Nebraska | 001-12951 | 47-0366193 |
(State or other jurisdiction of | (Commission | (I.R.S. Employer |
incorporation or organization) | File Number) | Identification No.) |
2407 West 24th Street, Kearney, Nebraska | 68845-4915 | ||
(Address of principal executive offices) | (Zip Code) |
The Buckle, Inc. | |
Date: May 21, 2015 | By: /s/ KAREN B. RHOADS |
Name: Karen B. Rhoads | |
Title: Senior Vice President of Finance | |
and Chief Financial Officer |
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: May 21, 2015 | web: www.buckle.com |
Contact: | Karen B. Rhoads, Chief Financial Officer |
The Buckle, Inc. | |
(308) 236-8491 |
Thirteen Weeks Ended | |||||||
May 2, 2015 | May 3, 2014 | ||||||
SALES, Net of returns and allowances | $ | 271,345 | $ | 271,675 | |||
COST OF SALES (Including buying, distribution, and occupancy costs) | 157,748 | 154,475 | |||||
Gross profit | 113,597 | 117,200 | |||||
OPERATING EXPENSES: | |||||||
Selling | 49,154 | 47,794 | |||||
General and administrative | 11,638 | 10,194 | |||||
60,792 | 57,988 | ||||||
INCOME FROM OPERATIONS | 52,805 | 59,212 | |||||
OTHER INCOME, Net | 736 | 345 | |||||
INCOME BEFORE INCOME TAXES | 53,541 | 59,557 | |||||
PROVISION FOR INCOME TAXES | 19,971 | 22,215 | |||||
NET INCOME | $ | 33,570 | $ | 37,342 | |||
EARNINGS PER SHARE: | |||||||
Basic | $ | 0.70 | $ | 0.78 | |||
Diluted | $ | 0.70 | $ | 0.78 | |||
Basic weighted average shares | 48,074 | 47,886 | |||||
Diluted weighted average shares | 48,188 | 48,049 |
ASSETS | May 2, 2015 | January 31, 2015 (1) | May 3, 2014 | ||||||||
CURRENT ASSETS: | |||||||||||
Cash and cash equivalents | $ | 134,632 | $ | 133,708 | $ | 169,716 | |||||
Short-term investments | 22,792 | 25,857 | 22,092 | ||||||||
Receivables | 6,627 | 8,567 | 4,832 | ||||||||
Inventory | 129,626 | 129,921 | 119,206 | ||||||||
Prepaid expenses and other assets | 27,552 | 26,536 | 28,560 | ||||||||
Total current assets | 321,229 | 324,589 | 344,406 | ||||||||
PROPERTY AND EQUIPMENT | 436,393 | 427,915 | 400,624 | ||||||||
Less accumulated depreciation and amortization | (260,193 | ) | (255,252 | ) | (239,964 | ) | |||||
176,200 | 172,663 | 160,660 | |||||||||
LONG-TERM INVESTMENTS | 45,103 | 43,698 | 45,987 | ||||||||
OTHER ASSETS | 2,043 | 2,043 | 2,151 | ||||||||
$ | 544,575 | $ | 542,993 | $ | 553,204 | ||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||
CURRENT LIABILITIES: | |||||||||||
Accounts payable | $ | 38,778 | $ | 35,714 | $ | 36,439 | |||||
Accrued employee compensation | 12,037 | 36,920 | 12,904 | ||||||||
Accrued store operating expenses | 11,399 | 9,984 | 10,529 | ||||||||
Gift certificates redeemable | 19,402 | 23,992 | 18,794 | ||||||||
Income taxes payable | 19,265 | 15,661 | 21,415 | ||||||||
Total current liabilities | 100,881 | 122,271 | 100,081 | ||||||||
DEFERRED COMPENSATION | 13,541 | 14,261 | 13,724 | ||||||||
DEFERRED RENT LIABILITY | 39,940 | 40,566 | 38,231 | ||||||||
OTHER LIABILITIES | 10,192 | 10,617 | 10,270 | ||||||||
Total liabilities | 164,554 | 187,715 | 162,306 | ||||||||
COMMITMENTS | |||||||||||
STOCKHOLDERS’ EQUITY: | |||||||||||
Common stock, authorized 100,000,000 shares of $.01 par value; issued and outstanding; 48,532,213 shares at May 2, 2015, 48,379,613 shares at January 31, 2015, and 48,374,622 shares at May 3, 2014 | 485 | 484 | 484 | ||||||||
Additional paid-in capital | 133,446 | 131,112 | 126,401 | ||||||||
Retained earnings | 246,519 | 224,111 | 264,851 | ||||||||
Accumulated other comprehensive loss | (429 | ) | (429 | ) | (838 | ) | |||||
Total stockholders’ equity | 380,021 | 355,278 | 390,898 | ||||||||
$ | 544,575 | $ | 542,993 | $ | 553,204 | ||||||
(1) Derived from audited financial statements. |