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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549
 
FORM 8-K
 
CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

August 23, 2024
Date of Report (date of earliest event reported)

 THE BUCKLE, INC.
(Exact name of Registrant as specified in its charter)

Nebraska001-1295147-0366193
(State or other jurisdiction of(Commission(I.R.S. Employer
incorporation or organization)File Number)Identification No.)

2407 West 24th Street,
Kearney,Nebraska68845-4915
(Address of principal executive offices)(Zip Code)

Registrant's telephone number, including area code:  (308) 236-8491
__________________________________________________________

(Former name, former address and former fiscal year if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which Registered
Common Stock, $0.01 par valueBKENew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).            
                                     Emerging growth company      o 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o


ITEM 2.02.     Results of Operations and Financial Condition

On August 23, 2024, The Buckle, Inc. announced financial results for the fiscal quarter ended August 3, 2024. The full text of the press release is furnished as Exhibit 99.1 to this report.

The information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), as amended, and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as set forth by specific reference in such filing.


ITEM 9.01(d).     Exhibits

Exhibit 99.1    Press Release Dated August 23, 2024
Exhibit 104    Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

The Buckle, Inc.
Date: August 23, 2024By: /s/  THOMAS B. HEACOCK
 Name: Thomas B. Heacock
 Title: Senior Vice President of Finance,
 Treasurer and Chief Financial Officer



EXHIBIT INDEX
         
Press Release Dated August 23, 2024
Exhibit 104Cover Page Interactive Data File (embedded within the Inline XBRL 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: August 23, 2024
web: www.buckle.com


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

THE BUCKLE, INC. REPORTS SECOND QUARTER NET INCOME

KEARNEY, NE -- (BUSINESS WIRE) -- The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended August 3, 2024 was $39.3 million, or $0.79 per share ($0.78 per share on a diluted basis).

Net sales for the 13-week fiscal quarter ended August 3, 2024 decreased 3.4 percent to $282.4 million from net sales of $292.4 million for the prior year 13-week fiscal quarter ended July 29, 2023. Comparable store net sales for the 13-week fiscal quarter ended August 3, 2024 decreased 6.6 percent from comparable store net sales for the prior year 13-week period ended August 5, 2023. Online sales decreased 15.2 percent to $37.0 million for the 13-week fiscal quarter ended August 3, 2024, compared to net sales of $43.6 million for the 13-week fiscal quarter ended July 29, 2023.

Net sales for the 26-week fiscal period ended August 3, 2024 decreased 5.3 percent to $544.9 million from net sales of $575.3 million for the prior year 26-week fiscal period ended July 29, 2023. Comparable store net sales for the 26-week period ended August 3, 2024 decreased 7.7 percent from comparable store net sales for the prior year 26-week period ended August 5, 2023. Online sales decreased 14.2 percent to $81.4 million for the 26-week period ended August 3, 2024, compared to net sales of $94.9 million for the 26-week period ended July 29, 2023.

Due to the 53rd week in fiscal 2023, comparable store net sales for the quarter and year-to-date periods are compared to the 13-week and 26-week periods ended August 5, 2023.

Net income for the second quarter of fiscal 2024 was $39.3 million, or $0.79 per share ($0.78 per share on a diluted basis), compared with net income of $45.6 million, or $0.92 per share ($0.92 per share on a diluted basis) for the second quarter of fiscal 2023.

Net income for the 26-week fiscal period ended August 3, 2024 was $74.1 million, or $1.49 per share ($1.48 per share on a diluted basis), compared with net income of $88.6 million, or $1.79 per share ($1.78 per share on a diluted basis) for the 26-week period ended July 29, 2023.

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_wgdrgn2oR764cUMOxJG06g. 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 440 retail stores in 42 states. As of the end of the fiscal quarter, it operated 440 stores in 42 states compared with 440 stores in 42 states at the end of the second quarter of fiscal 2023.


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 EndedTwenty-Six Weeks Ended
 August 3,
2024		July 29,
2023		August 3,
2024		July 29,
2023
SALES, Net of returns and allowances$282,392 $292,428 $544,872 $575,262 
COST OF SALES (Including buying, distribution, and occupancy costs)
149,858 154,016 291,641 303,593 
Gross profit132,534 138,412 253,231 271,669 
OPERATING EXPENSES: 
Selling70,742 68,737 134,468 134,839 
General and administrative13,532 12,914 28,107 26,339 
 84,274 81,651 162,575 161,178 
INCOME FROM OPERATIONS48,260 56,761 90,656 110,491 
OTHER INCOME, Net3,733 3,693 7,487 6,832 
INCOME BEFORE INCOME TAXES51,993 60,454 98,143 117,323 
INCOME TAX EXPENSE12,738 14,814 24,045 28,747 
NET INCOME$39,255 $45,640 $74,098 $88,576 
EARNINGS PER SHARE:  
Basic$0.79 $0.92 $1.49 $1.79 
Diluted$0.78 $0.92 $1.48 $1.78 
Basic weighted average shares49,854 49,513 49,854 49,513 
Diluted weighted average shares50,221 49,875 50,197 49,868 





THE BUCKLE, INC.

CONSOLIDATED BALANCE SHEETS
(Amounts in Thousands Except Share and Per Share Amounts)
(Unaudited)
ASSETSAugust 3,
2024		February 3,
2024 (1)		July 29,
2023
CURRENT ASSETS:   
Cash and cash equivalents$287,266 $268,213 $275,583 
Short-term investments21,856 22,210 23,714 
Receivables7,698 8,697 9,675 
Inventory131,418 126,290 136,074 
Prepaid expenses and other assets20,962 18,846 10,181 
Total current assets469,200 444,256 455,227 
PROPERTY AND EQUIPMENT500,236 489,037 475,997 
Less accumulated depreciation and amortization(360,903)(360,200)(356,737)
139,333 128,837 119,260 
OPERATING LEASE RIGHT-OF-USE ASSETS292,194 280,813 251,978 
LONG-TERM INVESTMENTS26,984 24,993 23,616 
OTHER ASSETS12,560 10,911 11,466 
Total assets$940,271 $889,810 $861,547 
 
LIABILITIES AND STOCKHOLDERS’ EQUITY  
CURRENT LIABILITIES:   
Accounts payable$62,820 $45,958 $54,261 
Accrued employee compensation24,478 49,827 22,357 
Accrued store operating expenses26,124 19,067 26,533 
Gift certificates redeemable13,214 16,667 12,960 
Current portion of operating lease liabilities79,583 85,265 80,664 
Income taxes payable— 4,672 — 
Total current liabilities206,219 221,456 196,775 
DEFERRED COMPENSATION26,984 24,993 23,616 
NON-CURRENT OPERATING LEASE LIABILITIES248,424 230,141 204,620 
Total liabilities481,627 476,590 425,011 
COMMITMENTS 
STOCKHOLDERS’ EQUITY:   
Common stock, authorized 100,000,000 shares of $.01 par value; issued and outstanding; 50,773,796 shares at August 3, 2024, 50,445,186 shares at February 3, 2024, and 50,445,926 shares at July 29, 2023508 504 504 
Additional paid-in capital199,551 192,686 185,921 
Retained earnings258,585 220,030 250,111 
Total stockholders’ equity458,644 413,220 436,536 
Total liabilities and stockholders’ equity$940,271 $889,810 $861,547 
(1) Derived from audited financial statements.



v3.24.2.u1
Document and Entity Information
Aug. 23, 2024
Document And Entity Information [Abstract]  
Document Type 8-K
Document Period End Date Aug. 23, 2024
Entity Registrant Name BUCKLE, INC
Entity Incorporation, State or Country Code NE
Entity File Number 001-12951
Entity Tax Identification Number 47-0366193
Entity Address, Address Line One 2407 West 24th Street
Entity Address, City or Town Kearney
Entity Address, State or Province NE
Entity Address, Postal Zip Code 68845-4915
City Area Code 308
Local Phone Number 236-8491
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.01 par value
Trading Symbol BKE
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0000885245
Amendment Flag false
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