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

Hi. This is Adam Akerson with Buckle, and this is a recording of Buckle's commentary regarding the company's November 2024 sales press release. Our December 5, 2024, press release reported that comparable store sales for stores opened at least 1 full year for the 4-week period ended November 30, 2024, increased 2.5% in comparison to the prior year 4-week period ended December 2, 2023. Total net sales for the 4-week fiscal month increased 10.8% to $117.5 million compared to net sales of $106 million in the prior year 4-week fiscal month ended November 25, 2023. On the men's side of the business, total sales for the 4-week fiscal period ended November 30, 2024, decreased 0.5% in comparison to the prior year 4-week period ended December 2, 2023. The men's business represented approximately 56.5% of total sales for the month versus approximately 58.5% 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 about 0.5%. On the women's side of the business, total sales for the 4-week fiscal period ended November 30, 2024, increased 9.5% in comparison to the prior year 4-week period ended December 2, 2023. The women's business represented approximately 43.5% of total sales for the month versus approximately 41.5% 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 2.5% in comparison to the prior year 4-week period ended December 2, 2023, while footwear sales were down about 10%. These 2 categories accounted for approximately 9.5% and 5%, respectively, of the current fiscal November net sales. This compares with approximately 9.5% and 6%, respectively, for each in the prior year. Accessory price points for the month were down about 3% and average footwear price points were up about 4% for the fiscal month. For the month, UPTs increased approximately 0.5% and the average transaction value also increased about 0.5% compared to the prior year 4-week period ended December 2, 2023. Buckle currently operates 445 retail stores in 42 states compared to 447 stores in 42 states as of December 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 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.