Buckle : Press Release Narrative for 10/5/2023

For Immediate Release: October 5, 2023

Contact: Thomas B. Heacock, Chief Financial Officer

The Buckle, Inc.

[phone]

The Buckle, Inc. Press Release Narrative for 10/5/2023

Our October 5, 2023 press release reported that comparable store sales, for stores open at least one full year, for the five-week period ended September 30, 2023, decreased 11.1 percent in comparison to the prior year five-week period ended October 1, 2022. Total net sales for the five-week fiscal month decreased 10.7 percent to $103.1 million compared to net sales of $115.5 million in the prior year five-week fiscal month ended October 1, 2022.

On the men's side of the business, total sales for the five-week fiscal period ended September 30, 2023 decreased 9.0 percent in comparison to the prior year five-week period ended October 1, 2022. The men's business represented approximately 53.5 percent of total sales for the month versus approximately 52.5 percent in the prior year fiscal September. For the fiscal month, overall price points on the men's side of the business were up approximately 2.0 percent.

On the women's side of the business, total sales for the five-week fiscal period ended September 30, 2023 decreased 12.5 percent in comparison to the prior year five-week period ended October 1, 2022. The women's business represented approximately 46.5 percent of total sales for the month versus approximately 47.5 percent in the prior year fiscal September. For the fiscal month, overall price points on the women's side of the business were up approximately 1.0 percent.

Within the men's and women's categories combined, accessory sales for the fiscal month were down approximately 7.0 percent in comparison to the prior year fiscal September, and footwear sales were down about 26.0 percent. These two categories accounted for approximately 10.5 percent and 6.0 percent, respectively, of the current fiscal September net sales. This compares with approximately 10.0 percent and 7.5 percent, respectively, for each in the prior year fiscal September. Average accessory price points for the month were up approximately 1.0 percent, and average footwear price points were up about 7.5 percent for the fiscal month.

For the month, both UPT's and the average transaction value were down about 0.5 percent compared to the prior year fiscal September.

Buckle currently operates 443 retail stores in 42 states compared to 441 stores in 42 states as of October 5, 2022.

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.