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Buckle's Sluggish 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 four-week period ended Apr 29, 2017 fell 3.5% year over year, continuing the declining trend – 10.1% in March, 23.2% in February and 17.6% in January. However, we noticed that the rate of decline has decelerated sharply.
The company generated net sales of $62.6 million in April, down 3.9% year over year. Notably, net sales decreased 10.1% in March, 23.3% in February and 17.2% in January.
Comps for the 13-week period ended Apr 29, 2017 declined 12.7%, while net sales decreased by 12.8% to $212.3 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 12.5% year to date compared with the Zacks categorized Retail-Apparel/Shoe industry’s decline of 8.8%.
Sales at the company’s Men's category, which contributed nearly 47.5% to Buckle’s April sales, tumbled 4% 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 52.5% of the company’s monthly sales, slumped 11.5% year over year.
On a combined basis, accessory sales, which constituted nearly 8.5% of the company’s April sales, dropped 8%, while footwear sales, which accounted for almost 7% of net sales, fell 4%.
As of May 4, 2017, Buckle operated 462 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 April. While comparable sales for Costco and Zumiez increased 3% and 7.8%, respectively, that of L Brands declined 5%.
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
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Buckle's Sluggish 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 four-week period ended Apr 29, 2017 fell 3.5% year over year, continuing the declining trend – 10.1% in March, 23.2% in February and 17.6% in January. However, we noticed that the rate of decline has decelerated sharply.
The company generated net sales of $62.6 million in April, down 3.9% year over year. Notably, net sales decreased 10.1% in March, 23.3% in February and 17.2% in January.
Comps for the 13-week period ended Apr 29, 2017 declined 12.7%, while net sales decreased by 12.8% to $212.3 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 12.5% year to date compared with the Zacks categorized Retail-Apparel/Shoe industry’s decline of 8.8%.
Sales at the company’s Men's category, which contributed nearly 47.5% to Buckle’s April sales, tumbled 4% 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 52.5% of the company’s monthly sales, slumped 11.5% year over year.
On a combined basis, accessory sales, which constituted nearly 8.5% of the company’s April sales, dropped 8%, while footwear sales, which accounted for almost 7% of net sales, fell 4%.
As of May 4, 2017, Buckle operated 462 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 April. While comparable sales for Costco and Zumiez increased 3% and 7.8%, respectively, that of L Brands declined 5%.
Buckle currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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