Short answer
BUCKLE INC (BKE) filed its fiscal 2025 10-K annual report with the SEC on Apr 2, 2025. It reported revenue of $1.2B (−3.4% year over year) and net income of $195M.
- Top risk flagged: Regulatory risk from evolving ESG disclosure requirements with potential impact on reputation and financial performance
FY2025 key financial metrics · XBRL
- Revenue
- $1.2B
- −3.4% YoY
- Net income
- $195M
- −11.1% YoY
- Operating margin
- 19.8%
- −1.7 pp YoY
- Gross margin
- 48.7%
- −0.4 pp YoY
- EPS (diluted)
- $3.89
- −11.6% YoY
- ROE
- 46.1%
- −7.1 pp YoY
- Operating cash flow
- $242M
- −5.0% YoY
Source: XBRL data from the BUCKLE INC (BKE) FY2025 10-K on SEC EDGAR. USD.
BUCKLE INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Retailer of medium to better-priced casual apparel, footwear, and accessories for fashion-conscious men, women, and kids, operating 441 U.S. stores as of Feb 1, 2025
- Strategic shift: Continued relocation of stores from enclosed malls to outdoor power centers and lifestyle centers targeting smaller and middle markets
- Notable metric: Maintained store count at 441 despite opening 8 and closing 11 stores in fiscal 2024, with plans to open 7 new stores in fiscal 2025
- R&D/Marketing spend: $21.8 million on marketing in fiscal 2024, representing 1.8% of net sales, emphasizing digital and seasonal campaigns
- Unique fact: Private label denim Axis Denim accounted for 20.4% of net sales in fiscal 2024, highlighting the importance of exclusive private label offerings
Management Discussion & Analysis
- Revenue $1.218B, down 3.4% YoY from $1.261B; comparable store sales down 2.7%, online sales down 4.3% to $197.7M
- Operating margin 19.8% vs 21.5%; gross margin 48.7% vs 49.1%; net income $195.5M vs $219.9M, net margin 16.1% vs 17.4%
- Best segment: merchandise margin improved by 0.55% net sales; worst segment: selling expenses rose to 24.1% from 23.1% of sales
- Cash flow from operations $242M vs $254.6M; capital expenditures $42.3M (stores and HQ); dividends $198M including $2.50/share special; no share repurchases
- FY2025 capital spend guidance $50–55M for 7 new stores and 18–22 remodels; risks include demand shifts, competition, economic conditions impacting sales and cash flow
Risk Factors
- Regulatory risk from evolving ESG disclosure requirements with potential impact on reputation and financial performance
- Macroeconomic threat from ongoing Ukraine conflict affecting consumer spending and net sales
- Operational risk due to reliance on single Kearney, Nebraska distribution center for all stores
- Competitive risk from e-commerce and omni-channel rivals impacting mall traffic and in-store sales
- Key-person risk with senior management departures potentially reducing net sales and increasing expenses
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