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Buckle's Sluggish Comparable Sales Continue to Hurt Stock
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The Buckle, Inc. (BKE - Free Report) has been continuing with sluggish comparable-store sales (comps) performance. Comps for the four-week period ended Feb 25, 2017, fell 23.2% year over year, continuing the declining trend – 17.6% in January, 15.5% in December, 16.2% in November, 15.5% in both October and September.
The company generated net sales of $62.8 million in February, down 23.3% year over year. Notably, net sales decreased 17.2% in January, 15.1% in December, 15.9% in November, 15.1% in October and 14.8% in September.
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 plunged 25.3% in the past six months compared with the Zacks Categorized Retail-Apparel/Shoe industry that witnessed a decline of 12.9% in the same time frame.
Sales at the company’s Men's category, which contributed nearly 46.5% to Buckle’s February sales, tumbled 21.5% year over year. Moreover, the company has not been able to turn the performance of its struggling Women’s business around. Sales in the Women’s category, which represented 53.5% of the company’s monthly sales, slumped 24.5% year over year.
On a combined basis, accessory sales, which constituted nearly 8.5% of the company’s February sales, dropped 22.5%, while footwear sales, which accounted for almost 5.5% of net sales, plunged 28%.
As of Mar 2, 2017, Buckle, which shares space with The Children's Place, Inc. (PLCE - Free Report) , operated 465 retail stores across 44 states.
Apart from Buckle, Costco Wholesale Corporation (COST - Free Report) and L Brands, Inc. came out with their comparable sales results for the month of February. While comparable sales for Costco increased 4% that of L Brands declined 13%.
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Buckle's Sluggish Comparable Sales Continue to Hurt Stock
The Buckle, Inc. (BKE - Free Report) has been continuing with sluggish comparable-store sales (comps) performance. Comps for the four-week period ended Feb 25, 2017, fell 23.2% year over year, continuing the declining trend – 17.6% in January, 15.5% in December, 16.2% in November, 15.5% in both October and September.
The company generated net sales of $62.8 million in February, down 23.3% year over year. Notably, net sales decreased 17.2% in January, 15.1% in December, 15.9% in November, 15.1% in October and 14.8% in September.
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 plunged 25.3% in the past six months compared with the Zacks Categorized Retail-Apparel/Shoe industry that witnessed a decline of 12.9% in the same time frame.
Sales at the company’s Men's category, which contributed nearly 46.5% to Buckle’s February sales, tumbled 21.5% year over year. Moreover, the company has not been able to turn the performance of its struggling Women’s business around. Sales in the Women’s category, which represented 53.5% of the company’s monthly sales, slumped 24.5% year over year.
On a combined basis, accessory sales, which constituted nearly 8.5% of the company’s February sales, dropped 22.5%, while footwear sales, which accounted for almost 5.5% of net sales, plunged 28%.
As of Mar 2, 2017, Buckle, which shares space with The Children's Place, Inc. (PLCE - Free Report) , operated 465 retail stores across 44 states.
Apart from Buckle, Costco Wholesale Corporation (COST - Free Report) and L Brands, Inc. came out with their comparable sales results for the month of February. While comparable sales for Costco increased 4% that of L Brands declined 13%.
Buckle currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? Last year's market-beating Top 10 portfolio produced 5 double-digit winners. For example, oil and natural gas giant Pioneer Natural Resources and First Republic Bank racked up stellar gains of +44.9% and +44.3% respectively. Now a brand-new list for 2017 has been hand-picked from 4,400 companies covered by the Zacks Rank. See the 2017 Top 10 right now>>