The Buckle, Inc. Reports November 2007 Net Sales
December 06, 2007 at 07:00 AM EST
KEARNEY, Neb., Dec. 6 /PRNewswire-FirstCall/ -- The Buckle, Inc. (NYSE:BKE) announced today that net sales for the 4-week fiscal month ended December 1, 2007 increased 28.8 percent to $59.4 million from net sales of $46.1 million for the prior year 4-week fiscal month ended November 25, 2006. Comparable store net sales, for stores open at least one year, increased 18.2 percent from comparable store net sales for the 4-week period ended December 2, 2006. Total net sales were up 24.7 percent compared to the same 4-week period ended December 2, 2006.
Net sales year-to-date, for the 43-week fiscal period ended December 1, 2007, increased 17.7 percent to $472.3 million from net sales of $401.2 million for the prior year 43-week fiscal period ended November 25, 2006. Comparable store net sales year-to-date increased 11.5 percent from comparable store net sales for the 43-week period ended December 2, 2006. Total net sales were up 16.8 percent compared to the same 43-week period ended December 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 43-week periods ended December 2, 2006.
During the four-week period ended December 1, 2007, the Company repurchased 256,200 shares of its common stock at an average price of $33.89 per share. These shares were purchased pursuant to the 1,500,000 share corporate stock repurchase program authorized by the Board of Directors on October 12, 2005, and amended on March 24, 2006. The Company has 28,200 shares remaining to be purchased to complete this authorization. Additionally, on November 27, 2007, the Board of Directors authorized a new 500,000 share corporate stock repurchase program, which brings the Company's total shares remaining to be purchased under the two programs to 528,200 shares.
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 369 retail stores in 38 states compared to 354 stores in 38 states as of December 6, 2006. During fiscal November, 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.