The Buckle, Inc. (BKE - Free Report) comparable-store sales (comps) for December decreased 0.2%, following a decline of 0.6% in the preceding month. In October, September and August, the company witnessed comps decline of 1%, 2.4% and 0.7%, respectively. This marked its fifth straight month of dismal comparable sales. Net sales were $137.4 million in December, down 6.7% year over year. This follows an increase of 3.9% in November.
While comps for the 48-week period, ended Jan 5, dipped 0.9%, net sales decreased 2.1% to $839.7 million.
Sales at the company’s Men's category, which contributed nearly 59% to sales in December, were up 2.5% year over year for the five-week period ended Jan 5, 2019. However, Buckle has not been able to revive the performance of the struggling Women’s business. Sales in the Women’s category, which represented 41% of the company’s monthly sales, declined 1.5% year over year during the aforementioned period.
On a combined basis, accessory sales, which constituted nearly 10% of the company’s December sales, dropped 3%. However, footwear sales, which accounted for almost 6.5% of net sales, increased 25%.
Currently, this Zacks Rank #3 (Hold) company operates 452 retail stores across 43 states.
Apart from Buckle; Costco (COST - Free Report) , Zumiez (ZUMZ - Free Report) and L Brands (LB - Free Report) reported sales results for December. Costco and Zumiez registered comps growth of 6.1%, and 4.9%, respectively. However, comps for L Brands remained flat.
In the past six months, shares of Buckle have lost 22% compared with the industry’s 13.8% decline.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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