Company Overview Summary – The Buckle, Inc.

Business Description

• Industry: Retailer of casual apparel, footwear, and accessories.
• Target Customers: Fashion-conscious men, women, and kids aged 15 to 30.
• Stores Operated: 441 retail stores across 42 states in the U.S.
• Locations: Most stores are in regional shopping malls and lifestyle centers. Some stores have been relocated from enclosed malls to power centers.

Products & Merchandising

• Product Range: Casual apparel including denims, casual bottoms, tops, sportswear, outerwear, accessories, and footwear.
• Major Product Categories:
  • Denims: 42.5% of fiscal 2024 net sales
  • Tops (including sweaters): 29.0%
  • Accessories: 11.0%
  • Footwear: 5.3%
  • Sportswear/fashions: 5.1%
  • Outerwear: 2.0%
  • Casual bottoms: 1.5%
  • Youth apparel: 3.6%
• Brand Strategy: Approximately 53% of net sales are from brand name merchandise (e.g., Levi’s, Rock Revival, Wrangler). The remaining sales are from private label merchandise (e.g., Buckle private labels and exclusive brands).

Revenue & Financials

• Fiscal Year End: February 1, 2025.
• Annual Revenue (Net Sales): $1.218 billion (52-week fiscal year).
• Comparable Store Sales: Decreased by 2.7% in fiscal 2024.
• Online Sales: $197.7 million, representing about 16.2% of total sales.
• Number of Customers: Not explicitly specified; estimated based on store count and revenue.
• Employees: Approximately 8,000 teammates, with about 2,800 full-time employees.

Business Operations & Strategies

• Store Locations & Expansion:
  • All stores are leased; most leases last about 10 years.
  • Anticipated opening of 7 new stores in fiscal 2025.
  • Focus on store remodeling and relocation, especially from enclosed malls to power and lifestyle centers.
  • Average store size: ~5,500 sq. ft.
• Distribution & Logistics:
  • Centralized distribution in Kearney, Nebraska.
  • System for daily merchandise shipments to stores; store inventories are tailored to local demand.
• Marketing & Advertising:
  • $21.8 million spent in fiscal 2024.
  • Loyalty program (Buckle Rewards) and private label credit card partnership.
  • Digital marketing, seasonal campaigns, in-store displays, and joint promotions with vendors.

Employees & Customer Service

• High employee turnover, especially in part-time store staff.
• Focus on personalized service, including free hemming, gift wrapping, layaways, and loyalty programs.
• Store personnel involve store managers, assistant managers, full-time, and part-time staff, with peak staffing during back-to-school and holiday seasons.

Key Assets & Infrastructure

• Corporate headquarters and distribution center in Kearney, Nebraska:
  • Approximately 261,200 sq. ft. total.
• Distribution center built in 2010 for efficient merchandise handling and shipping.

Revenue & Income Highlights (Fiscal 2024)

• Net Income: $195.5 million (down from $219.9 million in fiscal 2023).
• Operating Income: $241.4 million (19.8% of net sales).
• Gross Profit: $592.8 million (48.7% of net sales).
• Total Assets: $913.2 million.
• Market Value: Approximately $1.19 billion in market capitalization as of August 2024.

Summary

The Buckle, Inc. is a prominent fashion retailer with a focus on casual apparel, denim, and accessories mainly for young adults. It operates 441 stores across the U.S., with significant emphasis on private label and exclusive brand merchandise. The company has a strong online presence and is actively expanding and remodeling stores, aiming to tailor inventory by location and enhance customer experience through personalized services and marketing efforts. Revenue for fiscal 2024 was approximately $1.218 billion, with a net income of $195.5 million. The company employs about 8,000 teammates and maintains a significant market value.