The Buckle, Inc. Reports Third Quarter Net Income
KEARNEY, Neb.--( BUSINESS WIRE)--The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended November 1, 2025 was $48.7 million, or $0.97 per share ($0.96 per share on a diluted basis).
Net sales for the 13-week fiscal quarter ended November 1, 2025 increased 9.3 percent to $320.8 million from net sales of $293.6 million for the prior year 13-week fiscal quarter ended November 2, 2024. Comparable store net sales for the 13-week fiscal quarter ended November 1, 2025 increased 8.3 percent from comparable store net sales for the prior year 13-week period ended November 2, 2024. Online sales increased 13.6 percent to $53.0 million for the 13-week fiscal quarter ended November 1, 2025, compared to net sales of $46.6 million for the 13-week fiscal quarter ended November 2, 2024.
Net sales for the 39-week fiscal period ended November 1, 2025 increased 7.2 percent to $898.7 million from net sales of $838.5 million for the prior year 39-week fiscal period ended November 2, 2024. Comparable store net sales for the 39-week period ended November 1, 2025 increased 6.3 percent from comparable store net sales for the prior year 39-week period ended November 2, 2024. Online sales increased 11.6 percent to $142.9 million for the 39-week period ended November 1, 2025, compared to net sales of $128.0 million for the 39-week period ended November 2, 2024.
Net income for the third quarter of fiscal 2025 was $48.7 million, or $0.97 per share ($0.96 per share on a diluted basis), compared with net income of $44.2 million, or $0.89 per share ($0.88 per share on a diluted basis) for the third quarter of fiscal 2024.
Net income for the 39-week fiscal period ended November 1, 2025 was $128.9 million, or $2.57 per share ($2.55 per share on a diluted basis), compared with net income of $118.3 million, or $2.37 per share ($2.35 per share on a diluted basis) for the 39-week period ended November 2, 2024.
Management will hold a live audio webcast at 10:00 a.m. EST today to discuss results for the quarter. To register for the live event, please visit https://buckle.zoom.us/webinar/register/WN_7AMcqxQxTjSHYhvFlyH1ag. 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 444 retail stores in 42 states. As of the end of the fiscal quarter, it operated 442 stores in 42 states compared with 445 stores in 42 states at the end of the third 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
Thirty-Nine Weeks Ended
November 1,
2025
November 2,
2024
November 1,
2025
November 2,
2024
SALES, Net of returns and allowances
$
320,837
$
293,618
$
898,695
$
838,490
COST OF SALES (Including buying, distribution, and occupancy costs)
166,931
153,547
472,804
445,188
Gross profit
153,906
140,071
425,891
393,302
OPERATING EXPENSES:
Selling
77,538
71,986
218,637
206,454
General and administrative
15,454
13,602
46,453
41,709
92,992
85,588
265,090
248,163
INCOME FROM OPERATIONS
60,914
54,483
160,801
145,139
OTHER INCOME, Net
3,589
4,023
9,926
11,510
INCOME BEFORE INCOME TAXES
64,503
58,506
170,727
156,649
INCOME TAX EXPENSE
15,803
14,334
41,828
38,379
NET INCOME
$
48,700
$
44,172
$
128,899
$
118,270
EARNINGS PER SHARE:
Basic
$
0.97
$
0.89
$
2.57
$
2.37
Diluted
$
0.96
$
0.88
$
2.55
$
2.35
Basic weighted average shares
50,199
49,854
50,199
49,854
Diluted weighted average shares
50,712
50,297
50,627
50,230
THE BUCKLE, INC.
CONSOLIDATED BALANCE SHEETS
(Amounts in Thousands Except Share and Per Share Amounts)
(Unaudited)
ASSETS
November 1,
2025
February 1,
2025 (1)
November 2,
2024
CURRENT ASSETS:
Cash and cash equivalents
$
316,152
$
266,929
$
301,958
Short-term investments
23,993
23,801
23,482
Receivables
8,222
6,758
7,901
Inventory
165,779
120,789
149,351
Prepaid expenses and other assets
24,977
20,932
22,236
Total current assets
539,123
439,209
504,928
PROPERTY AND EQUIPMENT
533,694
510,088
508,273
Less accumulated depreciation and amortization
(371,375
)
(364,336
)
(365,241
)
162,319
145,752
143,032
OPERATING LEASE RIGHT-OF-USE ASSETS
332,654
289,793
287,687
LONG-TERM INVESTMENTS
31,157
28,116
27,261
OTHER ASSETS
13,116
10,303
13,362
Total assets
$
1,078,369
$
913,173
$
976,270
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable
$
81,401
$
45,982
$
67,701
Accrued employee compensation
35,126
46,717
27,095
Accrued store operating expenses
27,397
19,266
25,921
Gift certificates redeemable
12,967
17,007
12,571
Current portion of operating lease liabilities
82,867
78,942
76,963
Income taxes payable
4,691
6,018
2,519
Total current liabilities
244,449
213,932
212,770
DEFERRED COMPENSATION
31,157
28,116
27,261
NON-CURRENT OPERATING LEASE LIABILITIES
292,033
247,321
247,850
Total liabilities
567,639
489,369
487,881
COMMITMENTS
STOCKHOLDERS’ EQUITY:
Common stock, authorized 100,000,000 shares of $.01 par value; issued and outstanding; 51,156,626 shares at November 1, 2025, 50,773,556 shares at February 1, 2025, and 50,773,796 shares at November 2, 2024
512
508
508
Additional paid-in capital
217,554
205,817
202,895
Retained earnings
292,664
217,479
284,986
Total stockholders’ equity
510,730
423,804
488,389
Total liabilities and stockholders’ equity
$
1,078,369
$
913,173
$
976,270
(1) Derived from audited financial statements.