The Buckle, Inc. Reports August 2007 Net Sales
September 06, 2007 at 07:00 AM EDT
KEARNEY, Neb., Sept. 6 /PRNewswire-FirstCall/ -- The Buckle, Inc. (NYSE:BKE) announced today that net sales for the 4-week fiscal month ended September 1, 2007 increased 16.3 percent to $59.9 million from net sales of $51.5 million for the prior year 4-week fiscal month ended August 26, 2006. Comparable store net sales, for stores open at least one year, increased 16.7 percent from comparable store net sales for the 4-week period ended September 2, 2006. Total sales were up 22.9 percent compared to the same 4-week period ended September 2, 2006.
Net sales year-to-date, for the 30-week fiscal period ended September 1, 2007, increased 15.9 percent to $305.3 million from net sales of $263.5 million for the prior year 30-week fiscal period ended August 26, 2006. Comparable store net sales year-to-date increased 9.8 percent from comparable store net sales for the 30-week period ended September 2, 2006.
Due to the 53rd week in fiscal 2006, comparable store net sales for the month and year-to-date periods are compared to the 4-week and 30-week periods ended September 2, 2006.
During the four-week period ended September 1, 2007, the Company repurchased 95,700 shares of its common stock at an average price of $34.38 per share. These shares were purchased pursuant to the 1,500,000 share corporate stock repurchase program authorized by the Board of Directors. The Company has 284,400 shares remaining to be purchased to complete this authorization.
Offering a unique mix of high-quality, on-trend apparel, accessories, and footwear, Buckle caters to fashion-conscious young men and women. Known as a denim destination, each store carries a wide selection of fits, styles, and finishes from leading denim brands, including the Company's exclusive brand, BKE. Headquartered in Kearney, Nebraska, Buckle currently operates 364 retail stores in 38 states compared to 346 stores in 38 states as of September 6, 2006. During fiscal August, the Company opened two new stores. To listen to the Company's recorded monthly sales commentary, please call (308) 238-2500.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995;
All forward-looking statements made by the Company 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. The Company does not undertake to publicly update or revise any forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.
News releases and other information about The Buckle, Inc., can be found on the Internet at http://www.buckle.com
Contact: Karen B. Rhoads, Chief Financial Officer
The Buckle, Inc. 308/236-8491
Source: The Buckle, Inc.