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Buckle (BKE) Cheers Investors With Fantastic June Comps

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The Buckle, Inc. (BKE - Free Report) came out with its comparable-store net sales (comps) results for the five-week period ended Jul 6, 2019. Notably, comps increased 6.2%, after reporting a decrease of 0.8% in the preceding month. Net sales for the month improved by 5.5% to $74.8 million. This has been a fantastic performance for the company so far in 2019, at least in terms of comps.

Consequently, shares of this Zacks Rank #2 (Buy) company rose more than 3% during the trading session on Jul 11.

Although, shares of this Kearney, NE-based company have lost 5.2% in the past three months, yesterday’s gain led the stock to rise 7.2% in the past one month outperforming the industry’s rise of 2.6%.

In June, total sales at the men’s unit, which contributed nearly 56% to sales, jumped 6.5% year over year. Also, Buckle was able to revive the performance of the struggling women’s business. Sales in the women’s category, which represented 44% of sales, grew 5% year over year during the said period.

The company’s accessory and footwear sales are included within the men’s and women’s units. Accessory sales for June increased around 5.5%, while footwear sales grew approximately 20.5%.

Additionally, management revealed sales information for the 22-week period ended Jul 6. During this period, comps improved 0.4% year over year, while net sales decreased 0.1% to $337.6 million.

Buckle is also on track with efforts such as enhancing marketing efficiency, store remodeling and technology upgrades. These are likely to aid the company’s performance in the forthcoming periods, thereby boosting investors’ sentiments.

Currently, Buckle operates 448 retail stores across 42 states.

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