Kearney-based Buckle (NYSE: BKE) held its 32nd annual shareholders meeting on Monday at its corporate headquarters in Kearney.
during the meeting, President and CEO Dennis Nelson commented on business operation of the company, alongside tariff concerns.
At the meeting, Nelson commented that there was minimal increases from vendors so far in response to tariffs, with some vendors not increasing their prices. Nelson also announced they will look to open up 7 new stores, while remodeling 16 stores over the course of the year.
With 94% of the 51 million outstanding shares voting, Nelson was re-elected as a member of the companies board of directors for a one year term, alongside Daniel Hirschfield, Thomas Heacock, Kari Smith, Hank Bounds, Bill Fairfield, Bruce Hoberman, Michael Huss, Shruti Joshi, Angie Klein, John Peetz III, Karen Rhoads, and James Shada. Deloitte was also retained as the companies auditor for a one year team, having served as Auditor for the company since 1990.
Late last month, the company announced a first quarter net income of $35.2 million, or $0.70 per share, beating an estimated $0.69 per share. That was a 3% from the first quarter of 2024. In March, Buckle declared a quarterly dividend of $0.35 per share. (Note: Buckle’s fiscal year ends on February 1, contrary to many companies who end their fiscal year with the calendar year on December 31.)
Within the company’s net sales for the fiscal year that ended on February 1, demin sales increased from 40.9% in the prior fiscal year to 42.5%; while there were small gains in youth clothing sales (3.4% to 3.6%) and accessories (10.8% to 11%). Footwear net sales decreased over the fiscal year from 6.7% to 5.3%, and smaller decreases were seen in outerwear (2.2% to 2.0%) and the sportswear/fashions group (5.4% to 5.1%). Of net sales, 47% comprised of the store’s private labels.
More on the Buckle’s financial information can be found with the companies SEC Form 10-K, which you can access by clicking/tapping here.
Disclaimer: Some employees of CentralNebraskaToday.com and parent company NRG Media of Central Nebraska are shareholders in Buckle.
