Buckle (clothing retailer)
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The Buckle, Inc. is an upscale retailer selling clothing, footwear, and accessories for fashion-conscious young men and women.[1]
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| Type | Public (NYSE: BKE) |
|---|---|
| Industry | Retail |
| Founded | 1948 |
| Headquarters | Kearney, Nebraska, The USA |
| Number of locations | 433 (May 2012)[2] |
| Area served | Domestic |
| Key people | Daniel Hirschfeld, Founder and Chairman Dennis Nelson, President and CEO |
| Products | Clothing, footwear, accessories |
| Services | clothing retail, free alterations, layaway, free gift wrap (physical store), get fitted appointments |
| Revenue |  US$1 Billion (FY 2011)[3] |
| Operating income | US$199 Million (FY 2009)[3] |
| Net income | US$151 Million (FY 2011)[3] |
| Total assets | US$531 Million (FY 20011)[4] |
| Total equity | US$363 Million (FY 2011)[4] |
| Employees | 8,000 + [5] |
| Website | www.buckle.com |
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History [edit]
Buckle began as a men's clothing store in 1948 in Kearney, Nebraska. The first store was founded by David Hirschfeld and operated under the name "Mills Clothing". His son, Dan, took over the operations in 1965. In 1967, a second store was purchased and operated under the name "Brass Buckle". At that point, the Company began selling more casual men's clothing and by the early 1970s Brass Buckle had developed into a denim-based store. In 1977 the Company introduced women's clothing . In 1991, Brass Buckle changed its name to The Buckle, and in 1992 the Company went public on the NASDAQ and traded as BKLE. In 1997, The Buckle moved to the New York Stock Exchange where it now trades under the symbol, BKE.
- BKE Jeans are made in Mexico.
Buckle Executive Officers [edit]
- Dan Hirschfeld leads the Company as Chairman of the Board, he has been with the Company since 1965.
- Dennis Nelson, President and Chief Executive Officer, has been with the Company for over 30 years.
- Karen Rhoads, Vice President of Finance and Chief Financial Officer, has been with the Company for 24 years.
- Brett Milkie, Vice President of Leasing, has been with the Company for 19 years.
- Kari Smith, Vice President of Sales, has been with the Company for over 30 years.
- Patricia (Pat) Whisler, Vice President of Women's Merchandising, has been with the Company for 28 years.
- Robert Carlberg, Vice President of Men's Merchandising, has been full-time with the merchandising team since 2001.
- Kyle Hanson, Corporate Secretary and General Counsel, has been with the Company since 1998.
- Thomas Heacock, Treasurer and Corporate Controller, has been with the Company since 2003.
Buckle Board of Directors [edit]
- Dan Hirschfeld has been with the Company since 1965 and leads the company as Chairman of the Board.
- Dennis Nelson, President and Chief Executive Officer, The Buckle, Inc.
- Karen Rhoads, Vice President of Finance and Chief Financial Officer, The Buckle, Inc.
- John Peetz, III, Executive Vice President and Chief Operating Officer, Crete Carrier Corporation
- James Shada
- Bill Fairfield
- Robert Campbell, President and Operating Manager, Miller & Paine, LLC
- Bruce Hobermon, Chief Executive Officer, Proxibid, Inc.
- Michael Huss, General Counsel, Mutual of Omaha Bank and Deputy General Counsel and Corporate Secretary, Mutual of Omaha Companies
2011 Highlights [edit]
- Opened 13 new stores and completed 24 substantial remodels; closed 2 stores to end the fiscal year with 431 stores in 43 states.
- Achieved average net sales in excess of $1 Billion in fiscal 2011.
- Average sales per square foot were $462, up from $428 in fiscal 2011.
- Total denim sales increased for the twelfth consecutive year, reaching over five million pairs of jeans sold.
- Improved merchandise margins for the tenth consecutive year and achieved gross margins of 44.1%, as a percentage of net sales.
- Average transaction value increased 4.6% to $98.20 and average price point increased 1.9% to $45.90.[6]
Merchandise [edit]
Buckle markets a wide selection of brand names and private label casual clothing, including denims, other casual bottoms, fashion tops, sportswear, outerwear, accessories and footwear.
The main women's and men's brands found at the Buckle are BKE, Miss Me and Rock Revival. The Buckle is most popular for the jeans sold there. These jeans typically have intricate multicolored stitching and/or rhinestones on the back pockets. The stitching on these jeans is thicker than that on a pair of plain jeans. The jeans at the Buckle come in different washes and colors, the most common color being blue.
Jeans from the Buckle are very popular at consignment stores. Here, they are sold at discounted prices, often around 50% off. The lower prices make the jeans more accessible for teenagers and young adults, who may not be able to afford the jeans at full price .
Service [edit]
The company emphasizes personalized attention to its guests (customers) and provides individual customer services such as free alterations, layaways and a frequent shopper punch card, Buckle card Rewards, and Personal calls and or E-mails on preferred product/sizes. Employee Commission is 3 percent. Most stores are located in upscale malls across the country and have an online store.
Screen Printing Service [edit]
Buckle screen printing is a full-service solution offering a selection of promotional merchandise to outside athletic teams, organizations, clubs and individuals.
References [edit]
- ^ Buckle on Myspace
- ^ THE BUCKLE, INC. REPORTS QUARTERLY DIVIDEND
- ^ a b c Buckle Inc (BKE) annual SEC income statement filing via Wikinvest
- ^ a b Buckle Inc (BKE) annual SEC balance sheet filing via Wikinvest
- ^ "Buckle 2010 Annual Report" (PDF).
- ^
- Achieved positive comparable store sales for the fourth consecutive year, up 1.2%, and grew online sales 19.3%.
Sources [edit]
- Buckle 2011 Annual Report
- Buckle Corporate Website, www.buckle.com
- Buckle Corporate Office, Lydia Pierson and Callie Erickson
