Dennis H. Nelson, President and CEO of Buckle Inc. (NYSE:BKE), recently sold 20,453 shares of the company's common stock. The transaction, which took place on January 6, 2025, was executed at a price of $51.57 per share, amounting to a total sale value of approximately $1,054,779. The sale comes as Buckle maintains strong financial health with impressive gross margins of 59% and offers shareholders a substantial 7.7% dividend yield. According to InvestingPro analysis, the stock is currently trading near its Fair Value. This sale was conducted under a 10b5-1 trading plan, which Nelson adopted on April 24, 2024.
Following this transaction, Nelson holds 324,000 shares directly. Additionally, he has indirect ownership of 1,739,734 shares through a trust, 67,500 shares through his wife, 645.3 shares through a family trust, and 13,613.21 shares held by a 401(k) plan.
In other recent news, fashion retailer Buckle has reported a decrease in net income and sales for the third quarter of 2024. The company's net income fell to $44.2 million, a decline from $51.8 million during the same period the previous year. Net sales also experienced a drop, decreasing by 3.2% to $293.6 million. Despite a small increase in online sales and women's denim, the overall decline was driven by a decrease in men's merchandise and footwear sales. Buckle has announced 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. These are among the recent developments for Buckle, demonstrating a challenging period with a mix of positive and negative trends.
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