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Buckle's (BKE) Comparable Store Sales Decline 1.7% in June
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The Buckle, Inc. (BKE - Free Report) posted soft comparable store sales results for the month of June. This Kearney, NE-based company witnessed sluggishness in both the men’s and women’s sides of the business. While accessory was the bright spot, the footwear category struggled.
We note that comparable store sales for the five-week period ended Jul 2, 2022, declined 1.7% year over year. This followed a comparable store sales increase of 5.3% and 2.8% in the months of May and April, respectively. Total net sales fell 1.5% to $110 million for the month under discussion from $111.7 million reported in the prior-year five-week period ended Jul 3, 2021. This followed a total net sales increase of 5.1% in May and 2.9% in April.
On both the men’s and women’s sides of the business, total sales decreased 2% for the five-week period ended Jul 2, 2022. While the men’s business contributed roughly 57% of total sales, the women’s business accounted for about 43%. For the fiscal month, overall price points on the men’s and women’s sides of the business were up roughly 3% and 5.5%, respectively.
On combining the men’s and women’s categories, accessory sales for the month of June 2022 climbed 6%; however, footwear sales declined 8.5% in comparison to the prior year. The accessory and footwear categories accounted for 12% and 8.5%, respectively, of the current fiscal June net sales. Average accessory price points increased approximately 5%, while average footwear price points rose about 6% for the fiscal month.
Image Source: Zacks Investment Research
For the 22-week period ended Jul 2, 2022, comparable store sales increased 2.8% year over year, while net sales rose 2.6% to $513.4 million.
This Zacks Rank #2 (Buy) company currently operates 441 retail stores in 42 states. We note that the Zacks Consensus Estimate for Buckle’s current financial year sales and EPS suggests growth of 6.5% and 2.1%, respectively, from the year-ago reported figure. Shares of Buckle have fallen 12.6% in the past three months compared with the industry’s decline of 22.3%.
The Zacks Consensus Estimate for Designer Brands’ current financial year revenues and EPS suggests growth of 6.9% and 16.5%, respectively, from the year-ago reported figure. DBI has a trailing four-quarter earnings surprise of 102.5%, on average.
Boot Barn Holdings, a lifestyle retailer of western and work-related footwear, apparel and accessories, flaunts a Zacks Rank #1. 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 17% and 4.4%, respectively, from the year-ago period.
G-III Apparel designs, sources and markets apparel and accessories under owned, licensed and private label brands. The stock currently carries a Zacks Rank #1.
The Zacks Consensus Estimate for G-III Apparel’s current financial year revenues and EPS suggests growth of 12.9% and 10.4%, respectively, from the year-ago reported figure. G-III Apparel has a trailing four-quarter earnings surprise of 97.5%, on average.
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Buckle's (BKE) Comparable Store Sales Decline 1.7% in June
The Buckle, Inc. (BKE - Free Report) posted soft comparable store sales results for the month of June. This Kearney, NE-based company witnessed sluggishness in both the men’s and women’s sides of the business. While accessory was the bright spot, the footwear category struggled.
We note that comparable store sales for the five-week period ended Jul 2, 2022, declined 1.7% year over year. This followed a comparable store sales increase of 5.3% and 2.8% in the months of May and April, respectively. Total net sales fell 1.5% to $110 million for the month under discussion from $111.7 million reported in the prior-year five-week period ended Jul 3, 2021. This followed a total net sales increase of 5.1% in May and 2.9% in April.
On both the men’s and women’s sides of the business, total sales decreased 2% for the five-week period ended Jul 2, 2022. While the men’s business contributed roughly 57% of total sales, the women’s business accounted for about 43%. For the fiscal month, overall price points on the men’s and women’s sides of the business were up roughly 3% and 5.5%, respectively.
On combining the men’s and women’s categories, accessory sales for the month of June 2022 climbed 6%; however, footwear sales declined 8.5% in comparison to the prior year. The accessory and footwear categories accounted for 12% and 8.5%, respectively, of the current fiscal June net sales. Average accessory price points increased approximately 5%, while average footwear price points rose about 6% for the fiscal month.
Image Source: Zacks Investment Research
For the 22-week period ended Jul 2, 2022, comparable store sales increased 2.8% year over year, while net sales rose 2.6% to $513.4 million.
This Zacks Rank #2 (Buy) company currently operates 441 retail stores in 42 states. We note that the Zacks Consensus Estimate for Buckle’s current financial year sales and EPS suggests growth of 6.5% and 2.1%, respectively, from the year-ago reported figure. Shares of Buckle have fallen 12.6% in the past three months compared with the industry’s decline of 22.3%.
3 More Stocks Looking Red Hot
Here are three more top-ranked stocks, namely, Designer Brands (DBI - Free Report) , Boot Barn Holdings (BOOT - Free Report) and G-III Apparel (GIII - Free Report) .
Designer Brands designs, manufactures, and retails footwear and accessories. The stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Designer Brands’ current financial year revenues and EPS suggests growth of 6.9% and 16.5%, respectively, from the year-ago reported figure. DBI has a trailing four-quarter earnings surprise of 102.5%, on average.
Boot Barn Holdings, a lifestyle retailer of western and work-related footwear, apparel and accessories, flaunts a Zacks Rank #1. 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 17% and 4.4%, respectively, from the year-ago period.
G-III Apparel designs, sources and markets apparel and accessories under owned, licensed and private label brands. The stock currently carries a Zacks Rank #1.
The Zacks Consensus Estimate for G-III Apparel’s current financial year revenues and EPS suggests growth of 12.9% and 10.4%, respectively, from the year-ago reported figure. G-III Apparel has a trailing four-quarter earnings surprise of 97.5%, on average.