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Buckle's (BKE) Sales Increase in December, Comps Up 7%
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The Buckle, Inc. (BKE - Free Report) has been witnessing strength across its men’s and women’s businesses as well as in the accessory category for a while. Moreover, Buckle released the sales data for December, wherein it reported higher sales and comparable store net sales (comps).
Shares of this on-trend apparel, accessories and footwear retailer have surged 37.9% in the past three months compared with the industry’s 17% growth. Let’s delve deeper.
December Data
We note that comps for the five-week period ended Dec 31, 2022 grew 7% year over year. This followed a comps dip of 0.3% in November. However, the metric increased 1.4% and 2.7% in October and September, respectively. Total net sales rose 7.9% to $214.5 million for the month under discussion from $198.7 million reported in the prior-year five-week period ended Jan 1, 2022. Sales increased 0.5% in November, 2.3% in October and 3.8% in September.
Image Source: Zacks Investment Research
This Kearney, NE-based company witnessed increases in both the men’s and women’s sides of the business. While accessory was the bright spot, the footwear category continued to struggle. On the men’s and women’s sides of the business, total sales increased 12.5% and 0.5%, respectively, for the five-week period that ended Dec 31, 2022. While the men’s business contributed to 60.5% of total sales, the women’s business accounted for 39.5%. For the fiscal month, overall price points on the men’s and women’s sides of the business were up 7.5% and 5.5%, respectively.
On combining the men’s and women’s categories, accessory sales for December 2022 climbed 16%. However, footwear sales dropped 4% for the aforementioned period. The accessory and footwear categories accounted for 12% and 9.5%, respectively, of the current fiscal December net sales. Average accessory price points increased 9%, while average footwear price points rose slightly for the same fiscal month.
What’s More?
Comps for the 48-week period ended Dec 31, 2022 rose 3.2% year over year. Net sales for the 48-week fiscal period ended Dec 31, 2022 jumped 3.7% to $1.276 billion from net sales of $817.1 million recorded in the 35-week fiscal period ended Oct 2, 2021.
This presently Zacks Rank #3 (Hold) player currently operates 441 retail outlets in 42 states compared with 440 stores in 42 states as of Jan 5, 2022.
BKE also inaugurated three stores and remodeled 16 full stores while shuttering two outlets. On its last earnings call, management anticipated completing eight additional full remodels and introducing one additional store for the rest of fiscal 2022. It projected capital expenditures in the band of $26-$30 million for the year, including the planned store projects and IT investments.
3 Retail Stocks to Bet on
We have highlighted three top-ranked stocks, namely Tecnoglass (TGLS - Free Report) , Chico's FAS and Boot Barn (BOOT - Free Report) .
Tecnoglass manufactures and sells architectural glass and windows and aluminum products for the residential and commercial construction industries. TGLS 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 Tecnoglass’ current financial-year sales and EPS suggests growth of 11.2% and 9%, respectively, from the year-ago reported figures. TGLS has a trailing four-quarter earnings surprise of 26.9%, on average.
Chico's FAS, an omnichannel specialty retailer, currently sports a Zacks Rank of 1. CHS has a trailing four-quarter earnings surprise of 87.5%, on average.
The Zacks Consensus Estimate for Chico's FAS’s current financial-year sales and EPS suggests growth of 19.6% and 127.5%, respectively, from the year-ago reported figures.
Boot Barn, a fashion retailer of apparel and accessories, currently carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 11.7%, on average.
The Zacks Consensus Estimate for Boot Barn’s current financial-year sales suggests growth of 11.8% from the year-ago reported figure.
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Buckle's (BKE) Sales Increase in December, Comps Up 7%
The Buckle, Inc. (BKE - Free Report) has been witnessing strength across its men’s and women’s businesses as well as in the accessory category for a while. Moreover, Buckle released the sales data for December, wherein it reported higher sales and comparable store net sales (comps).
Shares of this on-trend apparel, accessories and footwear retailer have surged 37.9% in the past three months compared with the industry’s 17% growth. Let’s delve deeper.
December Data
We note that comps for the five-week period ended Dec 31, 2022 grew 7% year over year. This followed a comps dip of 0.3% in November. However, the metric increased 1.4% and 2.7% in October and September, respectively. Total net sales rose 7.9% to $214.5 million for the month under discussion from $198.7 million reported in the prior-year five-week period ended Jan 1, 2022. Sales increased 0.5% in November, 2.3% in October and 3.8% in September.
Image Source: Zacks Investment Research
This Kearney, NE-based company witnessed increases in both the men’s and women’s sides of the business. While accessory was the bright spot, the footwear category continued to struggle. On the men’s and women’s sides of the business, total sales increased 12.5% and 0.5%, respectively, for the five-week period that ended Dec 31, 2022. While the men’s business contributed to 60.5% of total sales, the women’s business accounted for 39.5%. For the fiscal month, overall price points on the men’s and women’s sides of the business were up 7.5% and 5.5%, respectively.
On combining the men’s and women’s categories, accessory sales for December 2022 climbed 16%. However, footwear sales dropped 4% for the aforementioned period. The accessory and footwear categories accounted for 12% and 9.5%, respectively, of the current fiscal December net sales. Average accessory price points increased 9%, while average footwear price points rose slightly for the same fiscal month.
What’s More?
Comps for the 48-week period ended Dec 31, 2022 rose 3.2% year over year. Net sales for the 48-week fiscal period ended Dec 31, 2022 jumped 3.7% to $1.276 billion from net sales of $817.1 million recorded in the 35-week fiscal period ended Oct 2, 2021.
This presently Zacks Rank #3 (Hold) player currently operates 441 retail outlets in 42 states compared with 440 stores in 42 states as of Jan 5, 2022.
BKE also inaugurated three stores and remodeled 16 full stores while shuttering two outlets. On its last earnings call, management anticipated completing eight additional full remodels and introducing one additional store for the rest of fiscal 2022. It projected capital expenditures in the band of $26-$30 million for the year, including the planned store projects and IT investments.
3 Retail Stocks to Bet on
We have highlighted three top-ranked stocks, namely Tecnoglass (TGLS - Free Report) , Chico's FAS and Boot Barn (BOOT - Free Report) .
Tecnoglass manufactures and sells architectural glass and windows and aluminum products for the residential and commercial construction industries. TGLS 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 Tecnoglass’ current financial-year sales and EPS suggests growth of 11.2% and 9%, respectively, from the year-ago reported figures. TGLS has a trailing four-quarter earnings surprise of 26.9%, on average.
Chico's FAS, an omnichannel specialty retailer, currently sports a Zacks Rank of 1. CHS has a trailing four-quarter earnings surprise of 87.5%, on average.
The Zacks Consensus Estimate for Chico's FAS’s current financial-year sales and EPS suggests growth of 19.6% and 127.5%, respectively, from the year-ago reported figures.
Boot Barn, a fashion retailer of apparel and accessories, currently carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 11.7%, on average.
The Zacks Consensus Estimate for Boot Barn’s current financial-year sales suggests growth of 11.8% from the year-ago reported figure.