The Buckle Records Q4 and 2019 Comp Gain

PRESS RELEASES | Published Mar 23, 2020

Editor’s note: We are catching up on this earnings release from The Buckle

KEARNEY, NE — The Buckle, Inc. (NYSE: BKE) announced that net income for the fiscal quarter ended February 1, 2020 was $47.0 million, or $0.96 per share ($0.96 per share on a diluted basis). Net income for the fiscal year ended February 1, 2020 was $104.4 million, or $2.15 per share ($2.14 per share on a diluted basis).

Net sales for the 13-week fiscal quarter ended February 1, 2020 increased 2.5 percent to $271.0 million from net sales of $264.4 million for the prior year 13-week fiscal quarter ended February 2, 2019. Comparable store net sales for the 13-week period ended February 1, 2020 increased 3.3 percent from comparable store net sales for the prior year 13-week period ended February 2, 2019. Online sales increased 7.5 percent to $36.4 million for the 13-week period ended February 1, 2020, compared to net sales of $33.9 million for the 13-week period ended February 2, 2019.

Net sales for the 52-week fiscal year ended February 1, 2020 increased 1.7 percent to $900.3 million from net sales of $885.5 million for the 52-week fiscal year ended February 2, 2019. Comparable store net sales for the 52-week period ended February 1, 2020 increased 2.2 percent from comparable store net sales for the prior year 52-week period ended February 2, 2019. Online sales increased 6.9 percent to $110.8 million for the 52-week period ended February 1, 2020, compared to net sales of $103.7 million for the 52-week period ended February 2, 2019.

Net income for the fourth quarter of fiscal 2019 was $47.0 million, or $0.96 per share ($0.96 per share on a diluted basis), compared with $41.1 million, or $0.85 per share ($0.84 per share on a diluted basis) for the fourth quarter of fiscal 2018.

Net income for the fiscal year ended February 1, 2020 was $104.4 million, or $2.15 per share ($2.14 per share on a diluted basis), compared with $95.6 million, or $1.97 per share ($1.97 per share on a diluted basis) for the fiscal year ended February 2, 2019.

About Buckle

Offering a unique mix of high-quality, on-trend apparel, accessories, and footwear, Buckle caters to fashion-conscious young men and women. 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 446 retail stores in 42 states. As of the end of the fiscal year, it operated 448 stores in 42 states compared with 450 stores in 42 states at the end of fiscal 2018.