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Buckle's Dismal Comps Trend Continues, August Sales Fall
The Buckle, Inc. (BKE - Free Report) has been continuing with its sluggish comparable-store sales (comps) performance this year. Comps for the four-week period ended Aug 27, 2016, fell 14.8% year over year, continuing the trend of decline – 10.9% in July, 10.6% in June, 11% in May, 13.2% in April, 11.8% in March, 8.9% in February and 11.3% in January.
This Zacks Rank #4 (Sell) company generated net sales of $87.2 million in August, down 14% year over year. We note that net sales decreased 9.8% in July, 10.1% in June, 10.4% in May, 12.3% in April, 11% in March, 7.7% in February and 10.1% in January.
Sales at the company’s Men's category tumbled 7% year over year. This category contributed nearly 48.5% to Buckle’s August sales. Sales in the Women’s category, which represented 51.5% of the company’s monthly sales, declined 19% year over year. Buckle has not been able to turn the performance of its struggling Women’s business around.
On a combined basis, accessory sales, which constituted nearly 9% of the company’s August sales, fell 11.5%, while footwear sales, which accounted for almost 5% of net sales, plunged 14.5%.
Comps for the 30-week period ended Aug 27, 2016, slumped 11.6%, while net sales over the same time frame fell 10.8% to $542.9 million from $608.8 million recorded in the year-ago period.
BUCKLE INC Price, Consensus and EPS Surprise
BUCKLE INC Price, Consensus and EPS Surprise | BUCKLE INC Quote
As of Sep 1, 2016, Buckle operated 470 retail stores across 44 states.
Apart from Buckle, The Gap, Inc. (GPS - Free Report) and The Cato Corporation (CATO - Free Report) recorded comps declines of 3% and 8%, respectively. On the other hand, L Brands, Inc. registered an increase of 2% in comps.
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