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

Hi. This is Adam Akerson of Buckle and this is a recording of Buckle's commentary regarding the company's August 2024 sales press release. Our September 5, 2024 press release reported the comparable store sales for stores open at least 1 full year for the 4-week period ended August 31, 2024, increased 1.7% in comparison to the prior year 4-week period ended September 2, 2023. Total net sales for the 4-week fiscal month decreased 6.6% to $105.1 million compared to net sales of $112.5 million in the prior year 4-week fiscal month ended August 26, 2023. On the men's side of the business, total sales for the 4-week fiscal period ended August 31, 2024, decreased slightly in comparison to the prior year 4-week period ended September 2, 2023. The men's business represented approximately 54% of total sales for the month versus approximately 55.5% for the same period in the prior year. For the fiscal month, overall price points on the men's side of the business were up approximately 2.5%. On the women's side of the business, total sales for the full week fiscal period ended August 31, 2024, increased 5.5% in comparison to the prior year 4-week period ended September 2, 2023. The women's business represented approximately 46% of total sales for the month versus approximately 44.5% in the same period a year ago. For the fiscal month, overall price points on the women's side of the business increased about 0.5%. Within the men's and women's categories combined, accessory sales for the fiscal month were up approximately 4% in comparison to the prior year 4-week period ended September 2, 2023, while footwear sales were down about 15.5%. These 2 categories accounted for approximately 10% and 4.5%, respectively, of the current fiscal August net sales. This compares with approximately 10% and 5.5%, respectively, for each in the prior year. Average accessory price points for the month were down about 1% and average footwear price points were up about 6.5% for the fiscal month. For the month, UPTs increased slightly and the average transaction value increased approximately 2% compared to the prior year 4-week period in September 2, 2023. Buckle currently operates 441 retail stores in 42 states compared to 442 stores in 42 states as of September 5, 2023. 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 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 308-338-277. Thanks.