The Buckle, Inc.
- Open
- 42.20
- Day high
- 42.73
- Day low
- 42.19
- Prev close
- 42.60
- Volume
- 67K
- Mkt cap
- $2.2B
- P/E (TTM)
- 9.7
- EPS (TTM)
- $4.38
- P/B
- 4.5
- P/S
- 1.7
- Yield
- 10.32%
- Per share
- $4.40
- ▼Insiders net selling -$111K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions accumulating (13F)
The Buckle, Inc. (BKE) is a Consumer Cyclical company listed on NYSE. The stock is down 25% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
The Buckle, Inc. (BKE) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BKE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 21, 2026 | $0.81 | $0.87 | +6.9% | $320M | -0.1% |
| May 29, 2026 | $0.74 | $0.92 | +24.7% | $289M | +0.3% |
| Mar 13, 2026 | $1.51 | $1.59 | +5.2% | $399M | +38.6% |
| Nov 21, 2025 | $0.95 | $0.96 | +1.1% | $321M | +0.2% |
| Aug 22, 2025 | $0.86 | $0.89 | +3.0% | $306M | -0.4% |
| May 23, 2025 | $0.69 | $0.70 | +1.3% | $272M | +1.8% |
| Mar 14, 2025 | $1.39 | $1.53 | +10.1% | $379M | +39.4% |
| Nov 22, 2024 | $0.84 | $0.88 | +4.6% | $294M | +0.1% |
| Aug 23, 2024 | $0.80 | $0.78 | -2.5% | $282M | +2.1% |
| May 24, 2024 | $0.74 | $0.69 | -6.8% | $262M | -0.5% |
| Mar 15, 2024 | $1.44 | $1.59 | +10.2% | $382M | -0.4% |
| Nov 17, 2023 | $0.95 | $1.04 | +9.0% | $303M | -20.1% |
BKE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 10, 2026 | FAIRFIELD BILL Ldirector | Sell | 2,500 | $44.44 |
| Apr 14, 2026 | SMITH KARI Gdirector, officer: EVP Stores | Sell | 30,000 | $54.57 |
| Apr 14, 2026 | HOFFMAN MICHELLEofficer: SVP Sales | Sell | 16,200 | $54.80 |
| Mar 23, 2026 | HOFFMAN MICHELLEofficer: SVP Sales | Sell | 719 | $50.00 |
| Mar 23, 2026 | HOFFMAN MICHELLEofficer: SVP Sales | Sell | 29,281 | $49.12 |
| Mar 17, 2026 | SMITH KARI Gdirector, officer: EVP Stores | Sell | 1,140 | $49.81 |
| Mar 17, 2026 | SMITH KARI Gdirector, officer: EVP Stores | Sell | 48,860 | $50.39 |
| Feb 2, 2026 | SHADA JAMES Edirector | Grant | 3,000 | — |
| Feb 2, 2026 | NELSON DENNIS Hdirector, officer: President & CEO | Grant | 120,000 | — |
| Feb 2, 2026 | HEACOCK THOMAS Bdirector, officer: SVP Finance, Treasurer, & CFO | Grant | 18,400 | — |
| Feb 2, 2026 | FRITZ JENSCHKE BRADY Mofficer: SVP, Gen Counsel, & Corp Sec | Grant | 13,000 | — |
| Feb 2, 2026 | MILKIE BRETT Pofficer: SVP Leasing | Grant | 18,400 | — |
| Feb 2, 2026 | HUSS MICHAEL Edirector | Grant | 3,000 | — |
| Feb 2, 2026 | Peetz John Pdirector | Grant | 3,000 | — |
| Feb 2, 2026 | BOUNDS HANK Mdirector | Grant | 3,000 | — |
Source: BKE SEC Form 4 filings, latest Jun 10, 2026. For informational purposes only — not investment advice.
See the full BKE insider & 13F page →The Buckle, Inc. company profile
Overview
The Buckle, Inc. (NYSE:BKE) is a specialty retailer of casual apparel, footwear, and accessories founded in 1948 and headquartered in Kearney, Nebraska. Originally incorporated as Mills Clothing, Inc., the company changed its name to The Buckle in 1991 and went public in 1992. The Buckle operates 440 retail stores across 42 states, primarily targeting young men and women aged 16-35 with a focus on denim and casual fashion. The company has built a reputation for personalized customer service and has successfully navigated the challenging retail landscape through strategic store relocations, private label development, and digital commerce investments.
Business
The Buckle operates in the specialty apparel retail industry, focusing on casual fashion for young adults. The company's core business revolves around selling denim jeans, which account for approximately 35-43% of total sales, along with other casual bottoms, tops, sportswear, outerwear, accessories, and footwear. The specialty retail industry involves curating and selling fashion merchandise through physical stores and online channels, differentiating from department stores through focused product categories and specialized customer service. The company operates through two primary channels: 1. **Physical retail stores** representing the majority of sales, with 440 locations across 42 states operating under "The Buckle" and "Buckle" names, and 2. **E-commerce platform** through buckle.com, which generates approximately 15-20% of total revenue and has been growing at double-digit rates. The Buckle's merchandise mix consists of several segments: **Women's merchandise** accounts for approximately 43-47% of sales, **Men's merchandise** represents 53-57% of sales, **Accessories** make up about 11% of sales, and **Footwear** contributes roughly 5-6% of sales. The company has been strategically increasing its **private label penetration**, which now represents approximately 51% of total sales, up from historical levels around 40-45%. Key private label brands include BKE, Buckle Black, Salvage, Red by BKE, Daytrip, and others, allowing for higher margins and product differentiation. The company also provides various services including hemming, gift packaging, layaway programs, a guest loyalty program, private label credit card services, and personalized stylist services. A special order system allows stores to obtain requested merchandise from other locations or the online fulfillment center, enhancing inventory flexibility and customer satisfaction.
Revenue model
The Buckle generates revenue primarily through **direct product sales** to consumers, operating on a traditional retail markup model. Customers pay full retail prices for merchandise, with the company earning the difference between wholesale costs and selling prices. The business model benefits from multiple revenue streams: in-store sales account for approximately 80-85% of revenue, while e-commerce contributes 15-20% and has been growing consistently. The company's **private label strategy** is central to its profitability, with house brands now representing 51% of sales. Private label merchandise typically carries higher gross margins than third-party brands because The Buckle controls the entire value chain from design to retail, eliminating wholesale markups. This strategy has helped the company maintain merchandise margins even during challenging retail environments. **Paying customers** are primarily young adults aged 16-35, with a focus on fashion-conscious consumers seeking quality denim and casual wear. The company's target demographic includes both male and female customers, though the mix has evolved with women's merchandise representing a growing portion of sales. Several factors influence The Buckle's margins and profitability. **Positive margin drivers** include increased private label penetration, effective inventory management reducing markdowns, successful product mix optimization favoring higher-margin categories like denim, and the company's ability to maintain pricing power through brand differentiation. The ongoing store relocation strategy from enclosed malls to outdoor shopping centers has also improved store productivity and reduced occupancy costs. **Margin pressures** come from wage inflation affecting store labor costs, competitive pricing pressure in the retail apparel market, seasonal fluctuations requiring promotional activity, and potential supply chain disruptions affecting product costs. The company has also faced challenges from declining mall traffic, though its relocation strategy has helped mitigate this issue. E-commerce growth, while positive for sales, typically carries lower margins due to shipping costs and digital marketing expenses, though the company has implemented strategies like free shipping for loyalty members to improve online profitability.
Competitive moat
The Buckle's competitive moat is **moderate but narrowing** in the increasingly competitive specialty retail landscape. The company's primary defensive advantages center around its **specialized denim expertise** and **personalized customer service model**. With over 75 years in business, The Buckle has developed deep relationships with denim suppliers and has built significant expertise in fit, styling, and merchandising of jeans, which remain a core category representing 35-43% of sales. The company's **private label portfolio** provides some competitive differentiation, with house brands now representing 51% of sales. This private label focus allows for better margin control, unique product offerings, and reduced dependence on third-party brands that competitors can also carry. Brands like BKE, Buckle Black, and others have developed loyal followings among the target demographic. **Geographic positioning** offers limited protection, as The Buckle operates primarily in smaller markets and secondary cities where it may face less direct competition from larger specialty retailers. The company's store relocation strategy from enclosed malls to outdoor shopping centers has improved store productivity and positioned locations in more convenient, accessible formats. However, The Buckle faces significant **competitive threats** that limit the strength of its moat. **E-commerce disruption** from both pure-play online retailers and omnichannel competitors has intensified price competition and reduced barriers to entry. Major competitors like American Eagle, Abercrombie & Fitch, and fast-fashion retailers like Zara and H&M offer similar products often at lower price points with broader geographic reach. The **democratization of fashion retail** through social media and direct-to-consumer brands has made it easier for new entrants to reach The Buckle's target demographic without the overhead of physical stores. Additionally, the company's focus on mall-based retail, while being addressed through relocations, has historically been a vulnerability as shopping patterns have shifted. The company's moat is **not particularly strong** compared to technology companies or businesses with network effects. Success depends heavily on execution in merchandising, store operations, and adapting to changing consumer preferences, making it vulnerable to management missteps or shifts in fashion trends.
Risks & safety
The Buckle demonstrates a **strong margin of safety** from a financial stability perspective, though valuation metrics present mixed signals. **Financial Strength:** - **Cash position**: $267 million in cash and short-term investments with minimal debt - **Debt-to-equity ratio**: 0.77, primarily consisting of operating liabilities rather than financial debt - **Current ratio**: 2.05, indicating strong liquidity to meet short-term obligations - **Free cash flow**: $200 million annually, representing strong cash generation - **No solvency risk**: The company operates essentially debt-free with substantial cash reserves **Valuation Metrics:** - **P/E ratio**: 7.7x based on recent earnings, suggesting potential undervaluation - **EV/EBITDA**: 6.0x, reasonable for a mature retailer - **Price-to-book ratio**: 5.6x, elevated but not extreme for a profitable retailer - **Return on equity**: 18.2%, indicating efficient capital utilization **Other Considerations:** - **Dividend sustainability**: Strong cash flow supports consistent dividend payments - **Inventory management**: Well-controlled inventory levels with minimal obsolescence risk - **Store lease obligations**: Manageable lease commitments with strategic relocation flexibility - **Seasonal cash flow**: Predictable seasonal patterns with strong Q4 performance providing cash flow stability
Recent development
Over the past few years, The Buckle has executed several strategic initiatives to adapt to the evolving retail landscape. The company's most significant strategic pivot has been its **store relocation program**, systematically moving locations from enclosed shopping malls to outdoor shopping centers and power centers. Over the past four years, 51 out of 74 store remodels were relocations, with management planning to continue this strategy with at least half of future remodels being relocations. This shift addresses declining mall traffic while positioning stores in more convenient, accessible locations that typically generate higher sales productivity. **Private label expansion** has been another key strategic focus, with house brands growing from approximately 44% of sales in 2022 to 51% in 2024. The company has invested heavily in developing its private label portfolio, particularly in the denim category where private label denim has shown strong double-digit growth. This strategy provides better margin control and product differentiation while reducing dependence on third-party brands. **Digital commerce investments** have accelerated, with the company engaging third-party consultants to comprehensively review and improve its website experience. Recent improvements include enhanced site navigation, improved product filters, streamlined checkout processes, and better product display functionality. The company has also introduced free shipping for loyalty members and reallocated digital marketing spend to balance customer acquisition and retention strategies. **Youth business expansion** represents an emerging growth opportunity, with the company targeting customers aged 8-12. This segment has shown strong performance, growing 10% in the most recent quarter and 27% for fiscal 2022. The youth business is currently available in approximately 75% of stores, with four dedicated youth stores serving as testing grounds for potential broader expansion. The company has maintained a **disciplined approach to store expansion**, planning to open 7-8 new stores annually while closing underperforming locations, resulting in net additions of 2-3 stores per year. This measured expansion focuses on strategic markets and optimal store formats rather than aggressive growth.
BKE company profile · for informational purposes only — not investment advice.
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