The Buckle, Inc.

BKE Consumer Cyclical Q4 2025

Document 1

EX-99.1 2 bke8-k20250314exhibit.htm EX-99.1 Document

Exhibit 99.1
logo1708a04a.jpg
The Buckle, Inc.
2407 W. 24th St. Kearney, NE 68845
P.O. Box 1480 Kearney, NE 68848-1480
phone: 308-236-8491
fax: 308-236-4493
For Immediate Release: March 14, 2025
web: www.buckle.com

Contact:Thomas B. Heacock, Chief Financial Officer
 The Buckle, Inc.
 (308) 236-8491

THE BUCKLE, INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2024 NET INCOME

KEARNEY, NE -- (BUSINESS WIRE) -- The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended February 1, 2025 was $77.2 million, or $1.54 per share ($1.53 per share on a diluted basis). Net income for the fiscal year ended February 1, 2025 was $195.5 million, or $3.92 per share ($3.89 per share on a diluted basis).

Net sales for the 13-week fiscal quarter ended February 1, 2025 decreased 0.8 percent to $379.2 million from net sales of $382.4 million for the prior year 14-week fiscal quarter ended February 3, 2024. Comparable store net sales for the 13-week period ended February 1, 2025 increased 3.9 percent from comparable store net sales for the prior year 13-week period ended February 3, 2024. Online sales increased 6.4 percent to $69.7 million for the 13-week period ended February 1, 2025, compared to net sales of $65.5 million for the 14-week period ended February 3, 2024.

Net sales for the 52-week fiscal year ended February 1, 2025 decreased 3.4 percent to $1.218 billion from net sales of $1.261 billion for the 53-week fiscal year ended February 3, 2024. Comparable store net sales for the 52-week period ended February 1, 2025 decreased 2.7 percent from comparable store net sales for the prior year 52-week period ended February 3, 2024. Online sales decreased 4.3 percent to $197.7 million for the 52-week period ended February 1, 2025, compared to net sales of $206.5 million for the 53-week period ended February 3, 2024.

Net income for the fourth quarter of fiscal 2024 was $77.2 million, or $1.54 per share ($1.53 per share on a diluted basis), compared with $79.6 million, or $1.60 per share ($1.59 per share on a diluted basis) for the fourth quarter of fiscal 2023.

Net income for the fiscal year ended February 1, 2025 was $195.5 million, or $3.92 per share ($3.89 per share on a diluted basis), compared with $219.9 million, or $4.44 per share ($4.40 per share on a diluted basis) for the fiscal year ended February 3, 2024.

Management will hold a live audio webcast at 10:00 a.m. EDT today to discuss results for the quarter. To register for the live event, please visit https://buckle.zoom.us/webinar/register/WN_ork30A85Q8iQJ2fQiMhMEQ. A replay of the event can be accessed through Buckle’s investor relations website within twenty-four hours after the conclusion of the live event (https://corporate.buckle.com/investors/earnings-webcasts).

About Buckle

Buckle is a specialty retailer focused on delivering exceptional service and style through unforgettable experiences. Offering a curated mix of high-quality, on-trend apparel, accessories, and footwear, Buckle is for those living the styled life. 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 440 retail stores in 42 states. As of the end of the fiscal year, it operated 441 stores in 42 states compared with 444 stores in 42 states at the end of fiscal 2023.

  





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. 

Note:  News releases and other information on The Buckle, Inc. can be accessed at www.buckle.com.
Financial Tables to Follow 



THE BUCKLE, INC.

CONSOLIDATED STATEMENTS OF INCOME
(Amounts in Thousands Except Per Share Amounts)
(Unaudited)
 13-Weeks Ended14-Weeks Ended52-Weeks Ended53-Weeks Ended
 February 1, 2025February 3, 2024February 1, 2025February 3, 2024 (1)
SALES, Net of returns and allowances$379,199 $382,383 $1,217,689 $1,261,102 
COST OF SALES (Including buying, distribution, and occupancy costs)
179,714 182,202 624,902 642,037 
Gross profit199,485 200,181 592,787 619,065 
OPERATING EXPENSES:
Selling86,722 85,937 293,176 291,018 
General and administrative16,538 17,741 58,247 56,988 
 103,260 103,678 351,423 348,006 
INCOME FROM OPERATIONS96,225 96,503 241,364 271,059 
OTHER INCOME, Net4,903 6,834 16,413 18,156 
INCOME BEFORE INCOME TAXES101,128 103,337 257,777 289,215 
INCOME TAX EXPENSE23,930 23,756 62,309 69,296 
NET INCOME$77,198 $79,581 $195,468 $219,919 
EARNINGS PER SHARE
Basic$1.54 $1.60 $3.92 $4.44 
Diluted$1.53 $1.59 $3.89 $4.40 
Basic weighted average shares50,126 49,791 49,922 49,582 
Diluted weighted average shares50,551 50,148 50,310 49,955 
(1) Derived from audited financial statements




THE BUCKLE, INC.

CONSOLIDATED BALANCE SHEETS
(Amounts in Thousands Except Share and Per Share Amounts)
(Unaudited)
ASSETSFebruary 1,
2025
February 3,
2024 (1)
CURRENT ASSETS:  
Cash and cash equivalents$266,929 $268,213 
Short-term investments23,801 22,210 
Receivables6,758 8,697 
Inventory120,789 126,290 
Prepaid expenses and other assets20,932 18,846 
Total current assets439,209 444,256 
PROPERTY AND EQUIPMENT510,088 489,037 
Less accumulated depreciation and amortization(364,336)(360,200)
145,752 128,837 
 
OPERATING LEASE RIGHT-OF-USE ASSETS289,793 280,813 
LONG-TERM INVESTMENTS28,116 24,993 
OTHER ASSETS10,303 10,911 
Total assets$913,173 $889,810 
LIABILITIES AND STOCKHOLDERS’ EQUITY  
CURRENT LIABILITIES:  
Accounts payable$45,982 $45,958 
Accrued employee compensation46,717 49,827 
Accrued store operating expenses19,266 19,067 
Gift certificates redeemable17,007 16,667 
Current portion of operating lease liabilities78,942 85,265 
Income taxes payable6,018 4,672 
Total current liabilities213,932 221,456 
DEFERRED COMPENSATION28,116 24,993 
NON-CURRENT OPERATING LEASE LIABILITIES247,321 230,141 
Total liabilities489,369 476,590 
COMMITMENTS
STOCKHOLDERS’ EQUITY: 
Common stock, authorized 100,000,000 shares of $.01 par value; 50,773,556 and 50,445,186 shares issued and outstanding at February 1, 2025 and February 3, 2024, respectively508 504 
Additional paid-in capital205,817 192,686 
Retained earnings217,479 220,030 
Total stockholders’ equity423,804 413,220 
Total liabilities and stockholders’ equity$913,173 $889,810 
(1) Derived from audited financial statements