8-K
BUCKLE INC (BKE)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
March 31, 2020
Date of Report (date of earliest event reported)
THE BUCKLE, INC.
(Exact name of Registrant as specified in its charter)
| Nebraska | 001-12951 | 47-0366193 |
|---|---|---|
| (State or other jurisdiction of | (Commission | (I.R.S. Employer |
| incorporation or organization) | File Number) | Identification No.) |
| 2407 West 24th Street, Kearney, Nebraska | 68845-4915 | |
| --- | --- | |
| (Address of principal executive offices) | (Zip Code) |
Registrant's telephone number, including area code: (308) 236-8491
__________________________________________________________
(Former name, former address and former fiscal year if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered |
|---|---|---|
| Common Stock, $0.01 par value | BKE | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
TABLE OF CONTENTS
| ITEM 8.01 | Other Events |
|---|---|
| ITEM 9.01(d) | Exhibits |
| SIGNATURES | |
| EXHIBIT INDEX | |
| EXHIBIT 99.1 |
ITEM 8.01. Other Events
On March 31, 2020, The Buckle, Inc. (the "Company") issued a press release announcing that after thoughtful consideration of the health and welfare of its guests, teammates, and communities, it will extend the closure of all brick and mortar stores indefinitely. The Company’s online store at buckle.com will remain open. Company management will continue to monitor as additional guidance is issued from the Center for Disease Control along with U.S. and local governments as it develops plans to open stores at a future date.
Given the uncertainty regarding the potential length and severity of the pandemic as well as the potential impact to the Company, the Company will furlough the majority of its store and corporate office teammates effective April 5, 2020. During the furlough period, the Company will continue to provide full benefits for participating teammates. All essential teammates who continue working during this period will participate in salary reductions. Additionally, the Company previously announced that both its Chairman and its President and Chief Executive Officer elected to forgo their salary until such time as normal business operations resume. Similarly, the Company’s Board of Directors elected to forgo their respective quarterly cash retainers for the current quarter.
The full text of the press release is furnished as Exhibit 99.1 to this report.
ITEM 9.01(d). Exhibits
Exhibit 99.1 Press Release Dated March 31, 2020
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| The Buckle, Inc. | ||
|---|---|---|
| Date: March 31, 2020 | By: | /s/ THOMAS B. HEACOCK |
| Name: Thomas B. Heacock | ||
| Title: Senior Vice President of Finance, | ||
| Treasurer and Chief Financial Officer |
EXHIBIT INDEX
| Exhibit 99.1 | Press Release Dated March 31, 2020 |
|---|
Exhibit
Exhibit 99.1
 |
The Buckle, Inc. |
|---|---|
| 2407 W. 24^th^ St. Kearney, NE 68845 | |
| P.O. Box 1480 Kearney, NE 68848-1480 | |
| phone: 308-236-8491 | |
| fax: 308-236-4493 | |
| For Immediate Release: March 31, 2020 | web: www.buckle.com |
| Contact: | Thomas B. Heacock, Chief Financial Officer |
| --- | --- |
| The Buckle, Inc. | |
| (308) 236-8491 |
THE BUCKLE, INC. PROVIDES UPDATE REGARDING CLOSURE
OF STORES AS PART OF COVID-19 RESPONSE
KEARNEY, NE -- The Buckle, Inc. (NYSE: BKE) announced today that after thoughtful consideration of the health and welfare of its guests, teammates, and communities, it will extend the closure of all brick and mortar stores indefinitely. The Company’s online store at buckle.com will remain open. Company management will continue to monitor as additional guidance is issued from the Center for Disease Control along with U.S. and local governments as it develops plans to open stores at a future date.
Given the uncertainty regarding the potential length and severity of the pandemic as well as the potential impact to the Company, the Company will furlough the majority of its store and corporate office teammates effective April 5, 2020. During the furlough period, the Company will continue to provide full benefits for participating teammates. All essential teammates who continue working during this period will participate in salary reductions. Additionally, the Company previously announced that both its Chairman and its President and Chief Executive Officer elected to forgo their salary until such time as normal business operations resume. Similarly, the Company’s Board of Directors elected to forgo their respective quarterly cash retainers for the current quarter.
About Buckle
Offering a unique mix of high-quality, on-trend apparel, accessories, and footwear, Buckle caters to fashion-conscious young men and women. Known as a denim destination, each store carries a wide selection of fits, styles, and finishes from leading denim brands, including the Company’s exclusive brand, BKE. Headquartered in Kearney, Nebraska, Buckle currently operates 446 retail stores in 42 states.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: All forward-looking statements made by the Company involve material risks and uncertainties and are subject to change based on factors which may be beyond the Company's control. Accordingly, the Company’s future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, but are not limited to, those described in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.
News releases and other information about The Buckle, Inc., can be
found on the Internet at www.buckle.com