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OFFON

THE BUCKLE, INC.

(BKE)
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BUCKLE INC : Other Events (form 8-K)

03/31/2020 | 11:57am EDT

ITEM 8.01. Other Events

On March 31, 2020, The Buckle, Inc. (the "Company") issued a press release announcing that after thoughtful consideration of the health and welfare of its guests, teammates, and communities, it will extend the closure of all brick and mortar stores indefinitely. The Company's online store at buckle.com will remain open. Company management will continue to monitor as additional guidance is issued from the Center for Disease Control along with U.S. and local governments as it develops plans to open stores at a future date.

Given the uncertainty regarding the potential length and severity of the pandemic as well as the potential impact to the Company, the Company will furlough the majority of its store and corporate office teammates effective April 5, 2020. During the furlough period, the Company will continue to provide full benefits for participating teammates. All essential teammates who continue working during this period will participate in salary reductions. Additionally, the Company previously announced that both its Chairman and its President and Chief Executive Officer elected to forgo their salary until such time as normal business operations resume. Similarly, the Company's Board of Directors elected to forgo their respective quarterly cash retainers for the current quarter.

The full text of the press release is furnished as Exhibit 99.1 to this report.

ITEM 9.01(d). Exhibits

Exhibit 99.1 Press Release Dated March 31, 2020

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© Edgar Online, source Glimpses

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