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Buckle's (BKE) Soft Comparable Sales Continue to Hurt Stock
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The Buckle, Inc. (BKE - Free Report) has been continuing with its sluggish comparable-store sales (comps) performance. Comps for the five-week period ended Dec 31, 2016, fell 15.5% year over year, continuing the declining trend – 16.2% in November, 15.5% in both October and September, 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 $154.6 million in December, down 15.1% year over year. Notably, net sales decreased 15.9% in November, 15.1% in October, 14.8% in September, 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.
Further, Buckle’s disappointing performance was visible from its dismal run in the index. Shares of this retailer of casual apparel, footwear and accessories have declined 21.8% in the past one year compared with the Zacks categorized Retail-Wholesale sector that has gained 9% in the same time frame.
Sales at the company’s Men's category, which contributed nearly 56% to Buckle’s December sales, tumbled 8% year over year. Moreover, Buckle has not been able to turn the performance of its struggling Women’s business around. Sales in the Women’s category, which represented 44% of the company’s monthly sales, slumped 22% year over year.
On a combined basis, accessory sales, which constituted nearly 11% of the company’s December sales, dropped 10.5%, while footwear sales, which accounted for almost 5% of net sales, plunged 18.5%.
Comps for the 48-week period ended Dec 31, 2016, declined 13.3%, while net sales over the period decreased 12.7% to $931 million from $1,067 million reported in the year-ago period.
As of Jan 5, 2016, Buckle operated 470 retail stores across 44 states.
Apart from Buckle, Costco Wholesale Corporation (COST - Free Report) , Zumiez Inc. (ZUMZ - Free Report) and Gap Inc. (GPS - Free Report) came out with their comparable sales results for the month of December registering an increase of 3%, 3.4% and 4%, respectively.
Buckle currently carries a Zacks Rank #5 (Strong Sell).
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Buckle's (BKE) Soft Comparable Sales Continue to Hurt Stock
The Buckle, Inc. (BKE - Free Report) has been continuing with its sluggish comparable-store sales (comps) performance. Comps for the five-week period ended Dec 31, 2016, fell 15.5% year over year, continuing the declining trend – 16.2% in November, 15.5% in both October and September, 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 $154.6 million in December, down 15.1% year over year. Notably, net sales decreased 15.9% in November, 15.1% in October, 14.8% in September, 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.
Further, Buckle’s disappointing performance was visible from its dismal run in the index. Shares of this retailer of casual apparel, footwear and accessories have declined 21.8% in the past one year compared with the Zacks categorized Retail-Wholesale sector that has gained 9% in the same time frame.
Sales at the company’s Men's category, which contributed nearly 56% to Buckle’s December sales, tumbled 8% year over year. Moreover, Buckle has not been able to turn the performance of its struggling Women’s business around. Sales in the Women’s category, which represented 44% of the company’s monthly sales, slumped 22% year over year.
On a combined basis, accessory sales, which constituted nearly 11% of the company’s December sales, dropped 10.5%, while footwear sales, which accounted for almost 5% of net sales, plunged 18.5%.
Comps for the 48-week period ended Dec 31, 2016, declined 13.3%, while net sales over the period decreased 12.7% to $931 million from $1,067 million reported in the year-ago period.
As of Jan 5, 2016, Buckle operated 470 retail stores across 44 states.
Apart from Buckle, Costco Wholesale Corporation (COST - Free Report) , Zumiez Inc. (ZUMZ - Free Report) and Gap Inc. (GPS - Free Report) came out with their comparable sales results for the month of December registering an increase of 3%, 3.4% and 4%, respectively.
Buckle currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>