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Buckle's (BKE) Stellar Sales Run Reverses in March, Comps Fall
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The Buckle, Inc.’s (BKE - Free Report) impressive sales streak for the past few months took a hit in March 2022, as it reported soft performance for the same month. Buckle’s net sales for the five-week fiscal period ended Apr 2, 2022, tumbled 10.4% to $124.9 million from $139.4 million recorded in the five-week fiscal month ended Apr 3, 2021. We note that this apparel, footwear and accessories retailer registered a sales increase of 32.9%, 17.3%, 35.9% and 23.6% respectively, in the preceding four months.
For the fiscal month under review, comparable store net sales for stores open at least a year declined 9.7% year over year. The metric jumped 33.3%, 17.7%, 36% and 23.3%, respectively, in the prior four months.
For the same period, total sales at the men’s unit decreased 10% from the five-week period ended Apr 3, 2021, while the metric at the women’s business declined 10.5%. While the men’s category contributed 51% to Buckle’s overall monthly sales, the women’s unit accounted for nearly 49%.
On combining the men’s and women’s categories, accessory sales for the fiscal month dipped 4% while footwear sales fell 8% from the comparable figure of fiscal March in 2021. The accessory and footwear categories accounted for 9% and 12%, respectively, of the overall fiscal March 2022 sales. For the comparable period in fiscal 2021, sales for accessory and footwear categories constituted 8.5% and 11.5%, respectively.
What’s More?
We note that the ongoing uncertainties, including supply-chain headwinds and higher freight expenses, are persistently hurting BKE’s performance. Buckle has been witnessing certain lags in the prime deliveries for a while due to the pandemic delays or congestion and limited trucking availability. Also, steep increases in online freight costs and marketing investments remain deterrents. These limitations might have weighed on March’s sales performance.
Nevertheless, this presently Zacks Rank #1 (Strong Buy) player’s strategic efforts appear encouraging. Despite the aforesaid challenges, Buckle is witnessing strength in its e-commerce wing. During the fourth quarter of fiscal 2021, online sales grew 10.5% to $73.1 million, while the metric jumped 15.9% to $220.8 million for the full fiscal. BKE also remains focused on boosting its product assortments, remodeling stores and enhancing technology.
Image Source: Zacks Investment Research
The Kearney, NE-based player presently operates 439 retail outlets across 42 states compared with 442 stores as of Apr 7, 2021. Buckle’s shares have fallen 15.8% in the past three months, outperforming the industry’s 21.9% decline.
Capri Holdings, which offers accessories and footwear, sports a Zacks Rank of 1 at present. CPRI has an expected earnings per share (EPS) growth rate of 53.9% for three-five years. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Capri Holdings’ current financial-year sales and EPS suggests growth of 37% and 215.8%, respectively, from the year-ago corresponding figures. CPRI has a trailing four-quarter earnings surprise of 1,018.2%, on average.
Boot Barn Holdings, a lifestyle retailer of western and work-related footwear, apparel and accessories, presently has a Zacks Rank #2 (Buy). BOOT has an expected EPS growth rate of 20% for three-five years.
The Zacks Consensus Estimate for Boot Barn Holdings’ current financial-year sales and EPS suggests growth of 62.6% and 220.8%, respectively, from the year-ago corresponding figures. BOOT has a trailing four-quarter earnings surprise of 47.1%, on average.
Tapestry, a renowned designer of fine accessories, presently carries a Zacks Rank of 2. TPR has a trailing four-quarter earnings surprise of 28.2%, on average.
The Zacks Consensus Estimate for Tapestry’s current-year sales and EPS suggests growth of 17.5% and 22.9%, respectively, from the corresponding year-ago levels. TPR has an expected EPS growth rate of 10% for three-five years.
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Buckle's (BKE) Stellar Sales Run Reverses in March, Comps Fall
The Buckle, Inc.’s (BKE - Free Report) impressive sales streak for the past few months took a hit in March 2022, as it reported soft performance for the same month. Buckle’s net sales for the five-week fiscal period ended Apr 2, 2022, tumbled 10.4% to $124.9 million from $139.4 million recorded in the five-week fiscal month ended Apr 3, 2021. We note that this apparel, footwear and accessories retailer registered a sales increase of 32.9%, 17.3%, 35.9% and 23.6% respectively, in the preceding four months.
For the fiscal month under review, comparable store net sales for stores open at least a year declined 9.7% year over year. The metric jumped 33.3%, 17.7%, 36% and 23.3%, respectively, in the prior four months.
For the same period, total sales at the men’s unit decreased 10% from the five-week period ended Apr 3, 2021, while the metric at the women’s business declined 10.5%. While the men’s category contributed 51% to Buckle’s overall monthly sales, the women’s unit accounted for nearly 49%.
On combining the men’s and women’s categories, accessory sales for the fiscal month dipped 4% while footwear sales fell 8% from the comparable figure of fiscal March in 2021. The accessory and footwear categories accounted for 9% and 12%, respectively, of the overall fiscal March 2022 sales. For the comparable period in fiscal 2021, sales for accessory and footwear categories constituted 8.5% and 11.5%, respectively.
What’s More?
We note that the ongoing uncertainties, including supply-chain headwinds and higher freight expenses, are persistently hurting BKE’s performance. Buckle has been witnessing certain lags in the prime deliveries for a while due to the pandemic delays or congestion and limited trucking availability. Also, steep increases in online freight costs and marketing investments remain deterrents. These limitations might have weighed on March’s sales performance.
Nevertheless, this presently Zacks Rank #1 (Strong Buy) player’s strategic efforts appear encouraging. Despite the aforesaid challenges, Buckle is witnessing strength in its e-commerce wing. During the fourth quarter of fiscal 2021, online sales grew 10.5% to $73.1 million, while the metric jumped 15.9% to $220.8 million for the full fiscal. BKE also remains focused on boosting its product assortments, remodeling stores and enhancing technology.
Image Source: Zacks Investment Research
The Kearney, NE-based player presently operates 439 retail outlets across 42 states compared with 442 stores as of Apr 7, 2021. Buckle’s shares have fallen 15.8% in the past three months, outperforming the industry’s 21.9% decline.
Other Solid Picks in Retail
Some other top-ranked stocks in the broader Retail sector are Capri Holdings (CPRI - Free Report) , Boot Barn Holdings (BOOT - Free Report) and Tapestry (TPR - Free Report) .
Capri Holdings, which offers accessories and footwear, sports a Zacks Rank of 1 at present. CPRI has an expected earnings per share (EPS) growth rate of 53.9% for three-five years. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Capri Holdings’ current financial-year sales and EPS suggests growth of 37% and 215.8%, respectively, from the year-ago corresponding figures. CPRI has a trailing four-quarter earnings surprise of 1,018.2%, on average.
Boot Barn Holdings, a lifestyle retailer of western and work-related footwear, apparel and accessories, presently has a Zacks Rank #2 (Buy). BOOT has an expected EPS growth rate of 20% for three-five years.
The Zacks Consensus Estimate for Boot Barn Holdings’ current financial-year sales and EPS suggests growth of 62.6% and 220.8%, respectively, from the year-ago corresponding figures. BOOT has a trailing four-quarter earnings surprise of 47.1%, on average.
Tapestry, a renowned designer of fine accessories, presently carries a Zacks Rank of 2. TPR has a trailing four-quarter earnings surprise of 28.2%, on average.
The Zacks Consensus Estimate for Tapestry’s current-year sales and EPS suggests growth of 17.5% and 22.9%, respectively, from the corresponding year-ago levels. TPR has an expected EPS growth rate of 10% for three-five years.