The Buckle, Inc. (NYSE:BKE) Q1 2024 Earnings Conference Call May 24, 2024 10:00 AM ET
Company Participants
Tom Heacock - SVP Finance, Treasurer and CFO
Adam Akerson - VP, Finance and Corporate Controller
Dennis Nelson - President and CEO
Conference Call Participants
Mauricio Serna - UBS
Alan Glenn - Concord & Main Ltd
Operator
Good morning and thank you for standing by and welcome to Buckle's First Quarter Earnings Release Webcast. As a reminder, all participants are currently in a listen-only mode. A question-and-answer session will be conducted following the company's prepared remarks with instructions given at that time.
Members of Buckle's management on the call today are Dennis Nelson, President and CEO; Tom Heacock, Senior Vice President of Finance, Treasurer and CFO; Adam Akerson, Vice President of Finance and Corporate Controller; and Brady Fritz, Senior Vice President, General Counsel and Corporate Secretary.
As a review of operating results, they would like to reiterate their policy of not giving future sales or earnings guidance and have the following Safe Harbor statement. 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. Additionally, the company does not authorize the reproduction or dissemination of transcripts or audio recordings of the company's quarterly conference calls without its expressed written consent. Any unauthorized reproductions or recordings of the call should not be relied upon as the information may be inaccurate. As a reminder, today's webcast is being recorded.
And I'd now like to turn the conference over to your host, Tom Heacock.
Tom Heacock
Good morning and thanks for joining us this morning. Our May 24th, 2024 press release reported net income for the 13-week first quarter ended May 4, 2024, was $34.8 million or $0.69 per share on a diluted basis compared to net income of $42.9 million, or $0.86 per share on a diluted basis for the prior year 13-week first quarter, which ended April 29, 2023. Net sales for the 13-week first quarter decreased 7.2% to $262.5 million compared to net sales of $282.8 million for the prior year 13-week first quarter.