The Buckle, Inc. (BKE - Free Report) has been continuing with its sluggish comparable-store sales (comps) performance this year. Comps for the five-week period ended Oct 1, 2016, fell 15.5% year over year, continuing the trend of decline – 14.8% in August, 10.9% in July, 10.6% in June, 11% in May, 13.2% in April, 11.8% in March, 8.9% in February and 11.3% in January.
The company generated net sales of $82.9 million in September, down 14.8% year over year. Notably, net sales decreased 14% in August, 9.8% in July, 10.1% in June, 10.4% in May, 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 9.5% year over year. This category contributed nearly 44.5% to Buckle’s September sales. Sales in the Women’s category, which represented 55.5% of the company’s monthly sales, slumped 18.5% 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 8.5% of the company’s September sales, dropped 18%, while footwear sales, which accounted for almost 6.5% of net sales, plummeted 20.5%.
Comps for the 35-week period ended Oct 1, 2016, plunged 12.1%, while net sales over the same time frame fell 11.4% to $625.8 million from $706.2 million recorded in the year-ago period.
As of Oct 6, 2016, Buckle operated 470 retail stores across 44 states.
Apart from Buckle, Costco Wholesale Corporation (COST - Free Report) , L Brands, Inc. (LB - Free Report) and Zumiez Inc. came out with their comparable sales results for the month of September, registering an increase of 1%, 3% and 6.3%, respectively.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>