THE BUCKLE, INC. ANNOUNCES NET EARNINGS IN THE THIRD QUARTER
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Net sales for the 13-week fiscal quarter ended
Net sales for the 39-week period ended
The net profit for the third quarter of fiscal 2021 was
Net income for the 39-week period ended
Management will hold a conference call at
A replay of the call will be available for a period of two weeks starting today at
About the loop
Offering a unique blend of high quality on-trend clothing, accessories and footwear, Buckle is aimed at fashion-conscious young men and women. Known as a denim destination, each store offers a wide selection of fits, styles and finishes from leading denim brands, including the company’s exclusive brand, BKE. Based at
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: All forward-looking statements made by the Company involve significant risks and uncertainties and are subject to change based on factors which may be beyond the control of the Company. . Accordingly, the Company’s future performance and financial results may differ materially from those expressed or implied in such forward-looking statements. These factors include, without limitation, those described in documents filed by the Company with the
Note: Press releases and other information on
Financial tables to follow
CONSOLIDATED STATEMENTS OF INCOME (Amounts in thousands, except amounts per share)
(Unaudited)
Thirteen weeks completed Thirty-nine weeks completed
SALES, net of returns and indemnities
COST OF SALES (including purchase, distribution and
occupancy costs) 158 366 134 055 463 039 345 286
Gross profit 161,066,116,950 450 638 237,157
OPERATING COSTS :
Sales 67 771 52 894 190 827 124 655
General and administrative 11 080 9 930 33 912 29 026
78 851 62 824 224 739 153 681
OPERATING RESULT 82 215 54 126 225 899 83 476
OTHER INCOME, net 192 1,020 465 1,998
PROFIT BEFORE TAX 82 407 55 146 226 364 85 474
TAX CHARGE 20 190 13 511 55 459 20 941
NET REVENUE
EARNINGS PER SHARE:
Basic
Diluted
Core Weighted Average Equities 48,946 48,714 48,946 48,718
Diluted weighted average equities 49,362 48,987 49,338 48,941
CONSOLIDATED RESULTS
(Amounts in thousands except for amounts per share and per share)
(Unaudited)
ASSETSOctober 30,2021 January 30,2021 (1)October 31, 2020
CURRENT ASSETS:
Cash and cash equivalents
Short-term investments 11,302 3,359 7,410
Receivables 5,629 2,823 1,763
Inventory 100 593 101 063 118 707
Prepaid expenses and other assets 11,771 11 190 21,749
Total current assets 598,028,437 224,481,552
TANGIBLE FIXED ASSETS 454 118 451 357 451 708
Less accumulated depreciation (354,834) (350,942) (349,411)
99 284 100 415 102 297
RIGHT OF USE IN OPERATIONAL LEASE 264 183 279 358 287 197
OTHER ASSETS 12 311 10 497 10 104
Total assets
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Accounts payable
Compensation payable of employees 49,473 35,865 23,611
Store operating expenses 30,789 20,303 23,096
Exchangeable gift certificates 11 146 14 279 12 093
Current portion of operating lease debts 84 365 81 762 78 860
Taxes payable 4 10 751 7 994
Total current liabilities 239 295 206 359 203 283
DEFERRED COMPENSATION 20,024 18,320 16,729
NON-CURRENT OPERATING LEASE LIABILITIES 208 707 224 506 235 463
Total liabilities 468,026,449,185,455,475
COMMITMENTS
EQUITY:
Ordinary shares, authorized 100,000,000 shares of
exceptional; 49,783,381 shares to
30, 2021 and 49,407,731 shares to
Share premium 165,612 158,058 155,778
Retained earnings 359 694 238 077 286 132
Total equity 525 804 396 629 442 404
Total liabilities and equity
(1) Derived from audited financial statements.
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