KEARNEY, Neb.--(BUSINESS WIRE)--The Buckle, Inc. (NYSE: BKE) announced today that comparable store net sales, for stores open at least one year, for the 4-week period ended April 29, 2017 decreased 3.5 percent in comparison to comparable store net sales for the 4-week period ended April 30, 2016. Net sales for the 4-week fiscal month ended April 29, 2017 decreased 3.9 percent to $62.6 million compared to net sales of $65.2 million for the prior year 4-week fiscal month ended April 30, 2016.
Comparable store net sales year-to-date for the 13-week period ended April 29, 2017 decreased 12.7 percent from comparable store net sales for the 13-week period ended April 30, 2016. Net sales for the 13-week fiscal period ended April 29, 2017 decreased 12.8 percent to $212.3 million from net sales of $243.5 million for the prior year 13-week fiscal period ended April 30, 2016.
Reported net sales for the 4-week and 13-week fiscal periods ended April 29, 2017 were impacted by the Company’s closing of 6 stores during fiscal 2016 and 5 stores during the first quarter of fiscal 2017. Additionally, prior year reported net sales and comparable store net sales for the 4-week fiscal month were net of a $3.0 million adjustment recorded as a reduction of revenue to accrue for estimated future rewards related to the Company’s new Guest Loyalty program. Absent the impact of the Guest Loyalty program (both reward redemptions and accruals for estimated future rewards), total net sales for the fiscal month and year-to-date periods ended April 29, 2017 were down 7.3 percent and 12.5 percent, respectively, while comparable store net sales for the fiscal month and year-to-date periods ended April 29, 2017 were down 7.0 percent and 12.3 percent, respectively.
The Company will announce first quarter earnings the morning of Thursday, May 18, 2017. Management will hold a conference call at 10:30 a.m. EDT on May 18, 2017 to discuss results for the quarter. To participate in the call, please call (800) 230-1085 for domestic calls or (612) 234-9960 for international calls and reference the conference code 423611. A replay of the call will be available for a two-week period beginning May 18, 2017 at 12:30 p.m. EDT by calling (800) 475-6701 for domestic calls or (320) 365-3844 for international calls and entering the conference code 423611.
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 462 retail stores in 44 states, which includes the April 17th closing of a store in Lewisville, Texas. The Company operated 467 stores in 44 states as of May 4, 2016. 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 www.buckle.com