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The Buckle, Inc. Message Board

  • nsthil nsthil Mar 3, 2010 5:24 AM Flag

    New distribution centre to increase cap ex

    by $27 million with most of that coming in the first and second qtr. This will be a drag at a time when they are also experiencing lower sss and overall sales results. Did not help that they have 11% of their stores in Texas and that state just experienced close to record breaking cold temps and snowfalls right thru February.

    "We broke ground on the 240,000 square foot facility in September 2009 and are targeting a completion date of July 2010, at which point the new distribution center will replace our current distribution center. The total cost of the new distribution center is expected to be in the range of approximately $25 - $27 million, with the majority of the capital spending occurring in fiscal 2010.
    We also plan to spend approximately $3.5 million in fiscal 2010 replacing our point-of-sale software and hardware. This change will allow us to replace our current loyalty program (which is a manual punch card) to an enhanced electronic loyalty program, making it easier for guests to take advantage of the program and providing us with more useful information about our guests. The change will also enable us to take pin-based debit as a form of tender.
    We will provide an update on these and any other planned capital projects during our fourth quarter earnings conference call. We currently expect fiscal 2010 capital expenditures to be in the range of $65 – $70 million, and as you can see based on the current list of projects we are continuing to plan and build for the future."

21.00-0.40(-1.87%)Oct 27 4:02 PMEDT