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Buckle (BKE) Sees Fifth Straight Month of Sales Increase
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Shares of The Buckle, Inc. (BKE - Free Report) have increased 45.5% in the past three months compared with the industry’s 34.4% rally. This outperformance can be attributed to the company’s stellar sales performance in the past five months. Also, Buckle’s comparable store net sales (comps) performance for October has been impressive.
Apparently, net sales for the four-week fiscal month ended Oct 31, 2020, jumped 12.1% to $78.1 million compared to net sales of $69.6 million recorded in the four-week fiscal month ended Nov 2, 2019. We note that the company registered increases of 22.7%, 1.2%, 3.8% and 26.8%, respectively, for September, August, July and June. Moreover, this Zacks Rank #3 (Hold) company’s comps rose 12.7% year over year for the four-week period ended Oct 31, 2020.
For the month under review, total sales at the men’s unit increased 12.5% year over year, whereas the metric at the women’s business grew nearly 17%. While the men’s category contributed 50.5% to the company’s overall monthly sales, the women’s unit accounted for nearly 49.5%. Combining the men’s and women’s categories, accessory sales in October increased about 19%, while footwear sales climbed up 47% from the year-ago period’s figure. Both the accessory and footwear categories accounted for roughly 8% and 11.5%, respectively, of total sales.
Moreover, net sales for the 13-week fiscal quarter ended Oct 31, 2020, jumped 12% to $251 million compared to net sales of $224.1 million recorded in the 13-week fiscal quarter ended Nov 2, 2019. Also, comps for the third quarter grew 12.4% year over year. The company will release its third-quarter results on Nov 20, 2020.
However, net sales year to date for the 39-week fiscal period ended Oct 31, 2020, dipped 7.4% to $582.4 million compared to net sales of $629.3 million reported in the year-ago 39-week fiscal period. In addition, comps during the aforementioned fiscal period declined 7.1%. We note that this casual apparel, footwear and accessories retailer initiated the process of reopening outlets during the week of Apr 26, 2020. Buckle presently operates 446 retail stores across 42 states versus 449 outlets as of Nov 5, 2019.
Boot Barn (BOOT - Free Report) , also a Zacks Rank #1 stock with a long-term earnings-growth rate of 20%.
Zumiez (ZUMZ - Free Report) has delivered an earnings surprise of 41.2% in the last four quarters, on average. The company currently has a Zacks Rank of 1.
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Buckle (BKE) Sees Fifth Straight Month of Sales Increase
Shares of The Buckle, Inc. (BKE - Free Report) have increased 45.5% in the past three months compared with the industry’s 34.4% rally. This outperformance can be attributed to the company’s stellar sales performance in the past five months. Also, Buckle’s comparable store net sales (comps) performance for October has been impressive.
Apparently, net sales for the four-week fiscal month ended Oct 31, 2020, jumped 12.1% to $78.1 million compared to net sales of $69.6 million recorded in the four-week fiscal month ended Nov 2, 2019. We note that the company registered increases of 22.7%, 1.2%, 3.8% and 26.8%, respectively, for September, August, July and June. Moreover, this Zacks Rank #3 (Hold) company’s comps rose 12.7% year over year for the four-week period ended Oct 31, 2020.
For the month under review, total sales at the men’s unit increased 12.5% year over year, whereas the metric at the women’s business grew nearly 17%. While the men’s category contributed 50.5% to the company’s overall monthly sales, the women’s unit accounted for nearly 49.5%. Combining the men’s and women’s categories, accessory sales in October increased about 19%, while footwear sales climbed up 47% from the year-ago period’s figure. Both the accessory and footwear categories accounted for roughly 8% and 11.5%, respectively, of total sales.
Moreover, net sales for the 13-week fiscal quarter ended Oct 31, 2020, jumped 12% to $251 million compared to net sales of $224.1 million recorded in the 13-week fiscal quarter ended Nov 2, 2019. Also, comps for the third quarter grew 12.4% year over year. The company will release its third-quarter results on Nov 20, 2020.
However, net sales year to date for the 39-week fiscal period ended Oct 31, 2020, dipped 7.4% to $582.4 million compared to net sales of $629.3 million reported in the year-ago 39-week fiscal period. In addition, comps during the aforementioned fiscal period declined 7.1%. We note that this casual apparel, footwear and accessories retailer initiated the process of reopening outlets during the week of Apr 26, 2020. Buckle presently operates 446 retail stores across 42 states versus 449 outlets as of Nov 5, 2019.
Key Picks in Retail
Tapestry (TPR - Free Report) has a long-term earnings-growth rate of 9.3% and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Boot Barn (BOOT - Free Report) , also a Zacks Rank #1 stock with a long-term earnings-growth rate of 20%.
Zumiez (ZUMZ - Free Report) has delivered an earnings surprise of 41.2% in the last four quarters, on average. The company currently has a Zacks Rank of 1.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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