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The Buckle, Inc. Reports November 2008 Net Sales

  • Press Release
  • Source: The Buckle, Inc.
  • On 7:00 am EST, Thursday December 4, 2008

KEARNEY, NE--(MARKET WIRE)--Dec 4, 2008 -- The Buckle, Inc. (NYSE:BKE - News) announced today that comparable store net sales, for stores open at least one year, for the four-week period ended November 29, 2008, increased 15.0 percent from comparable store net sales for the four-week period ended December 1, 2007. Net sales for the four-week fiscal month ended November 29, 2008 increased 21.6 percent to $72.2 million from net sales of $59.4 million for the prior year four-week fiscal month ended December 1, 2007.

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SymbolPriceChange
BKE29.50-0.23
Chart for BUCKLE INC
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Comparable store net sales year-to-date for the 43-week period ended November 29, 2008 increased 22.6 percent from comparable store net sales for the 43-week period ended December 1, 2007. Net sales for the 43-week fiscal period ended November 29, 2008 increased 29.7 percent to $612.8 million from net sales of $472.3 million for the prior year 43-week fiscal period ended December 1, 2007.

During the four-week fiscal month ended November 29, 2008, the Company repurchased 391,400 shares of its common stock at an average price of $16.23 per share. Of the shares repurchased, 356,400 were purchased pursuant to the 750,000 share corporate stock repurchase program authorized by the Board of Directors on November 27, 2007, completing this authorization. Additionally, 35,000 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 965,000 shares remaining to complete this authorization as of the end of the fiscal month.

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 388 retail stores in 39 states compared to 369 stores in 38 states as of December 4, 2007. 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

Contact:

     Contact:
Karen B. Rhoads
Chief Financial Officer
The Buckle, Inc.
308/236-8491
 

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