The Buckle (BKE) Q4 2025 earnings summary

Executive summary

• Q4 net income was $77.2M ($1.53/share diluted), down from $79.6M ($1.59/share) prior year; full-year net income $195.5M ($3.89/share) vs. $219.9M ($4.40/share) prior year.

• Q4 net sales were $379.2M, down 0.8% year-over-year; full-year net sales $1.218B, down 3.4%.

• Q4 comparable store sales rose 3.9% year-over-year; full-year comparable store sales down 2.7%.

• Online sales up 12% year-over-year for Q4; full-year online sales down 2.5%.

• Ended year with 441 stores in 42 states, down from 444 prior year.

Financial highlights

• Q4 gross margin was 52.6%, up 30 bps; full-year gross margin 48.7%, down 40 bps.

• Q4 operating margin 25.4% vs. 25.2% prior year; full-year operating margin 19.8% vs. 21.5%.

• Q4 operating income was $96.2M, nearly unchanged from $96.5M last year; full-year operating income $241.4M, down from $271.1M.

• Ended year with $318.8M in cash/investments after $198M in dividends paid; cash and cash equivalents at year-end were $266.9M.

• Inventory at year-end $120.8M, down 4.4% year-over-year.

Segment performance

• Women's merchandise Q4 sales up 4.5% (11% on comparable basis), led by denim (+15%, private label +20%).

• Men's merchandise Q4 sales down 4% (up 1% comparable); men's denim up 1.5% comparable.

• Accessory sales up 7.5%, footwear down 7% year-over-year for the quarter; youth sales up 10%.

• Private label represented 51% of Q4 sales, up from 50% prior year.