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) |
Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered |
Common Stock, $0.01 par value | BKE | New York Stock Exchange |
The Buckle, Inc. | |
Date: November 22, 2019 | By: /s/ THOMAS B. HEACOCK |
Name: Thomas B. Heacock | |
Title: Senior Vice President of Finance, | |
Treasurer and Chief Financial Officer |
Press Release Dated November 22, 2019 | |
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: November 22, 2019 | web: www.buckle.com |
Contact: | Thomas B. Heacock, Chief Financial Officer |
The Buckle, Inc. | |
(308) 236-8491 |
Thirteen Weeks Ended | Thirty-Nine Weeks Ended | ||||||||||||||
November 2, 2019 | November 3, 2018 | November 2, 2019 | November 3, 2018 | ||||||||||||
SALES, Net of returns and allowances | $ | 224,121 | $ | 215,107 | $ | 629,251 | $ | 621,084 | |||||||
COST OF SALES (Including buying, distribution, and occupancy costs) | 130,587 | 128,950 | 380,367 | 376,305 | |||||||||||
Gross profit | 93,534 | 86,157 | 248,884 | 244,779 | |||||||||||
OPERATING EXPENSES: | |||||||||||||||
Selling | 51,282 | 50,612 | 146,426 | 144,361 | |||||||||||
General and administrative | 8,942 | 9,244 | 30,812 | 30,696 | |||||||||||
60,224 | 59,856 | 177,238 | 175,057 | ||||||||||||
INCOME FROM OPERATIONS | 33,310 | 26,301 | 71,646 | 69,722 | |||||||||||
OTHER INCOME, Net | 1,105 | 1,332 | 4,446 | 3,791 | |||||||||||
INCOME BEFORE INCOME TAXES | 34,415 | 27,633 | 76,092 | 73,513 | |||||||||||
PROVISION FOR INCOME TAXES | 8,431 | 7,157 | 18,642 | 19,040 | |||||||||||
NET INCOME | $ | 25,984 | $ | 20,476 | $ | 57,450 | $ | 54,473 | |||||||
EARNINGS PER SHARE: | |||||||||||||||
Basic | $ | 0.54 | $ | 0.42 | $ | 1.18 | $ | 1.13 | |||||||
Diluted | $ | 0.53 | $ | 0.42 | $ | 1.18 | $ | 1.12 | |||||||
Basic weighted average shares | 48,549 | 48,379 | 48,550 | 48,379 | |||||||||||
Diluted weighted average shares | 48,809 | 48,611 | 48,768 | 48,584 |
ASSETS | November 2, 2019 | February 2, 2019 (1) | November 3, 2018 | ||||||||
CURRENT ASSETS: | |||||||||||
Cash and cash equivalents | $ | 213,836 | $ | 168,471 | $ | 177,918 | |||||
Short-term investments | 31,946 | 51,546 | 45,605 | ||||||||
Receivables | 9,432 | 7,089 | 8,266 | ||||||||
Inventory | 138,879 | 125,190 | 145,473 | ||||||||
Prepaid expenses and other assets | 22,195 | 18,136 | 19,862 | ||||||||
Total current assets | 416,288 | 370,432 | 397,124 | ||||||||
PROPERTY AND EQUIPMENT | 453,859 | 452,187 | 460,523 | ||||||||
Less accumulated depreciation and amortization | (336,098 | ) | (321,505 | ) | (324,044 | ) | |||||
117,761 | 130,682 | 136,479 | |||||||||
OPERATING LEASE RIGHT-OF-USE ASSETS | 340,417 | — | — | ||||||||
LONG-TERM INVESTMENTS | 15,710 | 18,745 | 18,322 | ||||||||
OTHER ASSETS | 7,939 | 7,443 | 7,170 | ||||||||
Total assets | $ | 898,115 | $ | 527,302 | $ | 559,095 | |||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||
CURRENT LIABILITIES: | |||||||||||
Accounts payable | $ | 44,771 | $ | 29,008 | $ | 48,400 | |||||
Accrued employee compensation | 18,122 | 21,452 | 17,996 | ||||||||
Accrued store operating expenses | 21,539 | 17,982 | 21,851 | ||||||||
Gift certificates redeemable | 12,688 | 16,634 | 13,907 | ||||||||
Current portion of operating lease liabilities | 81,541 | — | — | ||||||||
Income taxes payable | — | 5,142 | — | ||||||||
Total current liabilities | 178,661 | 90,218 | 102,154 | ||||||||
DEFERRED COMPENSATION | 15,410 | 13,978 | 13,804 | ||||||||
NON-CURRENT OPERATING LEASE LIABILITIES | 286,706 | — | — | ||||||||
DEFERRED RENT LIABILITY | — | 29,229 | 30,287 | ||||||||
Total liabilities | 480,777 | 133,425 | 146,245 | ||||||||
COMMITMENTS | |||||||||||
STOCKHOLDERS’ EQUITY: | |||||||||||
Common stock, authorized 100,000,000 shares of $.01 par value; issued and outstanding; 49,223,811 shares at November 2, 2019, 49,017,395 shares at February 2, 2019, and 49,017,975 shares at November 3, 2018 | 492 | 490 | 490 | ||||||||
Additional paid-in capital | 151,383 | 148,564 | 147,584 | ||||||||
Retained earnings | 265,463 | 244,823 | 264,776 | ||||||||
Total stockholders’ equity | 417,338 | 393,877 | 412,850 | ||||||||
Total liabilities and stockholders’ equity | $ | 898,115 | $ | 527,302 | $ | 559,095 | |||||
(1) Derived from audited financial statements. |