Stock Quote

The Buckle, Inc. Reports January 2008 Net Sales

KEARNEY, Neb., Feb. 7 /PRNewswire-FirstCall/ -- The Buckle, Inc. (NYSE:BKE) announced today that comparable store net sales, for stores open at least one year, for the 4-week fiscal month ended February 2, 2008, increased 19.1 percent from comparable store net sales for the 4-week period ended February 3, 2007. Total net sales were up 26.4 percent compared to the 4-week period ended February 3, 2007. Net sales for the 4-week fiscal month ended February 2, 2008 decreased 2.3 percent to $39.2 million from net sales of $40.1 million for the prior year 5-week fiscal month ended February 3, 2007.

Comparable store net sales for the fourth quarter ended February 2, 2008 increased 18.7 percent from comparable store net sales for the 13-week period ended February 3, 2007. Total net sales were up 25.3 percent compared to the 13-week period ended February 3, 2007. Net sales for the 13-week fourth quarter ended February 2, 2008 increased 18.4 percent to $207.1 million compared to net sales of $175.0 million for the prior year 14-week fourth quarter ended February 3, 2007.

Comparable store net sales for the fiscal year ended February 2, 2008 increased 13.2 percent from comparable store net sales for the 52-week period ended February 3, 2007. Total net sales were up 18.8 percent compared to the 52-week period ended February 3, 2007. Net sales for the 52-week fiscal year ended February 2, 2008 increased 17.0 percent to $620.0 million from net sales of $530.1 million for the prior year 53-week fiscal year ended February 3, 2007.

Due to the 53rd week in fiscal 2006, comparable store net sales for the month, quarter, and year-to-date periods are compared to the 4-week, 13-week, and 52-week periods ended February 3, 2007.

During the 4-week period ended February 2, 2008, the Company repurchased 30,000 shares of its common stock at an average price of $31.95 per share. These shares were purchased pursuant to the 500,000 share corporate stock repurchase program authorized by the Board of Directors on November 27, 2007. The Company has 237,600 shares remaining under this authorization.

About Buckle

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 recently closed one store on January 29, 2008 and currently operates 368 retail stores in 38 states compared to 350 stores in 38 states as of February 7, 2007. 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.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.