The Buckle, Inc. Press Release Narrative for 2/7/2013
Our February 7, 2013, press release reported that comparable store sales, for stores open at least one full year, for the five-week period ended February 2, 2013, decreased 2.0 percent in comparison to the prior year five-week period ended February 4, 2012. Total net sales for the five-week fiscal month increased 30.7 percent to $78.8 million compared to net sales of $60.3 million in the prior year four-week fiscal month, which ended on January
28, 2012. Please note that January 2013 was a five-week fiscal month, ending Buckle's 53- week fiscal year, while January 2012 was a four-week fiscal month, ending a 52-week fiscal year.
On the men's side of the business, total sales for the five-week fiscal period ending February 2, 2013, were up approximately 35.0 percent in comparison to the prior year four-week fiscal period ending January 28, 2012. The men's business represented approximately 40.5 percent of total sales for the month versus approximately 39.5 percent in the prior year fiscal January. Strong categories on the men's side included denim, woven shirts, active apparel, outerwear, and accessories. For the fiscal month, overall price points on the men's side of the business were up approximately 2.0 percent.
On the women's side of the business, total sales for the five-week fiscal period ending February 2, 2013, were up approximately 27.5 percent in comparison to the prior year four-week fiscal period ending January 28, 2012. The women's business represented approximately 59.5 percent of total sales for the month versus approximately 60.5 percent in the prior year fiscal January. Strong categories on the women's side included woven tops, active apparel, accessories, and footwear. For the fiscal month, overall price points on the women's side of the business were up approximately 4.0 percent.
Within the men's and women's categories combined, accessory sales for the fiscal month increased approximately 44.0 percent in comparison to the prior year fiscal January, while footwear sales increased approximately 24.5 percent. These two categories accounted for approximately 7.0 percent and 4.0 percent, respectively, of the current fiscal January's Net Sales. This compares with approximately 6.5 percent and 4.5 percent for each of these categories for the same period in the prior year. Average accessory price points were up approximately 7.5 percent and average footwear price points were up approximately 14.5 percent for the fiscal month.
UPT's were up slightly and the average transaction value was up approximately 3.5 percent for the five-week fiscal month ended February 2, 2013, compared to the four-week period ended January 28, 2012.
Buckle currently operates 440 retail stores in 43 states compared to 431 stores in 43 states as of February 7, 2012.
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.