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Zumiez Inc. (ZUMZ) - free report >>
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Zumiez Inc. (ZUMZ) - free report >>
Buckle, Inc. (The) (BKE) - free report >>
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Buckle's Sluggish Comparable Sales Performance Continues
The Buckle, Inc. (BKE - Free Report) has been continuing with its sluggish comparable-store sales (comps) performance this year. Comps for the four-week period ended May 28, 2016, fell 11% year over year, continuing the trend of decline – 13.2% in April, 11.8% in March, 8.9% in February and 11.3% in January.
This Zacks Rank #4 (Sell) company generated net sales of $67.4 million in May, down 10.4% year over year. We note that net sales decreased 12.3% in April, 11% in March, 7.7% in February and 10.1% in January.
Sales at the company’s Men's category tumbled 5.5% year over year. The category contributed nearly 46.5% to Buckle’s May sales. Sales in the Women’s category, which represented 53.5% of the company’s monthly sales, declined 12.5% year over year. Buckle has not been able to turn the performance of its struggling Women’s business around.
On a combined basis, accessory sales, which constituted nearly 9.5% of the company’s May sales, dropped 5%, while footwear sales, which accounted for almost 6% of net sales, fell 13%.
Comps for the 17-week period ended May 28, 2016, went down 11.1%, while net sales over the same time frame fell 10.3% to $310.9 million from $346.6 million recorded in the year-ago period.
As of Jun 2, 2016, Buckle operated 467 retail stores across 44 states.
Apart from Buckle, Zumiez, Inc. (ZUMZ - Free Report) and The Cato Corporation (CATO - Free Report) recorded comps decline of 7.6% and 2%, respectively. On the other hand, L Brands, Inc. (LB - Free Report) registered flat comps.
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