KEARNEY, NE — The Buckle, Inc. (NYSE: BKE) announced today that comparable store net sales, for stores open at least one year, for the 4-week period ended April 29, 2017 decreased 3.5 percent in comparison to comparable store net sales for the 4-week period ended April 30, 2016.
Net sales for the 4- week fiscal month ended April 29, 2017 decreased 3.9 percent to $62.6 million compared to net sales of $65.2 million for the prior year 4-week fiscal month ended April 30, 2016.
Comparable store net sales year-to-date for the 13-week period ended April 29, 2017 decreased 12.7 percent from comparable store net sales for the 13-week period ended April 30, 2016. Net sales for the 13-week fiscal period ended April 29, 2017 decreased 12.8 percent to $212.3 million from net sales of $243.5 million for the prior year 13-week fiscal period ended April 30, 2016.
Reported net sales for the 4-week and 13-week fiscal periods ended April 29, 2017 were impacted by the Company’s closing of 6 stores during fiscal 2016 and 5 stores during the first quarter of fiscal 2017. Additionally, prior year reported net sales and comparable store net sales for the 4-week fiscal month were net of a $3.0 million adjustment recorded as a reduction of revenue to accrue for estimated future rewards related to the Company’s new Guest Loyalty program. Absent the impact of the Guest Loyalty program (both reward redemptions and accruals for estimated future rewards), total net sales for the fiscal month and year-to-date periods ended April 29, 2017 were down 7.3 percent and 12.5 percent, respectively, while comparable store net sales for the fiscal month and year-to-date periods ended April 29, 2017 were down 7.0 percent and 12.3 percent, respectively.
About Buckle
Offering a unique mix of high-quality, on-trend apparel, accessories, and footwear, Buckle caters to fashion-conscious young men and women. Known as a denim destination, each store carries a wide selection of fits, styles, and finishes from leading denim brands, including the Company’s exclusive brand, BKE. Headquartered in Kearney, Nebraska, Buckle currently operates 462 retail stores in 44 states, which includes the April 17th closing of a store in Lewisville, Texas. The Company operated 467 stores in 44 states as of May 4, 2016.
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