Kari G. Smith, Executive Vice President of Stores at Buckle Inc. (NYSE:BKE), recently sold a significant portion of her holdings in the company. According to a recent SEC filing, Smith sold 20,000 shares of Buckle's common stock on December 10, 2024. The shares were sold at an average price of $52.29, totaling approximately $1.05 million. Following this transaction, Smith holds 53,460 shares directly and 150,554 shares indirectly through a trust. The sale comes as Buckle's stock has shown impressive momentum, with a 47.5% return over the past six months. According to InvestingPro data, the company maintains strong financial health with a GREAT overall score. Buckle Inc. is a prominent retailer in the family clothing store sector, headquartered in Kearney, Nebraska. The company boasts impressive gross profit margins of 58.7% and currently offers a significant dividend yield of 7.4%. InvestingPro analysis suggests the stock is slightly undervalued at current levels, with additional insights available in the comprehensive Pro Research Report covering this retailer.
In other recent news, Buckle has reported a decrease in its Q3 2024 net income and sales. The company's net income fell to $44.2 million, or $0.88 per share, compared to $51.8 million, or $1.04 per share, during the same period last year. Net sales also declined by 3.2% to $293.6 million, primarily due to a decline in men's merchandise and footwear sales. Despite these declines, Buckle saw a small increase in online sales and women's denim sales.
In terms of future developments, Buckle plans to open one more new store and complete seven remodels by the end of the year. For 2025, the company anticipates opening 7-8 new stores with a net addition of 2-3 stores.
While footwear sales saw a significant decline of 17%, private label penetration increased to 48.5% of sales and accessories sales grew by 3%. These are some of the recent developments at Buckle.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.