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

Hi. This is Adam Akerson with Buckle, and this is recording of Buckle's commentary regarding the company's January 2025 sales press release. Our February 6, 2025 press release reported the comparable store sales for stores open at least 1 full year for the 4-week period ended February 1, 2025, increased 4.4% in comparison to the prior year 4-week period in February 3, 2024. Total net sales for the 4-week fiscal month decreased 18% to $59.5 million compared to net sales of $72.6 million in the prior year 5-week fiscal month ended February 3, 2024. On the men's side of the business, total sales for the 4-week fiscal period ended February 1, 2025, decreased 2.5% in comparison to the prior year 4-week period ended February 3, 2024. The men's business represented approximately 46.5% of total sales for the month versus approximately 50.5% 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 February 1, 2025, increased 14% in comparison to the prior year 4-week period ended February 3, 2024. The women's business represented approximately 53.5% of total sales for the month versus approximately 49.5% in the same period a year ago. For the fiscal month, overall price points on the women's side of the business increased about 4.5%. Within the men's and women's categories combined, accessory sales for the fiscal month were up approximately 10% in comparison to the prior year 4-week period ended February 3, 2024, while footwear sales were down about 7.5%. These 2 categories accounted for approximately 10% and 4.5%, respectively, of the current fiscal January net sales. This compares with approximately 9.5% and 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 2.5% for the fiscal month. For the month, UPTs decreased approximately 3% and the average transaction value increased slightly compared to the prior year 4-week period ended February 3, 2024. Buckle currently operates 440 retail stores in 42 states compared to 444 stores in 42 states as of February 6, 2024. 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.