Buckle, Inc. (NYSE: BKE) is a specialty retailer based in Kearney, Nebraska, focused on providing high-quality, on-trend apparel, accessories, and footwear. As of February 1, 2025, Buckle operates 441 retail stores across 42 states.

Buckle has experienced a stable condition with slight declines in key financial metrics for its most recent fiscal quarter. In the fourth quarter of fiscal 2024, net income was reported at $77.2 million, or $1.53 per diluted share, compared to $79.6 million, or $1.59 per diluted share, in the fourth quarter of fiscal 2023. For the full fiscal year, net income amounted to $195.5 million, or $3.89 per diluted share, compared to $219.9 million, or $4.40 per diluted share, for fiscal 2023.

Net sales for the fourth quarter decreased by 0.8%, totaling $379.2 million, down from $382.4 million in the previous year. Comparable store sales increased by 3.9% during the fourth quarter compared to the same quarter a year ago. Online sales rose by 6.4%, reaching $69.7 million for the quarter, compared to $65.5 million for the same quarter last year.

For the full fiscal year, total net sales were $1.218 billion, down 3.4% from $1.261 billion in fiscal 2023. Comparable store sales decreased by 2.7% for the full year. Online sales for the year decreased by 4.3% to $197.7 million, down from $206.5 million the previous year.

Gross margin for the fourth quarter was 52.6%, an increase of 30 basis points from the prior year’s fourth quarter. This increase was attributed to a 40 basis point increase in merchandise margins, with a 20 basis point reduction in distribution and buying costs. In contrast, the full year gross margin was 48.7%, down 40 basis points from 49.1% in the prior year, impacted by increased occupancy costs.

Selling, general, and administrative (SG&A) expenses for the fourth quarter accounted for 27.2% of sales, slightly up from 27.1% the previous year. For the full year, SG&A as a percentage of net sales came in at 28.9%, compared to 27.6% for the previous year. Operating margin for the fourth quarter improved to 25.4% from 25.2% in the year-ago period, while the full year operating margin was 19.8%, down from 21.5% in fiscal 2023.

As of February 1, 2025, Buckle reported inventory of $120.8 million, reflecting a 4% decrease from the previous year. Total cash and investments stood at $318.8 million following the payment of $198 million in dividends during the fiscal year. Capital expenditures for the fourth quarter were $9.8 million, totaling $42.3 million for the year, with investments primarily in new store construction and technology upgrades.

In fiscal year 2024, Buckle opened one new store, completed five remodels, and closed five stores, leaving a total of 441 retail locations in operation. Plans for fiscal 2025 include opening seven new stores and completing 18 to 22 remodel projects.