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I often find that Royce owns shares in companies that meet my investment criteria. The ownership percentage for Mr. There is a paucity of public information on Mr. He has established the Hirschfeld Family Foundation for charitable contributions and has a made a few political contributions. I see no evidence of other family members involved in the business.
From what I see he remains very involved in the business and there is no reason to expect that he would seek to sell the company in the near future. If others see find further information on this topic, that would be of interest.
Summary This is a company with strong management and time tested strategies. Expansion is carefully orchestrated with specific profit targets. The high level of insider ownership acts to align management and shareholder interests. The importance of Mr. Hirschfeld as the key manager and largest shareholder is noted. Any information regarding him and future plans should be of key interest to shareholders. Cover Letter Templates Choose cover letter template and write your cover letter.
Create my resume now. Resources Online resources to advance your career and business. Business Marketing, Sales, Product, Finance, and more. Personal development Productivity, Mindfulness, Health, and more. The Buckle, Inc. Home Companies The Buckle, Inc. Business model of The Buckle, Inc. Customer Segments Buckle offers a wide range of apparel products and accessories across its network of stores and ecommerce portals. The bulk of these customers fall into one or more of the following categories: Younger Consumers , primarily comprising consumers aged between 15 and 30; Middle and Higher Income Consumers , comprising consumers who fall into the middle income or higher income brackets and have a larger amount of disposable income to spend on clothing and accessories; and Fashion Conscious Consumers , comprising consumers who are interested in fashion and are comfortable spending more money on clothes that for individual style or taste.
Channels Buckle employs an omni-channel sales network, serving its customers directly via its network of physical retail outlets, as well as online through its own ecommerce portal. Customer Relationships Buckle serves its customers directly in-store, and on a self-service basis through its online shop.
Key Activities Buckle operates as a retailer of casual apparel, footwear and accessories for young men and women. Buckle is headquartered in Kearney, Nebraska. Key Partners Buckle partners with a network of companies and organizations in support of its core manufacturing and retail activities. Cost Structure Buckle incurs costs in relation to the operation of its store network — including occupancy and utility costs, the procurement of materials and equipment, the procurement of third party manufacturing and distribution services, the operation and maintenance of its online store, the development and maintenance of its IT and communications infrastructure, the development and implementation of marketing and branding campaigns, the management of its partnerships, and the payment of salaries and benefits to its workforce.
Each outlet employs, in addition to the store manager, up to two assistant managers, between one and three full-time salespeople, and a staff of part-time salespeople as store volume and season demands. A seamstress also works on-site at most Buckle outlets as part of a team of dedicated personnel. None of the company's employees are represented by a union.
In addition to recruiting new managers from college campuses, The Buckle has traditionally held with the policy of promoting people from within company ranks: in Daniel J. Hirschfeld, who had been with the company since , became company president and CEO; while Dennis Nelson, company president since when Hirschfeld relinquished one of his two titles and its accordant responsibilities , first joined The Buckle in as a part-time sales staffer.
Within its sales management team alone the company could boast almost 90 years of combined Buckle experience by The company has continued to rely upon the expertise of its employee team, not only in terms of day-to-day operations at individual outlets, but in overall buying decisions as well.
Management was quick to recognize an understanding of future fashion trends as crucial to the continued health of their business, and has consistently solicited the recommendations of store managers in such decisions due to their daily contact with customers. The Buckle's strategy for expanding its retail market was to target high-traffic shopping malls near large universities and colleges or in economically vital cities with more than 20, residents. Particularly because of its reliance on college-aged consumers, business has traditionally been seasonal, with highest sales levels occurring during the periods November December 30 and July September 1.
These two periods have combined to generate approximately 40 percent of the company's sales on an annual basis. Because of such high start-up costs, new store openings were scheduled to coincide with The Buckle's two busiest seasons.
Most new stores became profitable within the first year of operation. Marketing to its new and existing customer base was done through both local radio and newspaper and via direct mail using a list generated through The Buckle Club, an in-store signup that boasts over , "members. As expansion efforts increased, so did The Buckle's financial leverage. And in The Buckle opened an additional six new outlets, while also beginning to alter its product mix with the inclusion of more higher-end clothing items.
In The Buckle got a new look, with redesigned store layouts, enhanced lighting arrays, and new fixtures that presented a more modern, forward-looking attitude. Beginning a five-year renovation schedule to update its older stores to appeal to savvy college-aged consumers, each of the company's newest outlets would boast this new look.
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