The Buckle, Inc. Press Release Narrative for 5/9/2024

Our May 9, 2024 press release reported that comparable store sales, for stores open at least one full year, for the four-week period ended May 4, 2024, decreased 6.0 percent in comparison to the prior year four-week period ended May 6, 2023. Total net sales for the four-week fiscal month decreased 8.1 percent to $79.9 million compared to net sales of $86.9 million in the prior year four-week fiscal month ended April 29, 2023.

On the men's side of the business, total sales for the four-week fiscal period ended May 4, 2024 decreased 4.5 percent in comparison to the prior year four-week period ended May 6, 2023. The men's business represented approximately 53.5 percent of total sales for the month versus approximately 53.0 percent for the same period in the prior year. For the fiscal month, overall price points on the men's side of the business were up approximately 2.5 percent.

On the women's side of the business, total sales for the four-week fiscal period ended May 4, 2024 decreased 6.5 percent in comparison to the prior year four-week period ended May 6, 2023. The women's business represented approximately 46.5 percent of total sales for the month versus approximately 47.0 percent for the same period in the prior year. For the fiscal month, overall price points on the women's side of the business increased approximately 2.0 percent.

Within the men's and women's categories combined, accessory sales for the fiscal month were down approximately 5.0 percent in comparison to the prior year four-week period ended May 6, 2023, and footwear sales were down about 31.0 percent. These two categories accounted for approximately 11.0 percent and 6.5 percent, respectively, of the current fiscal April net sales. This compares with approximately 11.0 percent and 8.5 percent, respectively, for each in the prior year. Average accessory price points for the month were up approximately 1.5 percent, and average footwear price points were up about 6.0 percent for the fiscal month.

For the month, UPT's decreased about 5.0 percent while the average transaction value increased approximately 1.5% compared to the prior year four-week period ended May 6, 2023.

Buckle currently operates 440 retail stores in 42, which is consistent with the store count as of May 9, 2023.

It is our Company policy not to provide any guidance on current sales or to project results for the next quarter. Additionally, any forward-looking statements made during this commentary 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.