banjongseal324 Buckle (NYSE:BKE) is a denim-focused apparel retailer. The company is a slow grower with tremendous profitability and capital return metrics for its category, with long-standing shareholder-aligned management. Buckle suffered challenges from 2015 until the pandemic: e-commerce competition, mall stores' secular decline, transitioning to a lower price range, and the fashion cycle. It survived, although losing sales and generated industry-record returns even during this period. Now, the company ...

P.O. Box 1480 Kearney, NE 68848-1480 For Immediate Release: March 15, 2024 web: www.buckle.com KEARNEY, NE -- (BUSINESS WIRE) -- The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended February 3, 2024 was $79.6 million, or $1.60 per share ($1.59 per share on a diluted basis). Net income for the fiscal year ended February 3, 2024 was $219.9 million, or $4.44 per share ($4.40 per share on a diluted basis). Net income for the fiscal year ended February 3, 2024 was $219.9 mill ...

Financial Data and Key Metrics Changes - Net income for Q4 2023 was $79.6 million, or $1.59 per share, down from $87.8 million, or $1.76 per share in Q4 2022 [27] - For the full fiscal year, net income decreased to $219.9 million, or $4.40 per share, compared to $254.6 million, or $5.13 per share in the prior year [27][30] - Gross margin for Q4 was 52.3%, down 70 basis points from 53% in Q4 2022, while the full year gross margin was 49.1%, down 120 basis points from 50.3% [5][28] - Selling general administrative expenses for Q4 were 27.1% of net sales, up from 25.6% in Q4 2022 [29] Business Line Data and Key Metrics Changes - Online sales for the fiscal year decreased by 10.3% to $206.5 million, with a 16.6% decline compared to the same 14-week period a year ago [4][28] - Men's merchandise sales for Q4 were down about 2%, while women's merchandise sales decreased by 8% [33][51] - Accessory sales were down approximately 7.5%, and footwear sales were down about 41% for the quarter [9] Market Data and Key Metrics Changes - Comparable store sales for the fiscal year decreased by 8% compared to the prior year [28] - The company ended the year with 444 retail stores, compared to 441 stores at the end of fiscal 2022 [50] Company Strategy and Development Direction - The company plans to open eight new stores and complete 15 to 19 full remodels in 2024, with half of the remodels being relocations to new outdoor centers [50] - The strategy includes relocating stores to better shopping environments, with 42 of the 56 full remodels in the last three years being relocations [7] Management's Comments on Operating Environment and Future Outlook - Management noted challenges in February with less excitement for new spring products and a decline in traffic patterns [38] - The company has seen consistent performance in private label products, which represented approximately 50% of Q4 sales, an all-time high [53] - Management expressed optimism about the ongoing strategy of relocating stores to outdoor centers, which has shown positive results [64] Other Important Information - Capital expenditures for Q4 were $9.3 million, with full-year capital expenditures totaling $37.3 million [49] - The company does not provide future sales or earnings guidance, citing material risks and uncertainties [45] Q&A Session Summary Question: What is driving the increase in new store locations? - Management indicated that the relationship with outlet partners has provided more options and opportunities for new store locations [13] Question: What were the main drivers behind the February comp sales decline? - Management noted less excitement for new spring products and a decline in traffic patterns as contributing factors [38] Question: Can you elaborate on the challenges in the footwear category? - Management acknowledged ongoing challenges in footwear sales, particularly related to the Hey Dude brand, which significantly impacted overall performance [21][40] Question: What is the current mall versus off-mall exposure? - Management stated that approximately 70% of their locations are still mall-based, with ongoing efforts to evaluate and improve store locations [15][40]

KEARNEY, Neb.--(BUSINESS WIRE)--The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended February 3, 2024 was $79.6 million, or $1.60 per share ($1.59 per share on a diluted basis). Net income for the fiscal year ended February 3, 2024 was $219.9 million, or $4.44 per share ($4.40 per share on a diluted basis). Net sales for the 14-week fiscal quarter ended February 3, 2024 decreased 4.8 percent to $382.4 million from net sales of $401.8 million for the prior year 13-week f ...

KEARNEY, Neb.--(BUSINESS WIRE)--The Buckle, Inc. (NYSE: BKE) announced today that comparable store net sales, for stores open at least one year, for the 4-week period ended March 2, 2024 decreased 11.5 percent from comparable store net sales for the 4-week period ended March 4, 2023. Net sales for the 4-week fiscal month ended March 2, 2024 decreased 5.2 percent to $78.2 million from net sales of $82.5 million for the prior year 4-week fiscal month ended February 25, 2023. Due to the 53rd week in fiscal 20 ...

KEARNEY, Neb.--(BUSINESS WIRE)--The Buckle, Inc. (NYSE: BKE) announced today that comparable store net sales, for stores open at least one year, for the 5-week period ended February 3, 2024 decreased 17.4 percent from comparable store net sales for the 5-week period ended February 4, 2023. Net sales for the 5-week fiscal month ended February 3, 2024 increased 4.5 percent to $72.6 million from net sales of $69.4 million for the prior year 4-week fiscal month ended January 28, 2023. January 2024 was a 5-week ...

I last wrote about dividend stocks yielding 5% and included it in the headline in August 2019. Interest rates were considerably lower then, so 5% was considered a high-yield dividend stock. Fast forward to January 2024. While it’s still a high yield, income investors have more options. For example, a one-year Treasury bill yields about 4.76%, fully guaranteed by the U.S. Treasury. Looking at the names from my 2019 article, I’m not sure I’d consider any of them. I’ll throw my net a little wider, opting to fi ...

KEARNEY, Neb.--(BUSINESS WIRE)--The Buckle, Inc. (NYSE: BKE) announced today that comparable store net sales, for stores open at least one year, for the 5-week period ended December 30, 2023 decreased 5.8 percent from comparable store net sales for the 5-week period ended December 31, 2022. Net sales for the 5-week fiscal month ended December 30, 2023 decreased 5.0 percent to $203.8 million from net sales of $214.5 million for the prior year 5-week fiscal month ended December 31, 2022. Comparable store net ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-12951 Nebraska 47-0366193 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Registrant's telephone number, including area code: (308) 236-8491 Securities registered pursuant to Sect ...

The Buckle, Inc. (NYSE:BKE) Q3 2023 Earnings Call Transcript November 15, 2023 10:00 AM ET Company Participants Tom Heacock - SVP, Finance, Treasurer & CFO Adam Akerson - VP, Finance & Corporate Controller Dennis Nelson - President & CEO Conference Call Participants Mauricio Serna - UBS Operator Good morning, and thank you for standing by. Welcome to Buckle's third quarter earnings release webcast. As a reminder, all participants are currently in a listen-only mode. A question-and-answer session will be con ...