KEARNEY, Neb., May 23, 2025--(BUSINESS WIRE)--The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended May 3, 2025 was $35.2 million, or $0.70 per share ($0.70 per share on a diluted basis).

Net sales for the 13-week fiscal quarter ended May 3, 2025 increased 3.7 percent to $272.1 million from net sales of $262.5 million for the prior year 13-week fiscal quarter ended May 4, 2024. Comparable store net sales for the 13-week fiscal quarter ended May 3, 2025 increased 3.0 percent from comparable store net sales for the prior year 13-week period ended May 4, 2024. Online sales increased 4.5 percent to $46.4 million for the 13-week fiscal quarter ended May 3, 2025, compared to net sales of $44.4 million for the 13-week fiscal quarter ended May 4, 2024.

Net income for the first quarter of fiscal 2025 was $35.2 million, or $0.70 per share ($0.70 per share on a diluted basis), compared with net income of $34.8 million, or $0.70 per share ($0.69 per share on a diluted basis) for the first quarter of fiscal 2024.

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_NwUpGyp-QgaJcZJrYn9cYw. 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 439 retail stores in 42 states. As of the end of the fiscal quarter, it operated 439 stores in 42 states compared with 440 stores in 42 states at the end of the first 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.

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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 May 3, 
2025  May 4, 
2024  SALES, Net of returns and allowances $ 272,121   $ 262,480   COST OF SALES (Including buying, distribution, and occupancy costs)  145,145    141,783   Gross profit  126,976    120,697   OPERATING EXPENSES:  Selling  67,199    63,726  General and administrative  16,231    14,575  83,430    78,301   INCOME FROM OPERATIONS  43,546    42,396   OTHER INCOME, Net  3,067    3,754   INCOME BEFORE INCOME TAXES  46,613    46,150   INCOME TAX EXPENSE  11,420    11,307   NET INCOME $ 35,193   $ 34,843    EARNINGS PER SHARE:  Basic $ 0.70   $ 0.70   Diluted $ 0.70   $ 0.69   Basic weighted average shares  50,199    49,854  Diluted weighted average shares  50,541    50,172

THE BUCKLE, INC.

CONSOLIDATED BALANCE SHEETS

(Amounts in Thousands Except Share and Per Share Amounts)

(Unaudited)   ASSETS May 3, 
2025  February 1, 
2025 (1)  May 4, 
2024  CURRENT ASSETS:  Cash and cash equivalents $ 268,884   $ 266,929   $ 267,427  Short-term investments  22,883    23,801    23,052  Receivables  7,927    6,758    6,139  Inventory  132,395    120,789    130,661  Prepaid expenses and other assets  23,554    20,932    19,550  Total current assets  455,643    439,209    446,829   PROPERTY AND EQUIPMENT  518,076    510,088    493,025  Less accumulated depreciation and amortization  (365,986 )   (364,336 )   (360,950 ) 152,090    145,752    132,075   OPERATING LEASE RIGHT-OF-USE ASSETS  330,014    289,793    288,646  LONG-TERM INVESTMENTS  28,275    28,116    26,763  OTHER ASSETS  11,307    10,303    11,757   Total assets $ 977,329   $ 913,173   $ 906,070   LIABILITIES AND STOCKHOLDERS’ EQUITY   CURRENT LIABILITIES:  Accounts payable $ 63,015   $ 45,982   $ 54,811  Accrued employee compensation  15,228    46,717    13,767  Accrued store operating expenses  23,494    19,266    23,477  Gift certificates redeemable  14,753    17,007    14,370  Current portion of operating lease liabilities  83,634    78,942    83,645  Income taxes payable  17,605    6,018    15,210  Total current liabilities  217,729    213,932    205,280   DEFERRED COMPENSATION  28,275    28,116    26,763  NON-CURRENT OPERATING LEASE LIABILITIES  286,052    247,321    240,212  Total liabilities  532,056    489,369    472,255   COMMITMENTS   STOCKHOLDERS’ EQUITY:  Common stock, authorized 100,000,000 shares of $.01 par value; issued and outstanding; 51,157,306 shares at May 3, 2025, 50,773,556 shares at February 1, 2025, and 50,778,536 shares at May 4, 2024  512    508    508  Additional paid-in capital  209,995    205,817    196,208  Retained earnings  234,766    217,479    237,099  Total stockholders’ equity  445,273    423,804    433,815   Total liabilities and stockholders’ equity $ 977,329   $ 913,173   $ 906,070   (1) Derived from audited financial statements.

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Contacts

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

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