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 January 2022 sales press release. Our February 3, 2022 press release reported a comparable store sales for stores open at least 1 full year for the 4-week period ended January 29, 2022, increased 4.2% in comparison to the prior year 4-week period ended January 30, 2021. Total net sales for the 4-week fiscal month increased 2.9% to $64.9 million compared to net sales of $63.1 million in the prior year 4-week fiscal month ended January 30, 2021. On the men's side of the business, total sales for the 4-week fiscal period ended January 29, 2022, were up 6.5% in comparison to the prior year 4-week period ended January 30, 2021. The men's business represented approximately 49% of total sales for the month versus approximately 47.5% in the prior year fiscal January. For the fiscal month, overall price points on the men's side of the business were up approximately 5.5%. On the women's side of the business, total sales for the 4-week fiscal period ended January 29, 2022, were up approximately 1% in comparison to the prior year 4-week period ended January 30, 2021. The women's business represented approximately 51% of total sales for the month versus approximately 52.5% in the prior year fiscal January. For the fiscal month, overall price points on the women's side of the business were up approximately 3.5%. Within the men's and women's categories combined, accessory sales for the fiscal month were up approximately 15.5% in comparison to the prior year fiscal January, while footwear sales were down about 19.5%. These 2 categories accounted for approximately 8.5% and 8%, respectively, of the current fiscal January net sales. This compares with approximately 7.5% and 10.5%, respectively, for each in the prior year fiscal January. Average accessory price points were up approximately 9.5%, and average footwear price points were up about 5.5% for the fiscal month. For the month, UPTs were down approximately 1.5%, while the average transaction value increased approximately 3% compared to the prior year fiscal January. Buckle currently operates 439 retail stores in 42 states compared to 442 stores in 42 states as of February 3, 2021. It's 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.