EX-99.1 2 bke20250523-8kexhibit.htm EX-99.1 Document

Exhibit 99.1
buckle_logox2.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: May 23, 2025
web: www.buckle.com


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

THE BUCKLE, INC. REPORTS FIRST QUARTER NET INCOME

KEARNEY, NE -- (BUSINESS WIRE) -- The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended May 3, 2025 was $35.2 million, or $0.70 per share ($0.70 per share on a diluted basis).

Net sales for the 13-week fiscal quarter ended May 3, 2025 increased 3.7 percent to $272.1 million from net sales of $262.5 million for the prior year 13-week fiscal quarter ended May 4, 2024. Comparable store net sales for the 13-week fiscal quarter ended May 3, 2025 increased 3.0 percent from comparable store net sales for the prior year 13-week period ended May 4, 2024. Online sales increased 4.5 percent to $46.4 million for the 13-week fiscal quarter ended May 3, 2025, compared to net sales of $44.4 million for the 13-week fiscal quarter ended May 4, 2024.

Net income for the first quarter of fiscal 2025 was $35.2 million, or $0.70 per share ($0.70 per share on a diluted basis), compared with net income of $34.8 million, or $0.70 per share ($0.69 per share on a diluted basis) for the first quarter of fiscal 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_NwUpGyp-QgaJcZJrYn9cYw. 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 439 retail stores in 42 states. As of the end of the fiscal quarter, it operated 439 stores in 42 states compared with 440 stores in 42 states at the end of the first quarter of fiscal 2024.


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)
 Thirteen Weeks Ended
 May 3,
2025		May 4,
2024
SALES, Net of returns and allowances$272,121 $262,480 
COST OF SALES (Including buying, distribution, and occupancy costs)
145,145 141,783 
Gross profit126,976 120,697 
OPERATING EXPENSES:
Selling67,199 63,726 
General and administrative16,231 14,575 
 83,430 78,301 
INCOME FROM OPERATIONS43,546 42,396 
OTHER INCOME, Net3,067 3,754 
INCOME BEFORE INCOME TAXES46,613 46,150 
INCOME TAX EXPENSE11,420 11,307 
NET INCOME$35,193 $34,843 
EARNINGS PER SHARE:  
Basic$0.70 $0.70 
Diluted$0.70 $0.69 
Basic weighted average shares50,199 49,854 
Diluted weighted average shares50,541 50,172 





THE BUCKLE, INC.

CONSOLIDATED BALANCE SHEETS
(Amounts in Thousands Except Share and Per Share Amounts)
(Unaudited)
ASSETSMay 3,
2025		February 1,
2025 (1)		May 4,
2024
CURRENT ASSETS:   
Cash and cash equivalents$268,884 $266,929 $267,427 
Short-term investments22,883 23,801 23,052 
Receivables7,927 6,758 6,139 
Inventory132,395 120,789 130,661 
Prepaid expenses and other assets23,554 20,932 19,550 
Total current assets455,643 439,209 446,829 
PROPERTY AND EQUIPMENT518,076 510,088 493,025 
Less accumulated depreciation and amortization(365,986)(364,336)(360,950)
152,090 145,752 132,075 
OPERATING LEASE RIGHT-OF-USE ASSETS330,014 289,793 288,646 
LONG-TERM INVESTMENTS28,275 28,116 26,763 
OTHER ASSETS11,307 10,303 11,757 
Total assets$977,329 $913,173 $906,070 
 
LIABILITIES AND STOCKHOLDERS’ EQUITY  
CURRENT LIABILITIES:   
Accounts payable$63,015 $45,982 $54,811 
Accrued employee compensation15,228 46,717 13,767 
Accrued store operating expenses23,494 19,266 23,477 
Gift certificates redeemable14,753 17,007 14,370 
Current portion of operating lease liabilities83,634 78,942 83,645 
Income taxes payable17,605 6,018 15,210 
Total current liabilities217,729 213,932 205,280 
DEFERRED COMPENSATION28,275 28,116 26,763 
NON-CURRENT OPERATING LEASE LIABILITIES286,052 247,321 240,212 
Total liabilities532,056 489,369 472,255 
COMMITMENTS 
STOCKHOLDERS’ EQUITY:   
Common stock, authorized 100,000,000 shares of $.01 par value; issued and outstanding; 51,157,306 shares at May 3, 2025, 50,773,556 shares at February 1, 2025, and 50,778,536 shares at May 4, 2024512 508 508 
Additional paid-in capital209,995 205,817 196,208 
Retained earnings234,766 217,479 237,099 
Total stockholders’ equity445,273 423,804 433,815 
Total liabilities and stockholders’ equity$977,329 $913,173 $906,070 
(1) Derived from audited financial statements.