The Buckle, Inc. (BKE) 10-Q 11 Jun 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	May 02, 2020	Jun. 05, 2020
Document Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	May 2, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Trading Symbol	BKE
Title of 12(b) Security	Common Stock, $0.01 par value
Entity Registrant Name	BUCKLE INC
Entity Central Index Key	0000885245
Current Fiscal Year End Date	--01-30
Entity Filer Category	Accelerated Filer
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		49,408,181

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	May 02, 2020	Feb. 01, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 185,037	$ 220,969
Short-term investments	17,661	12,532
Receivables	1,774	3,136
Inventory	121,671	121,258
Prepaid expenses and other assets	13,438	20,935
Total current assets	339,581	378,830
PROPERTY AND EQUIPMENT	451,142	452,205
Less accumulated depreciation and amortization	(341,073)	(338,357)
PROPERTY AND EQUIPMENT, Net	110,069	113,848
OPERATING LEASE RIGHT-OF-USE ASSETS	326,587	350,088
LONG-TERM INVESTMENTS	15,922	15,863
OTHER ASSETS	9,491	9,261
Total assets	801,650	867,890
CURRENT LIABILITIES:
Accounts payable	19,212	26,491
Accrued employee compensation	5,310	22,929
Accrued store operating expenses	15,927	17,837
Gift certificates redeemable	13,513	15,319
Current portion of operating lease liabilities	84,410	87,314
Income taxes payable	72	2,751
Total current liabilities	138,444	172,641
DEFERRED COMPENSATION	15,204	15,863
NON-CURRENT OPERATING LEASE LIABILITIES	270,053	290,238
Total liabilities	423,701	478,742
COMMITMENTS
STOCKHOLDERS’ EQUITY:
Common stock, authorized 100,000,000 shares of $.01 par value; 49,408,181 and 49,205,681 shares issued and outstanding at May 2, 2020 and February 1, 2020, respectively	494	492
Additional paid-in capital	152,841	152,258
Retained earnings	224,614	236,398
Total stockholders’ equity	377,949	389,148
Total liabilities and stockholders' equity	$ 801,650	$ 867,890

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	May 02, 2020	Feb. 01, 2020
Statement of Financial Position [Abstract]
Common stock, authorized (shares)	100,000,000	100,000,000
Common stock, par value (dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (shares)	49,408,181	49,205,681
Common stock, shares outstanding (shares)	49,408,181	49,205,681

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Income Statement [Abstract]
SALES, Net of returns and allowances	$ 115,413	$ 201,313
COST OF SALES (Including buying, distribution, and occupancy costs)	88,588	124,660
Gross profit	26,825	76,653
OPERATING EXPENSES:
Selling	33,504	46,609
General and administrative	9,503	11,310
Total selling, general and administrative expenses	43,007	57,919
INCOME (LOSS) FROM OPERATIONS	(16,182)	18,734
OTHER INCOME, Net	574	1,255
INCOME (LOSS) BEFORE INCOME TAXES	(15,608)	19,989
INCOME TAX EXPENSE (BENEFIT)	(3,824)	4,897
NET INCOME (LOSS)	$ (11,784)	$ 15,092
EARNINGS (LOSS) PER SHARE:
Basic (dollars per share)	$ (0.24)	$ 0.31
Diluted (dollars per share)	$ (0.24)	$ 0.31
Basic weighted average shares	48,725	48,552
Diluted weighted average shares	48,922	48,734

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings
BALANCE (shares) at Feb. 02, 2019		49,017,395
BALANCE at Feb. 02, 2019	$ 393,877	$ 490	$ 148,564	$ 244,823
Increase (Decrease) in Stockholders' Equity [Roll Forward]
NET INCOME (LOSS)	15,092			15,092
Dividends paid on common stock	(12,309)			(12,309)
Issuance of non-vested stock, net of forfeitures (shares)		214,230
Issuance of non-vested stock, net of forfeitures		$ 2	(2)
Amortization of non-vested stock grants, net of forfeitures	1,298		1,298
BALANCE (shares) at May. 04, 2019		49,231,625
BALANCE at May. 04, 2019	397,958	$ 492	149,860	247,606
BALANCE (shares) at Feb. 01, 2020		49,205,681
BALANCE at Feb. 01, 2020	389,148	$ 492	152,258	236,398
Increase (Decrease) in Stockholders' Equity [Roll Forward]
NET INCOME (LOSS)	(11,784)			(11,784)
Issuance of non-vested stock, net of forfeitures (shares)		227,500
Issuance of non-vested stock, net of forfeitures		$ 2	(2)
Amortization of non-vested stock grants, net of forfeitures	957		957
Common stock purchased and retired (shares)		(25,000)
Common stock purchased and retired	(372)		(372)
BALANCE (shares) at May. 02, 2020		49,408,181
BALANCE at May. 02, 2020	$ 377,949	$ 494	$ 152,841	$ 224,614

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical)	3 Months Ended
	May 04, 2019$ / shares
Statement of Stockholders' Equity [Abstract]
Dividends paid on common stock, per share	$ 0.25

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME (LOSS)	$ (11,784)	$ 15,092
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation and amortization	5,484	6,180
Amortization of non-vested stock grants, net of forfeitures	957	1,298
Deferred income taxes	(230)	(311)
Other	41	52
Changes in operating assets and liabilities:
Receivables	1,859	235
Inventory	(413)	4,376
Prepaid expenses and other assets	7,497	(2,270)
Accounts payable	(6,953)	7,564
Accrued employee compensation	(17,619)	(9,816)
Accrued store operating expenses	(1,875)	2,597
Gift certificates redeemable	(1,806)	(2,372)
Income taxes payable	(3,176)	5,583
Other assets and liabilities	(282)	1,066
Net cash flows from operating activities	(28,300)	29,274
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(2,072)	(2,462)
Purchases of investments	(14,738)	(15,975)
Proceeds from sales/maturities of investments	9,550	16,940
Net cash flows from investing activities	(7,260)	(1,497)
CASH FLOWS FROM FINANCING ACTIVITIES:
Purchases of common stock	(372)	0
Payment of dividends	0	(12,309)
Net cash flows from financing activities	(372)	(12,309)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(35,932)	15,468
CASH AND CASH EQUIVALENTS, Beginning of period	220,969	168,471
CASH AND CASH EQUIVALENTS, End of period	$ 185,037	$ 183,939

Basis of Presentation

Basis of Presentation	3 Months Ended
	May 02, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments necessary for the fair presentation of the results of operations for the interim periods have been included. All such adjustments are of a normal recurring nature. Because of the seasonal nature of the business, results for interim periods are not necessarily indicative of a full year's operations. The accounting policies followed by the Company and additional footnotes are reflected in the consolidated financial statements for the fiscal year ended February 1, 2020 , included in The Buckle, Inc.'s 2019 Form 10-K. The condensed consolidated balance sheet as of February 1, 2020 is derived from audited financial statements. For purposes of this report, unless the context otherwise requires, all references herein to the “Company”, “Buckle”, “we”, “us”, or similar terms refer to The Buckle, Inc. and its subsidiary. The Company follows generally accepted accounting principles (“GAAP”) established by the Financial Accounting Standards Board (“FASB”). References to GAAP in these notes are to the FASB Accounting Standards Codification (“ASC”).

Revenues

Revenues	3 Months Ended
	May 02, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The Company is a retailer of medium to better priced casual apparel, footwear, and accessories for fashion conscious young men and women. The Company operates its business as one reportable segment. The Company sells its merchandise through its retail stores and e-Commerce platform. The Company had 446 stores located in 42 states throughout the United States as of May 2, 2020 and 449 stores in 42 states as of May 4, 2019 . During the thirteen week period ended May 2, 2020 , the Company did not open any new stores, substantially remodeled 1 store, and permanently closed 2 stores. During the thirteen week period ended May 4, 2019 , the Company did not open any new stores, substantially remodeled 1 store, and permanently closed 1 store. The Company temporarily closed all of its brick and mortar stores beginning March 18, 2020 to protect the health and welfare of its guests, teammates, and communities as a result of the COVID-19 pandemic. The Company began the process of reopening certain stores the week of April 26, 2020, following all appropriate federal, state, and local reopening guidelines. As of May 2, 2020, 37 stores had been reopened. The Company has continued to reopen stores each week and had reopened 397 of its 444 stores as of June 5, 2020. The store closings had a significant impact on the Company's revenue for the quarter, which was down $85,900 or 42.7% . The Company's online store remained open without interruption. For the thirteen week periods ended May 2, 2020 and May 4, 2019 , online revenues accounted for 27.8% and 12.1% , respectively, of the Company's net sales. No sales to an individual customer or country, other than the United States, accounted for more than 10% of net sales. The following is information regarding the Company’s major product lines, stated as a percentage of the Company’s net sales: Thirteen Weeks Ended Merchandise Group May 2, May 4, Denims 45.8 % 42.4 % Tops (including sweaters) 27.6 29.9 Footwear 8.5 7.4 Accessories 8.1 8.4 Sportswear/Fashions 6.6 8.8 Outerwear 1.0 0.9 Casual bottoms 0.9 1.2 Other 1.5 1.0 100.0 % 100.0 %

Earnings Per Share

Earnings Per Share	3 Months Ended
	May 02, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share data are based on the weighted average outstanding common shares during the period. Diluted earnings per share data are based on the weighted average outstanding common shares and the effect of all dilutive potential common shares. Thirteen Weeks Ended Thirteen Weeks Ended May 2, 2020 May 4, 2019 Net Income (Loss) Weighted Per Share Net Income (Loss) Weighted Per Share Basic EPS $ (11,784 ) 48,725 $ (0.24 ) $ 15,092 48,552 $ 0.31 Effect of Dilutive Securities: Non-vested shares — 197 — — 182 — Diluted EPS $ (11,784 ) 48,922 $ (0.24 ) $ 15,092 48,734 $ 0.31 (a) Shares in thousands.

Investments

Investments	3 Months Ended
	May 02, 2020
Schedule of Investments [Abstract]
Investments	Investments The following is a summary of investments as of May 2, 2020 : Amortized Cost or Par Value Gross Unrealized Gains Gross Unrealized Losses Other-than- Temporary Impairment Estimated Fair Value Held-to-Maturity Securities: State and municipal bonds $ 18,379 $ 67 $ (1 ) $ — $ 18,445 Trading Securities: Mutual funds $ 14,987 $ 217 $ — $ — $ 15,204 The following is a summary of investments as of February 1, 2020 : Amortized Cost or Par Value Gross Unrealized Gains Gross Unrealized Losses Other-than- Temporary Impairment Estimated Fair Value Held-to-Maturity Securities: State and municipal bonds $ 12,532 $ 13 $ (1 ) $ — $ 12,544 Trading Securities: Mutual funds $ 14,563 $ 1,300 $ — $ — $ 15,863 The amortized cost and fair value of debt securities by contractual maturity as of May 2, 2020 is as follows: Amortized Cost Fair Value Held-to-Maturity Securities Less than 1 year $ 17,661 $ 17,722 1 - 5 years 718 723 $ 18,379 $ 18,445 As of May 2, 2020 , $718 of held-to-maturity securities are classified in long-term investments. As of February 1, 2020 , all of the Company's investments in held-to-maturity securities are classified in short-term investments. Trading securities are held in a Rabbi Trust, intended to fund the Company’s deferred compensation plan, and are classified in long-term investments.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	May 02, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets and liabilities measured and reported at fair value are classified and disclosed in one of the following categories: • Level 1 – Quoted market prices in active markets for identical assets or liabilities. Short-term and long-term investments with active markets or known redemption values are reported at fair value utilizing Level 1 inputs. • Level 2 – Observable market-based inputs (either directly or indirectly) such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or inputs that are corroborated by market data. • Level 3 – Unobservable inputs that are not corroborated by market data and are projections, estimates, or interpretations that are supported by little or no market activity and are significant to the fair value of the assets. As of May 2, 2020 and February 1, 2020 , the Company held certain assets that are required to be measured at fair value on a recurring basis including its investments in trading securities. The Company’s financial assets measured at fair value on a recurring basis are as follows: Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs May 2, 2020 (Level 1) (Level 2) (Level 3) Total Trading securities (including mutual funds) $ 15,204 $ — $ — $ 15,204 Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs February 1, 2020 (Level 1) (Level 2) (Level 3) Total Trading securities (including mutual funds) $ 15,863 $ — $ — $ 15,863 Securities included in Level 1 represent securities which have publicly traded quoted prices. The carrying value of cash equivalents approximates fair value due to the low level of risk these assets present and their relatively liquid nature, particularly given their short maturities. The Company also holds certain financial instruments that are not carried at fair value on the condensed consolidated balance sheets, including held-to-maturity securities. Held-to-maturity securities consist primarily of state and municipal bonds. The fair values of these debt securities are based on quoted market prices and yields for the same or similar securities, which the Company determined to be Level 2 inputs. As of May 2, 2020 , the fair value of held-to-maturity securities was $18,445 compared to the carrying amount of $18,379 . As of February 1, 2020 , the fair value of held-to-maturity securities was $12,544 compared to the carrying amount of $12,532 . The carrying values of receivables, accounts payable, accrued expenses, and other current liabilities approximates fair value because of their short-term nature. From time to time, the Company measures certain assets at fair value on a non-recurring basis, specifically long-lived assets evaluated for impairment. These are typically store specific assets, which are reviewed for impairment when circumstances indicate impairment may exist due to the questionable recoverability of the carrying values of long-lived assets. If expected future cash flows related to a store’s assets are less than their carrying value, an impairment loss would be recognized for the difference between the carrying value and the estimated fair value of the store's assets. The fair value of the store's assets is estimated utilizing an income-based approach based on the expected cash flows over the remaining life of the store's lease. Given the substantial reduction in the Company's sales (and the related impact on cash flow projections) as a result of store closures due to the COVID-19 pandemic, an impairment assessment was triggered for certain stores. This analysis resulted in $1,000 of store-related asset impairment charges in the first quarter of fiscal 2020. There was no impairment related to long-lived assets for all other prior periods presented.

Leases

Leases	3 Months Ended
	May 02, 2020
Leases [Abstract]
Leases	Leases The Company's lease portfolio is primarily comprised of leases for retail store locations. The Company also leases certain equipment and corporate office space. Store leases for new stores typically have an initial term of 10 years, with options to renew for an additional 1 to 5 years. The exercise of lease renewal options is at the Company's sole discretion and is included in the lease term for calculations of its right-of-use assets and liabilities when it is reasonably certain that the Company plans to renew these leases. Certain store lease agreements include rental payments based on a percentage of retail sales over contractual levels and others include rental payments adjusted periodically for inflation. Lease agreements do not contain any residual value guarantees, material restrictive covenants, or options to purchase the leased property. The Company has elected to apply the practical expedient to account for lease components (e.g. fixed payments for rent, insurance, and real estate taxes) and nonlease components (e.g. fixed payments for common area maintenance) together as a single component for all underlying asset classes. Additionally, the Company elected as an accounting policy to exclude short-term leases from the recognition requirements. Given the store closures resulting from the COVID-19 pandemic, the Company paid essentially full rent for the month of April but was then able to negotiate substantial rent deferrals for May and June. Consistent with guidance in the FASB Staff Q&A regarding lease concessions related to the effects of the COVID-19 pandemic, the Company has made the election to treat all lease concessions as though the enforceable rights and obligations existed in each contract and, therefore, will not apply the lease modification guidance in ASC 842. As such, these deferrals had no impact to rent expense during the quarter. Amounts deferred and payable in future periods have been included in "accounts payable" on the Company's condensed consolidated balance sheets Lease expense is included in cost of sales in the condensed consolidated statements of income. The components of total lease cost are as follows: Thirteen Weeks Ended May 2, May 4, Operating lease cost $ 24,590 $ 21,546 Variable lease cost (a) 4,489 9,244 Total lease cost $ 29,079 $ 30,790 (a) Includes variable payments related to both lease and non-lease components, such as contingent rent payments based on performance and payments related to taxes, insurance, and maintenance costs. Also includes payments related to short-term leases with periods of less than twelve months. Supplemental cash flow information related to leases is as follows: Thirteen Weeks Ended May 2, May 4, Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 25,035 $ 21,519 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 3,380 $ 418 The Company uses its incremental borrowing rate as the discount rate to determine the present value of lease payments. As of May 2, 2020 , the weighted-average remaining lease term was 5.0 years and the weighted-average discount rate was 3.8% . The table below reconciles undiscounted future lease payments (e.g. fixed payments for rent, insurance, real estate taxes, and common area maintenance) for each of the next five fiscal years and the total of the remaining years to the operating lease liabilities recorded on the condensed consolidated balance sheet as of May 2, 2020 : Fiscal Year Operating Leases (a) 2020 (remaining) $ 74,854 2021 85,132 2022 72,206 2023 59,135 2024 44,380 Thereafter 54,769 Total lease payments 390,476 Less: Imputed interest 36,013 Total operating lease liability $ 354,463 (a) Operating lease payments exclude $756 of legally binding minimum lease payments for leases signed, but not yet commenced.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	May 02, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information The Company had non-cash investing activities during the thirteen week periods ended May 2, 2020 and May 4, 2019 of $326 and $39 , respectively. The non-cash investing activity relates to the change in the balance of unpaid purchases of property, plant, and equipment included in accounts payable as of the end of the period. The liability for unpaid purchases of property, plant, and equipment included in accounts payable was $233 and $559 as of May 2, 2020 and February 1, 2020 , respectively. Amounts reported as unpaid purchases are recorded as cash outflows from investing activities for purchases of property, plant, and equipment in the condensed consolidated statement of cash flows in the period they are paid. Additional cash flow information for the Company includes cash paid/(refunds received) for income taxes during the thirteen week periods ended May 2, 2020 and May 4, 2019 of $(418) and $(374) , respectively.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	May 02, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company has several stock option plans which allow for granting of stock options to employees, executives, and directors. The Company has not granted any stock options since fiscal 2008 and there are currently no stock options outstanding. The Company also has a restricted stock plan that allows for the granting of non-vested shares of common stock to employees and executives and a restricted stock plan that allows for the granting of non-vested shares of common stock to non-employee directors. As of May 2, 2020 , 641,353 shares were available for grant under the Company’s various restricted stock plans, of which 631,792 shares were available for grant to executive officers. Compensation expense was recognized during fiscal 2020 and fiscal 2019 for equity-based grants, based on the grant date fair value of the awards. The fair value of grants of non-vested common stock awards is the stock price on the date of grant. Information regarding the impact of compensation expense related to grants of non-vested shares of common stock is as follows: Thirteen Weeks Ended May 2, May 4, Stock-based compensation expense, before tax $ 957 $ 1,298 Stock-based compensation expense, after tax $ 723 $ 980 Non-vested shares of common stock granted during the thirteen week periods ended May 2, 2020 and May 4, 2019 were granted pursuant to the Company’s 2005 Restricted Stock Plan and the Company’s 2008 Director Restricted Stock Plan. Shares granted under the 2005 Plan are typically "performance based" and vest over a period of four years , only upon certification by the Compensation Committee of the Board of Directors that the Company has achieved its pre-established performance targets for the fiscal year. Certain shares granted under the 2005 Plan, however, are "non-performance based" and vest over a period of four years without being subject to the achievement of performance targets. Shares granted under the 2008 Director Plan vest 25% on the date of grant and then in equal portions on each of the first three anniversaries of the date of grant. A summary of the Company’s stock-based compensation activity related to grants of non-vested shares of common stock for the thirteen week period ended May 2, 2020 is as follows: Shares Weighted Average Grant Date Fair Value Non-Vested - beginning of year 507,863 $ 18.23 Granted 370,600 24.41 Forfeited (143,100 ) 17.38 Vested (40,806 ) 18.35 Non-Vested - end of quarter 694,557 $ 21.70 As of May 2, 2020 , there was $5,270 of unrecognized compensation expense related to grants of non-vested shares. It is expected that this expense will be recognized over a weighted average period of approximately 2.1 years . The total fair value of shares vested during the thirteen week periods ended May 2, 2020 and May 4, 2019 was $739 and $668 , respectively. During the thirteen week period ended May 2, 2020 , 143,100 shares (representing one-half of the "performance based" shares granted during fiscal 2019 under the 2005 Restricted Stock Plan) were forfeited because the Company did not achieve all of the performance targets established for the fiscal 2019 grants.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	3 Months Ended
	May 02, 2020
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to Disclosure Requirements for Fair Value Measurement, which modifies the disclosure requirements for fair value investments. The amendments are effective for all entities for annual and interim periods in fiscal years beginning after December 15, 2019. This ASU did not have a material impact on the Company's condensed consolidated financial statements for the thirteen week period ended May 2, 2020 .

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	May 02, 2020
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments necessary for the fair presentation of the results of operations for the interim periods have been included. All such adjustments are of a normal recurring nature. Because of the seasonal nature of the business, results for interim periods are not necessarily indicative of a full year's operations. The accounting policies followed by the Company and additional footnotes are reflected in the consolidated financial statements for the fiscal year ended February 1, 2020 , included in The Buckle, Inc.'s 2019 Form 10-K. The condensed consolidated balance sheet as of February 1, 2020 is derived from audited financial statements. For purposes of this report, unless the context otherwise requires, all references herein to the “Company”, “Buckle”, “we”, “us”, or similar terms refer to The Buckle, Inc. and its subsidiary. The Company follows generally accepted accounting principles (“GAAP”) established by the Financial Accounting Standards Board (“FASB”). References to GAAP in these notes are to the FASB Accounting Standards Codification (“ASC”).

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	May 02, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Product Information	The following is information regarding the Company’s major product lines, stated as a percentage of the Company’s net sales: Thirteen Weeks Ended Merchandise Group May 2, May 4, Denims 45.8 % 42.4 % Tops (including sweaters) 27.6 29.9 Footwear 8.5 7.4 Accessories 8.1 8.4 Sportswear/Fashions 6.6 8.8 Outerwear 1.0 0.9 Casual bottoms 0.9 1.2 Other 1.5 1.0 100.0 % 100.0 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	May 02, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic earnings per share data are based on the weighted average outstanding common shares during the period. Diluted earnings per share data are based on the weighted average outstanding common shares and the effect of all dilutive potential common shares. Thirteen Weeks Ended Thirteen Weeks Ended May 2, 2020 May 4, 2019 Net Income (Loss) Weighted Per Share Net Income (Loss) Weighted Per Share Basic EPS $ (11,784 ) 48,725 $ (0.24 ) $ 15,092 48,552 $ 0.31 Effect of Dilutive Securities: Non-vested shares — 197 — — 182 — Diluted EPS $ (11,784 ) 48,922 $ (0.24 ) $ 15,092 48,734 $ 0.31 (a) Shares in thousands.

Investments (Tables)

Investments (Tables)	3 Months Ended
	May 02, 2020
Schedule of Investments [Abstract]
Schedule of investments, cost and fair value	The following is a summary of investments as of May 2, 2020 : Amortized Cost or Par Value Gross Unrealized Gains Gross Unrealized Losses Other-than- Temporary Impairment Estimated Fair Value Held-to-Maturity Securities: State and municipal bonds $ 18,379 $ 67 $ (1 ) $ — $ 18,445 Trading Securities: Mutual funds $ 14,987 $ 217 $ — $ — $ 15,204 The following is a summary of investments as of February 1, 2020 : Amortized Cost or Par Value Gross Unrealized Gains Gross Unrealized Losses Other-than- Temporary Impairment Estimated Fair Value Held-to-Maturity Securities: State and municipal bonds $ 12,532 $ 13 $ (1 ) $ — $ 12,544 Trading Securities: Mutual funds $ 14,563 $ 1,300 $ — $ — $ 15,863
Schedule of amortized cost and fair value of debt securities by contractual maturity	The amortized cost and fair value of debt securities by contractual maturity as of May 2, 2020 is as follows: Amortized Cost Fair Value Held-to-Maturity Securities Less than 1 year $ 17,661 $ 17,722 1 - 5 years 718 723 $ 18,379 $ 18,445

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	May 02, 2020
Fair Value Disclosures [Abstract]
Financial assets measured at fair value on a recurring basis	The Company’s financial assets measured at fair value on a recurring basis are as follows: Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs May 2, 2020 (Level 1) (Level 2) (Level 3) Total Trading securities (including mutual funds) $ 15,204 $ — $ — $ 15,204 Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs February 1, 2020 (Level 1) (Level 2) (Level 3) Total Trading securities (including mutual funds) $ 15,863 $ — $ — $ 15,863

Leases (Tables)

Leases (Tables)	3 Months Ended
	May 02, 2020
Leases [Abstract]
Components of total lease cost	Lease expense is included in cost of sales in the condensed consolidated statements of income. The components of total lease cost are as follows: Thirteen Weeks Ended May 2, May 4, Operating lease cost $ 24,590 $ 21,546 Variable lease cost (a) 4,489 9,244 Total lease cost $ 29,079 $ 30,790 (a) Includes variable payments related to both lease and non-lease components, such as contingent rent payments based on performance and payments related to taxes, insurance, and maintenance costs. Also includes payments related to short-term leases with periods of less than twelve months.
Supplemental cash flow information related to leases	Supplemental cash flow information related to leases is as follows: Thirteen Weeks Ended May 2, May 4, Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 25,035 $ 21,519 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 3,380 $ 418
Undiscounted future lease payment liabilities	The table below reconciles undiscounted future lease payments (e.g. fixed payments for rent, insurance, real estate taxes, and common area maintenance) for each of the next five fiscal years and the total of the remaining years to the operating lease liabilities recorded on the condensed consolidated balance sheet as of May 2, 2020 : Fiscal Year Operating Leases (a) 2020 (remaining) $ 74,854 2021 85,132 2022 72,206 2023 59,135 2024 44,380 Thereafter 54,769 Total lease payments 390,476 Less: Imputed interest 36,013 Total operating lease liability $ 354,463 (a) Operating lease payments exclude $756 of legally binding minimum lease payments for leases signed, but not yet commenced.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	May 02, 2020
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense	Information regarding the impact of compensation expense related to grants of non-vested shares of common stock is as follows: Thirteen Weeks Ended May 2, May 4, Stock-based compensation expense, before tax $ 957 $ 1,298 Stock-based compensation expense, after tax $ 723 $ 980
Summary of stock-based compensation activity related to grants of non-vested shares of common stock	A summary of the Company’s stock-based compensation activity related to grants of non-vested shares of common stock for the thirteen week period ended May 2, 2020 is as follows: Shares Weighted Average Grant Date Fair Value Non-Vested - beginning of year 507,863 $ 18.23 Granted 370,600 24.41 Forfeited (143,100 ) 17.38 Vested (40,806 ) 18.35 Non-Vested - end of quarter 694,557 $ 21.70

Revenues (Narrative) (Details)

Revenues (Narrative) (Details) $ in Thousands	3 Months Ended
	May 02, 2020USD ($)storestatesegment	May 04, 2019storestate	Jun. 05, 2020store
Product Information [Line Items]
Number of stores (store)	446	449
Percentage of net sales	100.00%	100.00%
Number of reportable segments (segment) | segment	1
Number of states in which stores are located (state) | state	42	42
New stores opened during the period (store)	0	0
Stores substantially remodeled during the period (store)	1	1
Stores closed during the period (store)	2	1
Revenue [Member] | Online revenues [Member]
Product Information [Line Items]
Revenue segment greater than 10 percent	27.80%	12.10%
COVID-19 [Member]
Product Information [Line Items]
Reopened stores	37
Impact on revenue | $	$ (85,900)
Impact on revenue, percentage	(42.70%)
Subsequent Event [Member]
Product Information [Line Items]
Number of stores (store)			444
Subsequent Event [Member] | COVID-19 [Member]
Product Information [Line Items]
Reopened stores			397

Revenues (Information Regarding

Revenues (Information Regarding Major Product Lines) (Details)	3 Months Ended
	May 02, 2020	May 04, 2019
Product Information [Line Items]
Percentage of net sales	100.00%	100.00%
Denims [Member]
Product Information [Line Items]
Percentage of net sales	45.80%	42.40%
Tops (including sweaters) [Member]
Product Information [Line Items]
Percentage of net sales	27.60%	29.90%
Footwear [Member]
Product Information [Line Items]
Percentage of net sales	8.50%	7.40%
Accessories [Member]
Product Information [Line Items]
Percentage of net sales	8.10%	8.40%
Sportswear / Fashions [Member]
Product Information [Line Items]
Percentage of net sales	6.60%	8.80%
Outerwear [Member]
Product Information [Line Items]
Percentage of net sales	1.00%	0.90%
Casual Bottoms [Member]
Product Information [Line Items]
Percentage of net sales	0.90%	1.20%
Other [Member]
Product Information [Line Items]
Percentage of net sales	1.50%	1.00%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Income
Basic EPS, Income (Loss)	$ (11,784)	$ 15,092
Effect of dilutive non-vested shares, Income (Loss)	0	0
Diluted EPS, Income (Loss)	$ (11,784)	$ 15,092
Weighted Average Shares
Basic EPS, Weighted Average Shares (shares)	48,725	48,552
Effect of dilutive non-vested shares, Weighted Average Shares (shares)	197	182
Diluted EPS, Weighted Average Shares (shares)	48,922	48,734
Per Share Amount
Basic EPS, Per Share Amount (dollars per share)	$ (0.24)	$ 0.31
Effect of dilutive non-vested shares, Per Share Amount (dollars per share)	0	0
Diluted EPS, Per Share Amount (dollars per share)	$ (0.24)	$ 0.31

Investments (Schedule of Invest

Investments (Schedule of Investments) (Details) - USD ($) $ in Thousands	May 02, 2020	Feb. 01, 2020
Held-to-maturity Securities [Abstract]
Held-to-Maturity Securities, Amortized Cost or Par Value	$ 18,379	$ 12,532
Held-to-Maturity Securities, Gross Unrealized Gains	67	13
Held-to-Maturity Securities, Gross Unrealized Losses	(1)	(1)
Held-to-Maturity Securities, Other-than-Temporary Impairment	0	0
Held-to-Maturity Securities, Estimated Fair Value	18,445	12,544
State and municipal bonds [Member]
Held-to-maturity Securities [Abstract]
Held-to-Maturity Securities, Amortized Cost or Par Value	18,379	12,532
Held-to-Maturity Securities, Gross Unrealized Gains	67	13
Held-to-Maturity Securities, Gross Unrealized Losses	(1)	(1)
Held-to-Maturity Securities, Other-than-Temporary Impairment	0	0
Held-to-Maturity Securities, Estimated Fair Value	18,445	12,544
Mutual funds [Member]
Trading Securities [Abstract]
Trading Securities, Amortized Cost or Par Value	14,987	14,563
Trading Securities, Gross Unrealized Gains	217	1,300
Trading Securities, Gross Unrealized Losses	0	0
Trading Securities, Other-than-Temporary Impairment	0	0
Trading Securities, Estimated Fair Value	$ 15,204	$ 15,863

Investments (Held-To-Maturity S

Investments (Held-To-Maturity Securities) (Details) - USD ($) $ in Thousands	May 02, 2020	Feb. 01, 2020
Contractual maturities of held-to-maturity securities, at amortized cost:
Less than 1 year, Amortized Cost	$ 17,661
1 - 5 years, Amortized Cost	718
Held-to-Maturity Securities, Amortized Cost	18,379
Contractual maturities of held-to-maturity securities, at fair values:
Less than 1 year, Fair Value	17,722
1 - 5 years, Fair Value	723
Held-to-Maturity Securities, Estimated Fair Value	$ 18,445	$ 12,544

Investments (Narrative) (Detail

Investments (Narrative) (Details) $ in Thousands	May 02, 2020USD ($)
Schedule of Investments [Line Items]
Long-term investment, held-to-maturity securities	$ 718

Fair Value Measurements (Recurr

Fair Value Measurements (Recurring Basis) (Details) - Mutual funds [Member] - USD ($) $ in Thousands	May 02, 2020	Feb. 01, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities (including mutual funds)	$ 15,204	$ 15,863
Fair Value Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities (including mutual funds)	15,204	15,863
Fair Value Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities (including mutual funds)	15,204	15,863
Fair Value Measurements, Recurring [Member] | Significant Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities (including mutual funds)	0	0
Fair Value Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities (including mutual funds)	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($)	3 Months Ended
	May 02, 2020	Feb. 01, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity securities, fair value	$ 18,445,000	$ 12,544,000
Held-to-maturity securities, carrying value	18,379,000	$ 12,532,000
COVID-19 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed asset impairment charges	$ 1,000

Leases (Narrative) (Details)

Leases (Narrative) (Details)	May 02, 2020
Lessee, Lease, Description [Line Items]
Store lease, typical initial term	10 years
Operating lease, weighted average remaining lease term	5 years
Operating lease, weighted average discount rate	3.80%
Minimum [Member]
Lessee, Lease, Description [Line Items]
Store lease, typical renewal term	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Store lease, typical renewal term	5 years

Leases (Components of total lea

Leases (Components of total lease cost) (Details) - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Leases [Abstract]
Operating lease cost	$ 24,590	$ 21,546
Variable lease cost	4,489	9,244
Total lease cost	$ 29,079	$ 30,790

Leases (Supplemental cash flow

Leases (Supplemental cash flow information related to leases) (Details) - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Leases [Abstract]
Operating cash flows from operating leases	$ 25,035	$ 21,519
Right-of-use assets obtained in exchange for operating lease liability	$ 3,380	$ 418

Leases (Undiscounted future lea

Leases (Undiscounted future lease payment liabilities) (Details) $ in Thousands	May 02, 2020USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Payments due remainder of fiscal year	$ 74,854
Payments due year two	85,132
Payments due year three	72,206
Payments due year four	59,135
Payments due year five	44,380
Payments due after year five	54,769
Total lease payments	390,476
Less: Imputed interest	36,013
Total operating lease liability	354,463
Total lease payments, leases signed not commenced	$ 756

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019	Feb. 01, 2020
Supplemental Cash Flow Elements [Abstract]
Non-cash investing activities - change in unpaid purchases of property, plant and equipment	$ 326	$ 39
Current liability for unpaid purchases of property, plant and equipment	233		$ 559
Cash paid/(refunds received) for income taxes	$ (418)	$ (374)

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - Restricted Stock [Member] - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (shares)	641,353
Unrecognized compensation expense	$ 5,270
Expected weighted average period of unrecognized compensation expense recognition (years)	2 years 1 month 6 days
Total fair value of shares vested	$ 739	$ 668
Forfeited (shares)	143,100
Director Restricted Stock Plan 2008 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vested description	Shares granted under the 2008 Director Plan vest 25% on the date of grant and then in equal portions on each of the first three anniversaries of the date of grant.
Vesting period (years)	3 years
Percentage of shares vesting annually (percent)	25.00%
Executive Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (shares)	631,792
Performance Based Grant [Member] | Restricted Stock Plan 2005 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vested description	Shares granted under the 2005 Plan are typically "performance based" and vest over a period of four years, only upon certification by the Compensation Committee of the Board of Directors that the Company has achieved its pre-established performance targets for the fiscal year.
Vesting period (years)	4 years
Forfeited (shares)	143,100
Non-Performance Based Grant [Member] | Restricted Stock Plan 2005 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vested description	Certain shares granted under the 2005 Plan, however, are "non-performance based" and vest over a period of four years without being subject to the achievement of performance targets.
Vesting period (years)	4 years

Stock-Based Compensation (Compe

Stock-Based Compensation (Compensation Expenses) (Details) - Restricted Stock [Member] - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, before tax	$ 957	$ 1,298
Stock-based compensation expense, after tax	$ 723	$ 980

Stock-Based Compensation (Non-v

Stock-Based Compensation (Non-vested Shares) (Details) - Restricted Stock [Member]	3 Months Ended
	May 02, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-Vested - beginning of year (shares) | shares	507,863
Granted (shares) | shares	370,600
Forfeited (shares) | shares	(143,100)
Vested (shares) | shares	(40,806)
Non-Vested - end of quarter (shares) | shares	694,557
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Non-Vested - beginning of year, Weighted Average Grant Date Fair Value (dollars per share) | $ / shares	$ 18.23
Granted, Weighted Average Grant Date Fair Value (dollars per share) | $ / shares	24.41
Forfeited, Weighted Average Grant Date Fair Value (dollars per share) | $ / shares	17.38
Vested, Weighted Average Grant Date Fair Value (dollars per share) | $ / shares	18.35
Non-Vested - end of quarter, Weighted Average Grant Date Fair Value (dollars per share) | $ / shares	$ 21.70