At The Buckle, which recently reported its fortieth consecutive month of positive comps, management said the retailer would continue to focus on boosting its online business, which has accounted for approximately 5.5% of year-to-sales in fiscal 2009 and is a valuable avenue for clearing marked-down inventory.
Management for The Buckle also noted new store locations as an intitiative for growth although the retailer expects to close four stores in January to close the fiscal year out at 401 stores. During 2010, The Buckle anticipates opening 20 new stores -including 11 for spring, eight for back-to-school and one for Holiday 2010 – and completing 24 full remodels.
Regarding finances, management for The Buckle expects fiscal 2009 CAPEX to be in the range of $46 $50 million, which includes anticipated investments made during the remainder of the year as work progresses on the company’s new distribution center currently being built in Kearney, NE. 2010 CAPEX is estimated to be in the range of $65 million to $70 million.
The Buckle also plans to spend approximately $3.5 million in 2010 to replace its point-of-sale software and hardware, which management said it will use to replace its current loyalty program and will allow it to take pin-based debit as a form of tender.