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

This is Akerson with Buckle, and this is a recording of Buckle's commentary regarding the company's October 2024 sales press release. Our November 7, 2024, press release reported the comparable store sales for stores opened at least 1 full year for the 4-week period ended November 2, 2024, increased 0.6% in comparison to the prior year 4-week period, ended November 4, 2023. Total net sales for the 4-week fiscal month increased 0.1% to $87.9 million compared to net sales of $87.8 million in the prior year 4-week fiscal month ended October 28, 2023. On the men's side of the business, total sales for the 4-week fiscal period ended November 2, 2024, decreased 1.5% in comparison to the prior year 4-week period ended November 4, 2023. The men's business represented approximately 53% of total sales for the month versus approximately 54.5% 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 slightly. On the women's side of the business, total sales for the 4-week fiscal period ended November 2, 2024, increased 5% in comparison to the prior year 4-week period ended November 4, 2023. The women's business represented approximately 47% of total sales for the month versus approximately 45.5% 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 5% in comparison to the prior year 4-week period ended November 4, 2023, while footwear sales were down about 9%. These 2 categories accounted for approximately 9.5% and 5%, respectively, of the current fiscal October net sales. This compares with approximately 9.5% and 6%, respectively, for each in the prior year. Average accessory price points for the month were up about 0.5% and average footwear price points were up about 5% for the fiscal month. For the month, UPT's decreased slightly and the average transaction value increased about 0.5% compared to the prior year 4-week period ended November 4, 2023. Buckle currently operates 445 retail stores in 42 states compared to 444 stores in 42 states as of November 7, 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 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.