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Buckle's (BKE) Soft Comparable Sales Continue to Hurt Stock
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The Buckle, Inc. (BKE - Free Report) has been continuing with its sluggish comparable-store sales (comps) performance. Comps for the four-week period ended Jan 28, 2017, fell 17.6% year over year, continuing the declining trend – 15.5% in December, 16.2% in November, 15.5% in both October and September, 14.8% in August, 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.
The company generated net sales of $43.9 million in January, down 17.2% year over year. Notably, net sales decreased 15.1% in December, 15.9% in November, 15.1% in October, 14.8% in September, 14% in August, 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.
Further, Buckle’s disappointing performance was visible from its dismal run in the index. Shares of this retailer of casual apparel, footwear and accessories have declined 28.7% in the past one year compared with the Zacks Categorized Retail-Apparel/Shoe industry that witnessed a decrease of 11.1% in the same time frame.
Sales at the company’s Men's category, which contributed nearly 47.5% to Buckle’s January sales, tumbled 11% year over year. Moreover, the company has not been able to turn the performance of its struggling Women’s business around. Sales in the Women’s category, which represented 52.5% of the company’s monthly sales, slumped 21.5% year over year.
On a combined basis, accessory sales, which constituted nearly 8% of the company’s January sales, dropped 17.5%, while footwear sales, which accounted for almost 5% of net sales, plunged 21.5%.
Comps for the 13-week period ended Jan 28, 2017, declined 16.1%, while net sales in the period decreased 15.7% to $280 million from $332 million reported in the year-ago period.
As of Feb 2, 2017, Buckle operated 465 retail stores across 44 states.
Apart from Buckle, Costco Wholesale Corporation (COST - Free Report) , Zumiez Inc. (ZUMZ - Free Report) and L Brands, Inc. came out with their comparable sales results for the month of January. While comparable sales for Costco and Zumiez increased 7% and 9.4%, respectively, that of L Brands declined 4%.
Buckle currently carries a Zacks Rank #5 (Strong Sell).
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Buckle's (BKE) Soft Comparable Sales Continue to Hurt Stock
The Buckle, Inc. (BKE - Free Report) has been continuing with its sluggish comparable-store sales (comps) performance. Comps for the four-week period ended Jan 28, 2017, fell 17.6% year over year, continuing the declining trend – 15.5% in December, 16.2% in November, 15.5% in both October and September, 14.8% in August, 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.
The company generated net sales of $43.9 million in January, down 17.2% year over year. Notably, net sales decreased 15.1% in December, 15.9% in November, 15.1% in October, 14.8% in September, 14% in August, 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.
Further, Buckle’s disappointing performance was visible from its dismal run in the index. Shares of this retailer of casual apparel, footwear and accessories have declined 28.7% in the past one year compared with the Zacks Categorized Retail-Apparel/Shoe industry that witnessed a decrease of 11.1% in the same time frame.
Sales at the company’s Men's category, which contributed nearly 47.5% to Buckle’s January sales, tumbled 11% year over year. Moreover, the company has not been able to turn the performance of its struggling Women’s business around. Sales in the Women’s category, which represented 52.5% of the company’s monthly sales, slumped 21.5% year over year.
On a combined basis, accessory sales, which constituted nearly 8% of the company’s January sales, dropped 17.5%, while footwear sales, which accounted for almost 5% of net sales, plunged 21.5%.
Comps for the 13-week period ended Jan 28, 2017, declined 16.1%, while net sales in the period decreased 15.7% to $280 million from $332 million reported in the year-ago period.
As of Feb 2, 2017, Buckle operated 465 retail stores across 44 states.
Apart from Buckle, Costco Wholesale Corporation (COST - Free Report) , Zumiez Inc. (ZUMZ - Free Report) and L Brands, Inc. came out with their comparable sales results for the month of January. While comparable sales for Costco and Zumiez increased 7% and 9.4%, respectively, that of L Brands declined 4%.
Buckle currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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