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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 sluggish comparable-store sales (comps) performance. Comps for the five-week period ended Apr 1, 2017 fell 10.1% year over year, continuing the declining trend – 23.2% in February, 17.6% in January, 15.5% in December, 16.2% in November, 15.5% in both October and September.
The company generated net sales of $86.8 million in March, down 10.1% year over year. Notably, net sales decreased 23.3% in February, 17.2% in January, 15.1% in December, 15.9% in November, 15.1% in October and 14.8% in September.
Comps for the 9-week period ended Apr 1, 2017 declined 16.1%, while net sales also decreased by an equivalent rate to $149.6 million.
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 plunged 38% in the past one year compared with the Zacks categorized Retail-Apparel/Shoe industry’s decline of 21.5%.
Sales at the company’s Men's category, which contributed nearly 47% to Buckle’s March sales, tumbled 6.5% year over year. Moreover, the company has not been able to turn the performance of struggling Women’s business around. Sales in the Women’s category, which represented 53% of the company’s monthly sales, slumped 12% year over year.
On a combined basis, accessory sales, which constituted nearly 8% of the company’s March sales, dropped 8%, while footwear sales, which accounted for almost 6.5% of net sales, plunged 15%.
As of Apr 6, 2017, Buckle operated 463 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 comparable sales results for the month of March. While comparable sales for Costco and Zumiez increased 6% and 1.1%, respectively, that of L Brands declined 10%.
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 sluggish comparable-store sales (comps) performance. Comps for the five-week period ended Apr 1, 2017 fell 10.1% year over year, continuing the declining trend – 23.2% in February, 17.6% in January, 15.5% in December, 16.2% in November, 15.5% in both October and September.
The company generated net sales of $86.8 million in March, down 10.1% year over year. Notably, net sales decreased 23.3% in February, 17.2% in January, 15.1% in December, 15.9% in November, 15.1% in October and 14.8% in September.
Comps for the 9-week period ended Apr 1, 2017 declined 16.1%, while net sales also decreased by an equivalent rate to $149.6 million.
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 plunged 38% in the past one year compared with the Zacks categorized Retail-Apparel/Shoe industry’s decline of 21.5%.
Sales at the company’s Men's category, which contributed nearly 47% to Buckle’s March sales, tumbled 6.5% year over year. Moreover, the company has not been able to turn the performance of struggling Women’s business around. Sales in the Women’s category, which represented 53% of the company’s monthly sales, slumped 12% year over year.
On a combined basis, accessory sales, which constituted nearly 8% of the company’s March sales, dropped 8%, while footwear sales, which accounted for almost 6.5% of net sales, plunged 15%.
As of Apr 6, 2017, Buckle operated 463 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 comparable sales results for the month of March. While comparable sales for Costco and Zumiez increased 6% and 1.1%, respectively, that of L Brands declined 10%.
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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