The Buckle, Inc. (NYSE: BKE) announced today that comparable store net sales, for stores open at least one year, for the four-week period ended August 27, 2011 increased 8.3 percent from comparable store net sales for the four-week period ended August 28, 2010. Net sales for the four-week fiscal month ended August 27, 2011 increased 11.9 percent to $95.3 million from net sales of $85.2 million for the prior year four-week fiscal month ended August 28, 2010.
Comparable store net sales year-to-date for the 30-week period ended August 27, 2011 increased 8.5 percent from comparable store net sales for the 30-week period ended August 28, 2010. Net sales for the 30-week fiscal period ended August 27, 2011 increased 12.1 percent to $547.8 million from net sales of $488.6 million for the prior year 30-week fiscal period ended August 28, 2010.
During the four-week fiscal month ended August 27, 2011, the Company repurchased 8,600 shares of its common stock at an average price of $34.45 per share. The shares were purchased pursuant to the 1,000,000 share corporate stock repurchase program authorized by the Board of Directors on November 20, 2008. The Company had 543,900 shares remaining to complete this authorization as of the end of the fiscal month.
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 428 retail stores in 42 states. The Company operated 420 stores in 41 states as of September 1, 2010. 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
Karen B. Rhoads, 308-236-8491
Chief Financial Officer
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