Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

THE BUCKLE, INC.

(BKE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

The Buckle, Inc. : Reports Third Quarter Net Income

12/05/2013 | 07:41am EDT

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 21, 2013 web: www.buckle.com

Contact: Karen B. Rhoads, Chief Financial Officer

The Buckle, Inc.
308/236-8491

THE BUCKLE, INC. REPORTS THIRD QUARTER NET INCOME

KEARNEY, NE -- The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended November 2, 2013 was $40.6 million, or $0.85 per share ($0.85 per share on a diluted basis).
Net sales for the 13-week fiscal quarter ended November 2, 2013 increased 0.9 percent to $286.8 million from net sales of $284.1 million for the prior year 13-week fiscal quarter ended October 27, 2012. Comparable store net sales for the 13-week period ended November 2, 2013 decreased 0.5 percent from comparable store net sales for the prior year 13-week period ended November 3, 2012. Online sales (which are not included in comparable store sales) increased 11.9 percent to $22.0 million for the 13- week period ended November 2, 2013, compared to net sales of $19.6 million for the 13-week period ended October 27, 2012.
Net sales for the 39-week fiscal period ended November 2, 2013 increased 3.4 percent to $789.0 million from net sales of $763.4 million for the prior year 39-week fiscal period ended October 27, 2012. Comparable store net sales year-to-date for the 39-week period ended November 2, 2013 increased 1.2 percent from comparable store net sales for the prior year 39-week period ended November 3, 2012. Online sales (which are not included in comparable store sales) increased 7.9 percent to $59.7 million for the 39-week period ended November 2, 2013, compared to net sales of $55.4 million for the 39-week period ended October 27, 2012.
Due to the 53rd week in fiscal 2012, comparable store net sales for the quarter and year-to-date periods are compared to the 13-week and 39-week periods ended November 3, 2012.
Net income for the third quarter of fiscal 2013 was $40.6 million, or $0.85 per share ($0.85 per share on a diluted basis), compared with $41.9 million, or $0.89 per share ($0.88 per share on a diluted basis) for the third quarter of fiscal 2012.
Net income for the 39-week fiscal period ended November 2, 2013 was $103.3 million, or $2.17 per share ($2.15 per share on a diluted basis), compared with $102.9 million, or $2.18 per share ($2.16 per share on a diluted basis) for the 39-week fiscal period ended October 27, 2012.
Management will hold a conference call at 9:30 a.m. EST today to discuss results for the quarter. To participate in the call, please call (800) 230-1951 and reference the conference code 307978. A replay of the call will be available for a two-week period beginning November 21, 2013 at 11:30 a.m. EST by calling (800) 475-6701 and entering the conference code 307978.

About Buckle

Offering a unique mix of high-quality, on-trend apparel, accessories, and footwear, Buckle caters to fashion-conscious young men and women. 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 452 retail stores in 43 states. As of the end of the fiscal quarter, it operated 452 stores in 43 states compared with 440 stores in
43 states at the end of the third quarter of fiscal 2012.
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 on the Internet.

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 2, October 27, November 2, October 27,



2013 2012 2013 2012

SALES, Net of returns and allowances

$ 286,761

$ 284,147

$ 789,002

$ 763,392

COST OF SALES (Including buying,

distribution, and occupancy costs) 160,536158,732451,283437,279

Gross profit 126,225125,415337,719326,113

OPERATING EXPENSES:

Selling 51,991 49,257 144,225 137,018

General and administrative 10,1769,99530,77628,520

62,167 59,252 175,001 165,538

INCOME FROM OPERATIONS 64,058 66,163 162,718 160,575

OTHER INCOME, Net 3611721,2182,345

INCOME BEFORE INCOME TAXES 64,419 66,335 163,936 162,920

PROVISION FOR INCOME TAXES 23,83524,41860,65659,971

NET INCOME

$ 40,584

$ 41,917

$ 103,280

$ 102,949

EARNINGS PER SHARE: Basic

$ 0.85

$ 0.89

$ 2.17

$ 2.18

Diluted

$ 0.85

$ 0.88

$ 2.15

$ 2.16

Basic weighted average shares 47,707 47,358 47,703 47,307

Diluted weighted average shares 47,984 47,689 47,959 47,650

THE BUCKLE, INC.

CONSOLIDATED BALANCE SHEETS



(Amounts in Thousands Except Share and Per Share Amounts) (Unaudited)

ASSETS

November2,

2013

February 2,

2013 (1)

October 27,

2012

CURRENT ASSETS:

Cash and cash equivalents

$130,841

$117,608

$213,036

Short-terrn investrnents

25,455

26,414

31,705

Receivables

7,866

3,470

7,906

Inventory

146,290

103,853

134,507

Prepaid expenses and other assets

29,017

25,528

18,079

Total current assets

339,469

276,873

405,233

PROPERTY AND EQU1PMENT

395,272

373,286

376,527

Less accurnulated depreciat:ion and amort:izat:ion

(230,386)

(210,183)

(205,965)

164,886

163,103

170,562

LONG-TERM 1NVESTMENTS

39,307

35,735

33,847

OTHER ASSETS

2,121

2,263

2,254

$545 783

;l:Z:Z 2:Z;l

$611896

LIABILITIES ANO STOCKHOLDERS' EQUITY

CURRENT LlAB1LlTlES:

Accmmts payable

$ 49,079

$ 34,124

$ 38,249

Accrued ernployee cornpensat:ion

25,781

42,183

28,126

Accrued store operat:ing expenses

12,738

10,121

11,625

Gift cert:ificates redeernable

15,152

22,221

13,381

Incorne taxes payable

10,623

20,307

12,521

Total current liabilit:ies

113,373

128,956

103,902

DEFERRED COMPENSAT10N

12,626

10,600

10,065

DEFERRED RENT LlAB1LlTY

37,488

36,947

37,093

OTHER LlAB1LlTlES

10,432

11,822

12,351



Totalliabilities 173,919188,325163,411

COMM1TMENTS STOCKHOLDERS' EQU1TY:

Conunon stock, authorized 100,000,000 shares of$.01 par value;

issued and outstanding; 48,329,282 shares at November 2, 2013, 48,059,269

shares at February 2, 2013, and 47,941,952 shares at October 27, 2012

483

481

479

Additional paid-in capital

125,158

117,391

111,398

Retained eamings

246,995

172,711

337,232

Accurnulated other cornprehensive loss

(772)

(934)

(624)

Total stockholders' equity



371,864 289,649 448,485

$545 183 ;l:Z:Z 2:Z;l $611 826

(l) Derived frorn audited financial staternents.

distributed by

© Publicnow 2013
All news about THE BUCKLE, INC.
09/14BUCKLE : Keeps Quarterly Dividend at $0.33 a Share, Payable Oct. 29 to Sharehold..
MT
09/14BUCKLE : REPORTS QUARTERLY DIVIDEND (Form 8-K)
PU
09/14BUCKLE INC : Other Events (form 8-K)
AQ
09/14BUCKLE : Reports Quarterly Dividend
PU
09/14BUCKLE :  The Buckle, Inc. Reports Quarterly Dividend
BU
09/14The Buckle, Inc. Announces Quarterly Dividend, Payable on October 29, 2021
CI
09/09BUCKLE : Management's discussion and analysis of financial condition and results..
AQ
09/02BUCKLE : Net Sales Rise 43% in August
MT
09/02BUCKLE : Press Release Narrative for 9/2/2021
PU
09/02THE BUCKLE, INC. : Reports August 2021 Net Sales
BU
More news
Analyst Recommendations on THE BUCKLE, INC.
More recommendations
Financials (USD)
Sales 2022 1 195 M - -
Net income 2022 211 M - -
Net Debt 2022 - - -
P/E ratio 2022 9,59x
Yield 2022 -
Capitalization 2 014 M 2 014 M -
Capi. / Sales 2022 1,68x
Capi. / Sales 2023 1,85x
Nbr of Employees 4 950
Free-Float 59,7%
Chart THE BUCKLE, INC.
Duration : Period :
The Buckle, Inc. Technical Analysis Chart | BKE | US1184401065 | MarketScreener
Technical analysis trends THE BUCKLE, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 2
Last Close Price 41,15 
Average target price
Spread / Average Target -
EPS Revisions
Managers and Directors
Dennis H. Nelson President, Chief Executive Officer & Director
Thomas B. Heacock Chief Financial Officer, Treasurer, Director & SVP
Daniel J. Hirschfeld Chairman
Bill L. Fairfield Independent Director
Bruce L. Hoberman Independent Director
Sector and Competitors
1st jan.Capi. (M$)
THE BUCKLE, INC.40.92%2 014
INDITEX21.77%115 946
KERING7.20%93 261
FAST RETAILING CO., LTD.-17.39%70 997
ROSS STORES, INC.-7.46%40 732
HENNES & MAURITZ AB0.28%33 102