The Buckle, Inc. Reports Fourth Quarter and Fiscal Year 2017 Net Income

The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended February 3, 2018 was $42.0 million, or $0.87 per share ($0.87 per share on a diluted basis). Net income for the fiscal year ended February 3, 2018 was $89.7 million, or $1.86 per share ($1.85 per share on a diluted basis).

Net sales for the 14-week fiscal quarter ended February 3, 2018 increased 0.4 percent to $281.2 million from net sales of $280.0 million for the prior year 13-week fiscal quarter ended January 28, 2017. Comparable store net sales for the 14-week period ended February 3, 2018 decreased 3.2 percent from comparable store net sales for the prior year 14-week period ended February 4, 2017. Online sales increased 4.0 percent to $33.5 million for the 14-week period ended February 3, 2018, compared to net sales of $32.2 million for the 13-week period ended January 28, 2017.

Net sales for the 53-week fiscal year ended February 3, 2018 decreased 6.3 percent to $913.4 million from net sales of $974.9 million for the 52-week fiscal year ended January 28, 2017. Comparable store net sales for the 53-week period ended February 3, 2018 decreased 7.2 percent from comparable store net sales for the prior year 53-week period ended February 4, 2017. Online sales decreased 1.6 percent to $98.2 million for the 53-week period ended February 3, 2018, compared to net sales of $99.8 million for the 52-week period ended January 28, 2017.

Net income for the fourth quarter of fiscal 2017 was $42.0 million, or $0.87 per share ($0.87 per share on a diluted basis), compared with $36.0 million, or $0.75 per share ($0.74 per share on a diluted basis) for the fourth quarter of fiscal 2016.

Net income for the fiscal year ended February 3, 2018 was $89.7 million, or $1.86 per share ($1.85 per share on a diluted basis), compared with $98.0 million, or $2.04 per share ($2.03 per share on a diluted basis) for the fiscal year ended January 28, 2017.

Management will hold a conference call at 10:00 a.m. EDT today to discuss fourth quarter results. To participate in the call, please call (800) 288-9626 for domestic calls or (612) 332-0637 for international calls and reference the conference code 445869. A replay of the call will be available for a two-week period beginning March 16, 2018 at 12:00 p.m. EDT by calling (800) 475-6701 for domestic calls or (320) 365-3844 for international calls and entering the conference code 445869.

About Buckle

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 456 retail stores in 43 states. As of the end of the fiscal year, it operated 457 stores in 44 states compared with 467 stores in 44 states at the end of fiscal 2016.

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 on the Internet.

View source version on businesswire.com: http://www.businesswire.com/news/home/20180316005098/en/