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The Buckle, Inc.’s (BKE - Free Report) shares have jumped 6.7% since Mar 4, following impressive sales for February. Despite coronavirus blues, the company managed to deliver the ninth straight monthly sales rise and seventh consecutive comparable store net sales (comps) increase for the month. Markedly, this stellar sales performance has been driving the Zacks Rank #2 (Buy) stock.
Apparently, shares of this apparel, footwear and accessories retailer have surged 23.7% over the past three months compared with the industry’s 21.9% rally. Also, Buckle has been witnessing strength in the online business amid the pandemic. In addition, momentum in the youth business owing to evolution of the Mini Me assortment appears encouraging.
Robust Sales Numbers
Markedly, comps grew 5.3% year over year for the four-week period ended Feb 27, 2021. This followed an increase of 35.3%, 17.9% and 8.4% for January, December and November, respectively. Impressively, Buckle’s net sales for the fiscal month ended Feb 27, 2021 increased 5% to $66.1 million from $63 million recorded in the month ended Feb 29, 2020. We note that the company registered sales increase of 33.6%, 17.7% and 8.1%, respectively, in the preceding three months.
The company’s women’s and men’s merchandise categories are doing well. For the month under review, total sales at the men’s unit increased 4.5% year over year and the same at the women’s business grew nearly 3.5%. While the men’s category contributed 50.5% to the company’s overall monthly sales, the women’s unit accounted for nearly 49.5%. On combining the men’s and women’s categories, accessory sales for the month increased about 5% and footwear sales climbed up 24.5% from the comparable year-ago figure. Both the accessory and footwear categories accounted for roughly 8.5% and 10.5%, respectively, of overall sales. In the year-ago period, sales were up 8.5% and 9%, respectively, for both these categories.
We note that Buckle presently operates 442 retail outlets across 42 states versus 446 outlets as of Mar 4, 2020. Management also informed that it will release fourth-quarter and fiscal 2020 results on Mar 12, 2021.
Boot Barn (BOOT - Free Report) , also a Zacks Rank #1 stock, has a long-term earnings growth rate of 20%.
Tapestry (TPR - Free Report) boasts a long-term earnings growth rate of 10% and currently flaunts a Zacks Rank #2.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Buckle's (BKE) Impressive Sales Performance Drives Stock
The Buckle, Inc.’s (BKE - Free Report) shares have jumped 6.7% since Mar 4, following impressive sales for February. Despite coronavirus blues, the company managed to deliver the ninth straight monthly sales rise and seventh consecutive comparable store net sales (comps) increase for the month. Markedly, this stellar sales performance has been driving the Zacks Rank #2 (Buy) stock.
Apparently, shares of this apparel, footwear and accessories retailer have surged 23.7% over the past three months compared with the industry’s 21.9% rally. Also, Buckle has been witnessing strength in the online business amid the pandemic. In addition, momentum in the youth business owing to evolution of the Mini Me assortment appears encouraging.
Robust Sales Numbers
Markedly, comps grew 5.3% year over year for the four-week period ended Feb 27, 2021. This followed an increase of 35.3%, 17.9% and 8.4% for January, December and November, respectively. Impressively, Buckle’s net sales for the fiscal month ended Feb 27, 2021 increased 5% to $66.1 million from $63 million recorded in the month ended Feb 29, 2020. We note that the company registered sales increase of 33.6%, 17.7% and 8.1%, respectively, in the preceding three months.
The company’s women’s and men’s merchandise categories are doing well. For the month under review, total sales at the men’s unit increased 4.5% year over year and the same at the women’s business grew nearly 3.5%. While the men’s category contributed 50.5% to the company’s overall monthly sales, the women’s unit accounted for nearly 49.5%. On combining the men’s and women’s categories, accessory sales for the month increased about 5% and footwear sales climbed up 24.5% from the comparable year-ago figure. Both the accessory and footwear categories accounted for roughly 8.5% and 10.5%, respectively, of overall sales. In the year-ago period, sales were up 8.5% and 9%, respectively, for both these categories.
We note that Buckle presently operates 442 retail outlets across 42 states versus 446 outlets as of Mar 4, 2020. Management also informed that it will release fourth-quarter and fiscal 2020 results on Mar 12, 2021.
Other Key Picks in Retail
Abercrombie & Fitch (ANF - Free Report) has a long-term earnings growth rate of 18% 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, has a long-term earnings growth rate of 20%.
Tapestry (TPR - Free Report) boasts a long-term earnings growth rate of 10% and currently flaunts a Zacks Rank #2.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>