The Buckle, Inc. (BKE) Earnings Call Transcript & Summary

Hi. This is Adam Akerson with Buckle, and this is a recording of Buckle's commentary related to the company's February 2021 sales press release. Our March 4, 2021 press release reported the comparable store sales for stores opened at least 1 full year for the 4-week period ended February 27, 2021, increased 5.3% in comparison to the prior year 4-week period ended February 29, 2020. Total net sales for the 4-week fiscal month increased 5% to $66.1 million compared to net sales of $63.0 million in the prior year 4-week fiscal month ended February 29, 2020. On the men's side of the business, total sales for the 4-week fiscal period ended February 27, 2021, were up 4.5% in comparison to the prior year 4-week period ended February 29, 2020. The men's business represented approximately 50.5% of total sales for both the current and prior year fiscal February. For the fiscal month, overall price points on the men's side of the business were down approximately 1%. On the women's side of the business, total sales for the 4-week fiscal period ended February 27, 2021, were up approximately 3.5% in comparison to the prior year 4-week period ended February 29, 2020. The women's business represented approximately 49.5% of total sales for both the current and prior year fiscal February. For the month, overall price points on the women's side of the business were up about 4.5%. Within the men's and women's categories combined, accessory sales for the fiscal month were up approximately 5% in comparison to the prior year fiscal February. And footwear sales were up about 24.5%. These 2 categories accounted for approximately 8.5% and 10.5%, respectively, of the current fiscal February net sales. This compares with approximately 8.5% and 9%, respectively, for each in the prior year fiscal February. Average accessory price points were up approximately 2.5%, and average footwear price points were up about 1.5% for the fiscal month. For the month, UPTs were down slightly, while the average transaction value increased approximately 2% compared to the prior year fiscal February. Buckle currently operates 442 retail stores in 42 states compared to 446 stores in 42 states as of March 4, 2020. 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. I hope this brief commentary has answered your questions. If however, you have any further questions, please call Tom Heacock at (308) 238-2443 or myself at (308) 338-2779. Thanks.