Buckle, Inc. came out with comparable store net sales (comps) for the five-week period ended Jan 4, 2020. After witnessing comps decline of 1.6% in November 2019, the metric got back on track with an increase of 5% in the month of December. Net sales for the five-week period grew 4.8% year over year to $143.9 million.
Management highlighted that on account of a delayed Thanksgiving holiday this year, Cyber Monday shifted from fiscal November in 2018 to fiscal December in 2019. This led to a rise in online sales for the period under review, which had a favorable impact on both total sales and comps. Excluding online sales, brick-and-mortar comps for the five-week advanced 1.9%.
In the period under review, total sales at the men’s unit increased 5% year over year. The same contributed 59.5% to the company’s revenues. Also, Buckle is progressing well with the women’s business. Sales in the women’s category, which represented 40.5% of sales, grew 3.5% year over year.
With men and women categories combined, accessory sales in December rose 8.5%, while footwear sales grew 32% from the year-ago figure.
Further, the company reported sales numbers for the 48-week period ended Jan 4. Comps for the said period grew 2% year over year, while net sales improved 1.6% to $853 million.
Currently, Buckle operates 448 retail stores across 42 states.
The company is 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.
In the past three months, shares of this Zacks Rank #1 (Strong Buy) company have rallied 24.5%, outperforming the industry’s growth of 11.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
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