The Buckle, Inc. Reports Third Quarter Net Income

The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended November 3, 2018 was $20.5 million, or $0.42 per share ($0.42 per share on a diluted basis).

Net sales for the 13-week fiscal quarter ended November 3, 2018 decreased 4.1 percent to $215.1 million from net sales of $224.3 million for the prior year 13-week fiscal quarter ended October 28, 2017. Comparable store net sales for the 13-week period ended November 3, 2018 decreased 1.4 percent from comparable store net sales for the prior year 13-week period ended November 4, 2017. Online sales increased 8.8 percent to $25.5 million for the 13-week period ended November 3, 2018, compared to net sales of $23.4 million for the 13-week period ended October 28, 2017.

Net sales for the 39-week fiscal period ended November 3, 2018 decreased 1.8 percent to $621.1 million from net sales of $632.2 million for the prior year 39-week fiscal period ended October 28, 2017. Comparable store net sales for the 39-week period ended November 3, 2018 decreased 1.1 percent from comparable store net sales for the prior year 39-week period ended November 4, 2017. Online sales increased 7.8 percent to $69.8 million for the 39-week period ended November 3, 2018, compared to net sales of $64.7 million for the 39-week period ended October 28, 2017.

Due to the 53^rd week in fiscal 2017, comparable store net sales for the quarter and year-to-date periods are compared to the 13-week and 39-week periods ended November 4, 2017.

Net income for the third quarter of fiscal 2018 was $20.5 million, or $0.42 per share ($0.42 per share on a diluted basis), compared with $19.9 million, or $0.41 per share ($0.41 per share on a diluted basis) for the third quarter of fiscal 2017.

Net income for the 39-week fiscal period ended November 3, 2018 was $54.5 million, or $1.13 per share ($1.12 per share on a diluted basis), compared with $47.7 million, or $0.99 per share ($0.99 per share on a diluted basis) for the 39-week period ended October 28, 2017.

Management will hold a conference call at 5:00 p.m. EST today to discuss results for the quarter. To participate in the call, please call (800) 398-9402 for domestic calls or (612) 234-9960 for international calls and reference the conference code 456802. A replay of the call will be available for a two-week period beginning today at 7:00 p.m. EST by calling (800) 475-6701 for domestic calls or (320) 365-3844 for international calls and entering the conference code 456802.

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 453 retail stores in 43 states. As of the end of the fiscal quarter, it operated 453 stores in 43 states compared with 461 stores in 44 states at the end of the third quarter of fiscal 2017.

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.

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