The Buckle, Inc. Reports May 2020 Net Sales
June 04, 2020 at 06:50 AM EDT
The Buckle, Inc. (NYSE: BKE) announced today that total net sales for the 4-week fiscal month ended May 30, 2020 decreased 16.8 percent to $51.2 million from net sales of $61.5 million for the prior year 4-week fiscal month ended June 1, 2019. Net sales for the 17-week fiscal period ended May 30, 2020 decreased 36.6 percent to $166.6 million from net sales of $262.8 million for the prior year 17-week fiscal period ended June 1, 2019.
As previously announced, Buckle closed all brick and mortar stores due to the COVID-19 pandemic for an indefinite period beginning March 18, 2020. The Company began the process of reopening certain stores the week of April 26, 2020, following state and local reopening guidelines. As of May 30, 2020, 367 stores had reopened, with approximately 30 additional stores reopening the week of May 31, 2020. The Company’s online store has remained open without interruption. As a result of the store closures, the Company plans to only report total net sales each month and does not plan to separately report comparable store sales during this time. Further, the Company will not provide additional commentary through its recorded monthly sales narrative during this time. The Company will continue to evaluate the appropriate time to resume its regular monthly sales reporting as normal business operations resume.
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 444 retail stores in 42 states, which reflects 2 stores that the Company will not reopen following the COVID-19 closures. The Company operated 449 stores in 42 states as of June 4, 2019.
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 www.buckle.com