The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended October 28, 2023 was $51.8 million, or $1.05 per share ($1.04 per share on a diluted basis).

Net sales for the 13-week fiscal quarter ended October 28, 2023 decreased 8.7 percent to $303.5 million from net sales of $332.3 million for the prior year 13-week fiscal quarter ended October 29, 2022. Comparable store net sales for the 13-week period ended October 28, 2023 decreased 9.2 percent from comparable store net sales for the prior year 13-week period ended October 29, 2022. Online sales decreased 16.2 percent to $46.1 million for the 13-week period ended October 28, 2023, compared to net sales of $55.0 million for the 13-week period ended October 29, 2022.

Net sales for the 39-week fiscal period ended October 28, 2023 decreased 6.9 percent to $878.7 million from net sales of $943.4 million for the prior year 39-week fiscal period ended October 29, 2022. Comparable store net sales for the 39-week period ended October 28, 2023 decreased 7.3 percent from comparable store net sales for the prior year 39-week period ended October 29, 2022. Online sales decreased 9.4 percent to $141.0 million for the 39-week period ended October 28, 2023, compared to net sales of $155.6 million for the 39-week period ended October 29, 2022.

Net income for the third quarter of fiscal 2023 was $51.8 million, or $1.05 per share ($1.04 per share on a diluted basis), compared with net income of $61.4 million, or $1.25 per share ($1.24 per share on a diluted basis) for the third quarter of fiscal 2022.

Net income for the 39-week fiscal period ended October 28, 2023 was $140.3 million, or $2.83 per share ($2.81 per share on a diluted basis), compared with net income of $166.8 million, or $3.39 per share ($3.37 per share on a diluted basis) for the 39-week period ended October 29, 2022.

Management will hold a live audio webcast at 10:00 a.m. EST today to discuss results for the quarter. To register for the live event, please visit https://buckle.zoom.us/webinar/register/WN_A5_s0zUvQ1yhslHLlO71Ww. A replay of the event can be accessed through Buckle’s investor relations website within twenty-four hours after the conclusion of the live event (https://corporate.buckle.com/investors/earnings-webcasts).

About Buckle

Buckle is a specialty retailer focused on delivering exceptional service and style through unforgettable experiences. Offering a curated mix of high-quality, on-trend apparel, accessories, and footwear, Buckle is for those living the styled life. 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 445 retail stores in 42 states, which includes the opening of two new stores during fiscal November located in Park City, Utah and Bristol, Tennessee. As of the end of the fiscal quarter, it operated 443 stores in 42 states compared with 441 stores in 42 states at the end of the third quarter of fiscal 2022.

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.

Note: News releases and other information on The Buckle, Inc. can be accessed at www.buckle.com.

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