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Zumiez Inc. (ZUMZ) - $25 value - yours FREE >>
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Buckle's Dismal Comps Trend Lingers, July Numbers Slide
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 Jul 30, 2016, fell 10.9% year over year, continuing the trend of decline – 10.6% in June, 11% in May, 13.2% in April, 11.8% in March, 8.9% in February and 11.3% in January.
This Zacks Rank #5 (Strong Sell) company generated net sales of $66.5 million in July, down 9.8% year over year. We note that net sales decreased 10.1% in June, 10.4% in May, 12.3% in April, 11% in March, 7.7% in February and 10.1% in January.
BUCKLE INC Price, Consensus and EPS Surprise
BUCKLE INC Price, Consensus and EPS Surprise | BUCKLE INC Quote
Sales at the company’s Men's category tumbled 5% year over year. This category contributed nearly 47.5% to Buckle’s July sales. Sales in the Women’s category, which represented 52.5% of the company’s monthly sales, declined 13% 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 10% of the company’s July sales, dropped 7.5%, while footwear sales, which accounted for almost 5% of net sales, fell 8%.
Comps for the 13-week period ended Jul 30, 2016, went down 10.8%, while net sales over the same time frame fell 10.1% to $212.2 million from $236.1 million recorded in the year-ago period.
Comps for the 26-week period ended Jul 30, 2016, plunged 10.9%, while net sales over the same time frame declined 10.2% to $455.7 million from $507.4 million recorded in the year-ago period.
As of Aug 4, 2016, Buckle operated 470 retail stores across 44 states. The company opened three new outlets in July.
Apart from Buckle, Zumiez, Inc. (ZUMZ - Free Report) and The Cato Corporation (CATO - Free Report) recorded comps declines of 2.9% and 10%, respectively. On the other hand, L Brands, Inc. registered an increase of 2% in comps.
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