The Buckle, Inc. Reports First Quarter Net Earnings

KEARNEY, Neb., May 26, 2022–(BUSINESS WIRE)–The Buckle, Inc. (NYSE: BKE) today announced that net income for the fiscal quarter ended April 30, 2022 was $55.3 million, or $1.12 per share (1, $12 per share on a diluted basis).

Net sales for the fiscal 13-week quarter ended April 30, 2022 increased 3.3% to $309.1 million from net sales of $299.1 million for the fiscal 13-week quarter of prior year ended May 1, 2021. Comparable store net sales for the 13-week period the period ended April 30, 2022 increased 3.7% over same-store net sales for the 13-week period of prior year ended May 1, 2021. Online sales increased 1.1% to $54.3 million for the 13-week period ended April 30, 2022, compared to net sales of 53.7 million for the 13-week period ended May 1, 2021.

Net earnings for the first quarter of Fiscal 2022 were $55.3 million, or $1.12 per share ($1.12 per share on a diluted basis), compared to net earnings of $57.3 million, or $1.17 per share ($1.16 per share on a diluted basis) for the first quarter of fiscal 2021.

Management will hold a conference call at 10:00 a.m. EDT today to discuss the results for the quarter. To join the call, please dial (877) 226-8189 for domestic calls or (409) 207-6980 for international calls and quote the conference code 6007325. A replay of the call will be available for one two-week period starting today. at 1:00 p.m. EDT by dialing (866) 207-1041 for domestic calls or (402) 970-0847 for international calls and entering the conference code 7485794.

About Loop

Offering a unique mix of high quality, on-trend clothing, accessories and footwear, Buckle caters to fashion-conscious young men and women. Recognized as a denim destination, each store offers a wide selection of fits, styles and finishes from leading denim brands, including the company’s exclusive brand, BKE. Based in Kearney, Nebraska, Buckle currently operates 440 retail stores in 42 states, which includes opening a new store this week in Spanish Fork, Utah. At the end of the fiscal quarter, it operated 439 stores in 42 states, compared to 442 stores in 42 states at the end of the first quarter of fiscal 2021.

The story continues

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: All forward-looking statements made by the Company involve significant risks and uncertainties and are subject to change based on factors that may be beyond the Company’s control. Accordingly, the future performance and financial results of the Company may differ materially from those expressed or implied by such forward-looking statements. These 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 clearly indicate that the projected results expressed or implied herein will not be achieved.

Note: Press releases and other information about The Buckle, Inc. can be accessed at www.boucle.com on the Internet.

Financial tables to follow

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220526005093/en/

contacts

Thomas B. Heacock, Chief Financial Officer
The Loop, Inc.
(308) 236-8491