UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended November 2, 2019 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from ____________ to ____________ Commission File Number: 001-12951 THE BUCKLE, INC. (Exact name of Registrant as specified in its charter) Nebraska 47-0366193 (State or other ...

The Buckle, Inc. (NYSE:BKE) Q3 2019 Earnings Conference Call November 22, 2019 10:00 AM ET Company Participants Dennis Nelson - President, Chief Executive Officer Tom Heacock - Senior Vice President of Finance, Treasurer and Chief Financial Officer Kelli Molczyk - Vice President of Women's Merchandising Bob Carlberg - Senior Vice President of Men's Merchandising Conference Call Participants Tiffany Kanaga - Deutsche Bank Steve Marotta - CL King & Associates David Berman - Berman Capital Management Richard D ...

Part I. Financial Information [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Financial statements show significant balance sheet changes from ASC 842 adoption, with Q2 net income rising and operating cash flow improving [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$872.4 million** due to new operating lease right-of-use assets, significantly raising liabilities Condensed Consolidated Balance Sheets (in thousands) | | August 3, 2019 | February 2, 2019 | | :--- | :--- | :--- | | **Total Current Assets** | $391,425 | $370,432 | | **Operating Lease Right-of-Use Assets** | $335,448 | $— | | **Total Assets** | **$872,433** | **$527,302** | | **Total Current Liabilities** | $166,608 | $90,218 | | **Non-Current Operating Lease Liabilities** | $287,648 | $— | | **Total Liabilities** | **$469,240** | **$133,425** | | **Total Stockholders' Equity** | $403,193 | $393,877 | - The **significant increase** in total assets and liabilities is a direct result of adopting the new lease accounting standard, **ASC Topic 842**, which required the company to record **right-of-use assets** and **lease liabilities** on the balance sheet for the first time[32](index=32&type=chunk) [Condensed Consolidated Statements of Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Q2 net sales slightly increased to **$203.8 million** with net income rising, while twenty-six-week net income declined Income Statement Highlights - Thirteen Weeks Ended (in thousands) | Metric | August 3, 2019 | August 4, 2018 | | :--- | :--- | :--- | | **Net Sales** | $203,817 | $201,080 | | **Gross Profit** | $78,697 | $78,931 | | **Income from Operations** | $19,602 | $20,161 | | **Net Income** | **$16,374** | **$15,659** | | **Diluted EPS** | **$0.34** | **$0.32** | Income Statement Highlights - Twenty-Six Weeks Ended (in thousands) | Metric | August 3, 2019 | August 4, 2018 | | :--- | :--- | :--- | | **Net Sales** | $405,130 | $405,977 | | **Income from Operations** | $38,336 | $43,421 | | **Net Income** | **$31,466** | **$33,997** | | **Diluted EPS** | **$0.65** | **$0.70** | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities increased to **$35.5 million**, with cash and cash equivalents rising to **$178.0 million** Cash Flow Summary - Twenty-Six Weeks Ended (in thousands) | Cash Flow Activity | August 3, 2019 | August 4, 2018 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $35,543 | $30,872 | | **Net Cash from Investing Activities** | ($1,290) | ($2,497) | | **Net Cash from Financing Activities** | ($24,683) | ($24,512) | | **Net Increase in Cash** | $9,570 | $3,863 | | **Cash and Cash Equivalents, End of Period** | $178,041 | $168,949 | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes highlight ASC 842 adoption, revenue disaggregation, **11.7%** online sales growth, and a non-material data security incident - The company adopted **ASC Topic 842** (Leases) on February 3, 2019, recognizing net **right-of-use assets** of approximately **$362.6 million** and **operating lease liabilities** of **$389.8 million**[32](index=32&type=chunk)[108](index=108&type=chunk) - For the first half of 2019, online revenues accounted for **11.7%** of net sales, an increase from **10.9%** in the same period of 2018[35](index=35&type=chunk) Net Sales by Merchandise Group (Twenty-Six Weeks Ended) | Merchandise Group | % of Net Sales (2019) | % of Net Sales (2018) | | :--- | :--- | :--- | | Denims | 37.7% | 37.6% | | Tops (including sweaters) | 31.8% | 32.4% | | Sportswear/Fashions | 10.8% | 11.4% | | Accessories | 9.1% | 9.0% | | Footwear | 7.5% | 6.6% | - The company was the victim of a **data security incident** between October 2016 and April 2017 but does not expect any potential assessments or fines to have a **material effect** on its financial position[64](index=64&type=chunk)[65](index=65&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reported a **1.4%** increase in Q2 net sales, despite declining margins, while maintaining strong liquidity [Results of Operations](index=21&type=section&id=Results%20of%20Operations) Q2 2019 net sales rose **1.4%** with comparable store sales up **1.8%**, leading to a gross profit margin decline - Comparable store net sales for Q2 2019 increased **1.8%** compared to Q2 2018[76](index=76&type=chunk) - The comparable sales increase was driven by a **3.1%** increase in the number of transactions and a **2.8%** increase in units per transaction, which was partially offset by a **4.1%** decrease in the average unit retail price[76](index=76&type=chunk) - Gross profit margin for Q2 2019 declined to **38.6%** from **39.2%** in Q2 2018, mainly due to a **0.70%** reduction in merchandise margins[81](index=81&type=chunk) - Online sales for Q2 2019 increased **9.2%** to **$23.1 million**[76](index=76&type=chunk) [Liquidity and Capital Resources](index=23&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong, debt-free liquidity with **$224.8 million** working capital and an unused **$25.0 million** line of credit - As of August 3, 2019, the company had working capital of **$224.8 million**, including **$178.0 million** in cash and cash equivalents and **$52.1 million** in short-term investments[93](index=93&type=chunk) - Management estimates total capital expenditures for fiscal 2019 will be approximately **$8.0 million** to **$12.0 million**[96](index=96&type=chunk) - The company has an available **$25.0 million** unsecured line of credit, with no borrowings outstanding as of August 3, 2019[98](index=98&type=chunk) [Critical Accounting Policies and Estimates](index=24&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) Key accounting policies include revenue recognition, inventory valuation, income taxes, and the new lease accounting standard - **Revenue recognition** involves **estimates** for merchandise returns, gift card breakage, and accruals for the Guest Loyalty and B-Rewards programs[101](index=101&type=chunk)[102](index=102&type=chunk)[103](index=103&type=chunk) - **Inventory** is valued at the **lower of cost or net realizable value**, with an adjustment for markdowns and obsolescence totaling **$11.3 million** as of August 3, 2019[106](index=106&type=chunk) [Off-Balance Sheet Arrangements, Contractual Obligations, and Commercial Commitments](index=26&type=section&id=Off-Balance%20Sheet%20Arrangements%2C%20Contractual%20Obligations%2C%20and%20Commercial%20Commitments) The company reported no off-balance sheet arrangements, with total contractual obligations of **$29.9 million** Contractual Obligations (in thousands) | Obligation Type | Total | Less than 1 year | 1-3 years | 4-5 years | After 5 years | | :--- | :--- | :--- | :--- | :--- | :--- | | Purchase obligations | $14,918 | $5,078 | $6,549 | $2,550 | $741 | | Deferred compensation | $14,984 | $— | $— | $— | $14,984 | | **Total** | **$29,902** | **$5,078** | **$6,549** | **$2,550** | **$15,725** | - The company has **no off-balance sheet arrangements**[112](index=112&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=27&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate fluctuations, potentially decreasing annual net income by **$0.5 million** - The company is exposed to **interest rate risk** on its cash and investments. A one-quarter percent (**0.25%**) decline in the interest rate earned would decrease net income by approximately **$0.5 million**[116](index=116&type=chunk) [Controls and Procedures](index=27&type=section&id=Item%204.%20Controls%20and%20Procedures) Management deemed disclosure controls and procedures effective, with no material changes to internal control over financial reporting - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were **effective** as of the end of the reporting period[118](index=118&type=chunk) - **No changes** occurred in the company's internal control over financial reporting during the last fiscal quarter that have **materially affected**, or are reasonably likely to materially affect, these controls[119](index=119&type=chunk) Part II. Other Information [Legal Proceedings](index=28&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings during the period - Item 1. Legal Proceedings: **None**[122](index=122&type=chunk) [Risk Factors](index=28&type=section&id=Item%201A.%20Risk%20Factors) No material changes occurred from the risk factors previously disclosed in the company's Annual Report on Form 10-K - **No material changes** from the risk factors disclosed in the Company's Annual Report on Form 10-K for the fiscal year ended February 2, 2019[122](index=122&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=28&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased **4,552** shares at **$14.92** per share, with **435,655** shares remaining authorized for repurchase Common Stock Purchases - Quarter Ended August 3, 2019 | Period | Total Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | May 5, 2019 to June 1, 2019 | 4,552 | $14.92 | | **Total** | **4,552** | **$14.92** | - As of the end of the quarter, **435,655 shares** may yet be purchased under the publicly announced repurchase plan[123](index=123&type=chunk) [Other Disclosures and Exhibits](index=28&type=section&id=Item%203-6) The company reported no defaults, no mine safety disclosures, and no other material information, with Item 6 listing filed exhibits - The company reported "**None**" for Item 3 (Defaults Upon Senior Securities), Item 4 (Mine Safety Disclosures), and Item 5 (Other Information)[124](index=124&type=chunk) - Item 6 lists **exhibits** filed with the report, including a Revolving Line of Credit Note, CEO/CFO certifications (Sections 302 and 906), and XBRL data files[124](index=124&type=chunk)

The Buckle, Inc. (NYSE:BKE) Q2 2019 Results Earnings Conference Call August 23, 2019 10:00 AM ET Company Participants Tom Heacock - Senior Vice President of Finance, Treasurer and Chief Financial Officer Kelli Molczyk - Vice President of Women's Merchandising Bob Carlberg - Senior Vice President of Men's Merchandising Dennis Nelson - President, Chief Executive Officer Conference Call Participants Tiffany Kanaga - Deutsche Bank John Deysher - Pinnacle Operator Ladies and gentlemen, thank you for standing by ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended May 4, 2019 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from ____________ to ____________ Commission File Number: 001-12951 THE BUCKLE, INC. (Exact name of Registrant as specified in its charter) Nebraska 47-0366193 (State or other juri ...

The Buckle, Inc. (NYSE:BKE) Q1 2019 Earnings Conference Call May 24, 2019 10:00 AM ET Company Participants Tom Heacock – Senior Vice President of Finance, Treasurer and Chief Financial Officer Kelli Molczyk – Vice President-Women's Merchandising Bob Carlberg – Senior Vice President of Men's Merchandising Dennis Nelson – President and Chief Executive Officer Conference Call Participants Tiffany Kanaga – Deutsche Bank Steve Marotta – C.L. King & Associates John Deysher – Pinnacle Operator Ladies and gentlemen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended February 2, 2019 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from ____________ to ____________ Commission File Number: 001-12951 THE BUCKLE, INC. (Exact name of Registrant as specified in its charter) Nebraska 47-0366193 (State or other jurisdi ...

The Buckle, Inc. (NYSE:BKE) Q4 2018 Results Conference Call March 15, 2019 10:00 AM ET Company Participants Dennis Nelson - President and CEO Tom Heacock - SVP, Finance, Treasurer and CFO Kelli Molczyk - VP, WomenÂ's Merchandising Bob Carlberg - SVP, MenÂ's Merchandising Conference Call Participants Tiffany Kanaga - Deutsche Bank Steve Marotta - C.L. King John Deysher - Pinnacle Operator Ladies and gentlemen, thank you for standing by. And welcome to The Buckle, Inc. Fourth Quarter Earnings Release. At this ...