to the prior year five-week fiscal month ended July 6, 2013.
With the closure of one store during fiscal June and the opening of two new stores and closure of one store this week, Buckle currently operates 453 retail stores in 44 states compared to 444 stores in 43 states as of July 10, 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 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.