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Buckle's August Sales Marks Third-Straight Monthly Increase
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Shares of The Buckle, Inc. (BKE - Free Report) have increased 2.5% since the company released robust sales numbers for August on Sep 3. Apparently, net sales for the four-week fiscal month ended Aug 29, 2020 grew 1.2% to $78.1 million compared to net sales of $77.2 million recorded in the four-week fiscal month ended Aug 31, 2019. This marks the third-straight sales increase on a monthly basis. We note that Buckle registered an increase of 3.8% for July and 26.8% for June.
However, the company had recorded sales decline of 16.8%, 80.8% and 50.2%, respectively, in the preceding three months. Nonetheless, the metric had improved 6% and 3.2% in February and January respectively. However, net sales for the 30-week fiscal period ended Aug 29, 2020 plunged 15.1% to $409.5 million versus the net sales of $482.3 million recorded in the year-earlier 30-week fiscal period.
Meanwhile, Buckle’s comparable-store net sales for the four-week period ended Aug 29, 2020 rose 1.7% from the year-ago period. The metric accounted for stores open for a minimum of one year. For the 30-week period ended Aug 29, comparable-store net sales fell 14.7% from comparable-store net sales for the same period a year ago.
We note that this casual apparel, footwear and accessories retailer initiated the process of reopening outlets during the week of Apr 26, 2020. As of Aug 29, 2020, Buckle reopened about 432 outlets and currently operates 446 retail stores across 42 states. Of the 14 shuttered stores, one has not been reopened owing to damage sustained during the pandemic-induced closure period. The other 13 outlets are situated in California, and had previously been reopened. However, subsequently these stores shuttered on state guidelines. Excluding the aforementioned 14 stores, comparable-store net sales for the 4-week period ended Aug 29, 2020 jumped 4.6% from the year-earlier period.
A glimpse at the company’s performance shows that its shares have increased 14.4% and outperformed the industry’s 5.1% gain in the past three months. This outperformance is attributed to strength in the company’s online business. Its online store, which has been open throughout the COVID-19 crisis, is performing outstandingly. Impressively, online sales surged 64.3% to $78.1 million for the 26-week period ended Aug 1, 2020.
Tapestry (TPR - Free Report) has a long-term earnings growth rate of 10% and a Zacks Rank #2 (Buy).
Big Lots (BIG - Free Report) also a Zacks Rank #2 stock with a long-term earnings growth rate of 7.1%.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
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Buckle's August Sales Marks Third-Straight Monthly Increase
Shares of The Buckle, Inc. (BKE - Free Report) have increased 2.5% since the company released robust sales numbers for August on Sep 3. Apparently, net sales for the four-week fiscal month ended Aug 29, 2020 grew 1.2% to $78.1 million compared to net sales of $77.2 million recorded in the four-week fiscal month ended Aug 31, 2019. This marks the third-straight sales increase on a monthly basis. We note that Buckle registered an increase of 3.8% for July and 26.8% for June.
However, the company had recorded sales decline of 16.8%, 80.8% and 50.2%, respectively, in the preceding three months. Nonetheless, the metric had improved 6% and 3.2% in February and January respectively. However, net sales for the 30-week fiscal period ended Aug 29, 2020 plunged 15.1% to $409.5 million versus the net sales of $482.3 million recorded in the year-earlier 30-week fiscal period.
Meanwhile, Buckle’s comparable-store net sales for the four-week period ended Aug 29, 2020 rose 1.7% from the year-ago period. The metric accounted for stores open for a minimum of one year. For the 30-week period ended Aug 29, comparable-store net sales fell 14.7% from comparable-store net sales for the same period a year ago.
We note that this casual apparel, footwear and accessories retailer initiated the process of reopening outlets during the week of Apr 26, 2020. As of Aug 29, 2020, Buckle reopened about 432 outlets and currently operates 446 retail stores across 42 states. Of the 14 shuttered stores, one has not been reopened owing to damage sustained during the pandemic-induced closure period. The other 13 outlets are situated in California, and had previously been reopened. However, subsequently these stores shuttered on state guidelines. Excluding the aforementioned 14 stores, comparable-store net sales for the 4-week period ended Aug 29, 2020 jumped 4.6% from the year-earlier period.
A glimpse at the company’s performance shows that its shares have increased 14.4% and outperformed the industry’s 5.1% gain in the past three months. This outperformance is attributed to strength in the company’s online business. Its online store, which has been open throughout the COVID-19 crisis, is performing outstandingly. Impressively, online sales surged 64.3% to $78.1 million for the 26-week period ended Aug 1, 2020.
Key Picks in Retail
Target (TGT - Free Report) has a long-term earnings growth rate of 7.2% and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Tapestry (TPR - Free Report) has a long-term earnings growth rate of 10% and a Zacks Rank #2 (Buy).
Big Lots (BIG - Free Report) also a Zacks Rank #2 stock with a long-term earnings growth rate of 7.1%.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>