The Buckle, Inc. Press Release Narrative for 10/10/2013
Our October 10, 2013, press release reported that comparable store sales, for stores open at least one full year, for the five-week period ended October 5, 2013, were down 4.5 percent in comparison to the prior year five-week period ended October 6, 2012. Total net sales for the five-week fiscal month were $99.1 million compared to net sales of $99.1 million in the prior year five-week fiscal month, which ended on September 29, 2012. Please note that due to the 53rd week in fiscal 2012, comparable store sales are compared to the same
5-week period in the prior year (ending on October 6, 2012) while total sales are compared to the prior year fiscal period (ending on September 29, 2012).
On the men's side of the business, total sales for the five-week fiscal period ending October 5, 2013, were up just slightly in comparison to the prior year five-week fiscal period ending September 29, 2012. The men's business represented approximately 38.5 percent of total sales for the month compared to approximately 38.0 percent in the prior year fiscal September. Strong categories on the men's side (compared to the same five weeks in the prior year) included knit shirts. 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 five-week fiscal period ending October 5, 2013, were down just slightly in comparison to the prior year five-week fiscal period ending September 29, 2012. The women's business represented approximately 61.5 percent of total sales for the month compared to approximately 62.0 percent in the prior year fiscal September. Strong categories on the women's side (compared to the same five weeks in the prior year) included woven tops, sweaters, accessories, and footwear. For the fiscal month, overall price points on the women's side of the business were down approximately 3.5 percent.
Within the men's and women's categories combined, accessory sales for the fiscal month increased approximately 4.5 percent in comparison to the prior year fiscal September, while footwear sales increased approximately 13.5 percent. These two categories accounted for approximately 8.5 percent and 6.5 percent, respectively, of the current fiscal September's Net Sales. This compares with approximately 8.0 percent and 5.5 percent for each of these categories for the same period in the prior year. Average accessory price points were down approximately 1.0 percent and average footwear price points were up approximately 15.0 percent for the fiscal month.
UPT's were up approximately 5.0 percent and the average transaction value was up approximately 1.5 percent for the five-week fiscal month ended October 5, 2013, compared to the prior year five-week month ended September 29, 2012.
Buckle currently operates 451 retail stores in 43 states compared to 440 stores in 43 states as of October 10, 2012.
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.