Back to top

Image: Bigstock

Buckle's (BKE) Solid Momentum Continues, June Sales Up 17.8%

Read MoreHide Full Article

The Buckle, Inc. (BKE - Free Report) has been reporting sturdy sales performance for the past few months. Impressively, this uptrend continued through the month of June too. Total net sales for the five-week fiscal month ended Jul 3, 2021 rose 17.8% to $111.7 million from the net sales of $94.8 million reported in the year-ago period. Also, the metric jumped 49.3% from net sales of $74.8 million recorded in the five-week period of fiscal 2019. A glance at the preceding five months indicates that net sales climbed 75.4%, 718%, 240.2%, 5% and 33.6%, respectively.

In the wake of the COVID-19 pandemic and its resulting impacts that saw closure of all its brick-and-mortar stores, comparisons are made with the comparable period of fiscal 2019. For the fiscal month ended Jul 3, 2021, total sales at the men’s unit soared 52.5% from the figure recorded during the five-week period ended Jul 6, 2019 while the metric at the women’s business jumped 44.5%. While the men’s category contributed 57% to the company’s overall monthly sales, the women’s unit accounted for nearly 43%.

On combining the men’s and women’s categories, accessory sales for the fiscal month were up 54% while footwear sales surged 76.5% from the number registered in the comparable period of fiscal 2019. Both the accessory and footwear categories accounted for 11% and 9%, respectively, of the overall monthly sales. For the comparable period of fiscal 2019, sales constituted 10.5% and 7.5%, respectively, for both these categories.

For the 22-week fiscal period ended Jul 3, 2021, net sales skyrocketed 91.5% to $500.6 million from $261.4 million delivered in the last fiscal year’s 22-week period ended Jul 4, 2020. Also, the metric increased 48.3% from $337.6 million generated in the comparable period of fiscal ended Jul 6, 2019.

What’s More?

In the wake of the coronavirus scare, sales in fiscal 2020 were marred by the shutdown of all the company’s brick-and-mortar stores on Mar 18, 2020. Accordingly, management plans to report total net sales per month compared with the past two years. Hence, it decided not to separately release comparable store sale data for the months, mostly affected by store shutdowns. However, it expects to resume monthly reporting with August results.

Zacks Investment ResearchImage Source: Zacks Investment Research

We note that Buckle presently operates 442 retail outlets across 42 states compared with 446 as of Jul 8, 2020. The company inaugurated a youth store in St. George, UT during June period. Further, it is witnessing immense strength in its online business amid the pandemic. Again, the women’s and men’s merchandise categories are making a solid progress. Shares of this presently Zacks Rank #1 (Strong Buy) player have increased 33.7% in the past six months compared with the industry’s 19.4% rally. You can see the complete list of today’s Zacks #1 Rank stocks here.

More Key Picks in Retail

Abercrombie & Fitch (ANF - Free Report) has a long-term earnings growth rate of 18% and a Zacks Rank of 1, currently.

Boot Barn (BOOT - Free Report) , presently a Zacks #1 Ranked stock, has an earnings surprise of 51.7%, on average, in the trailing four quarters.

L Brands has a long-term earnings growth rate of 13% and a Zacks Rank #2 (Buy), presently.

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.

See these 7 breakthrough stocks now>>


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Abercrombie & Fitch Company (ANF) - free report >>

Boot Barn Holdings, Inc. (BOOT) - free report >>

Buckle, Inc. (The) (BKE) - free report >>

Published in