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Buckle (BKE) Continues With Robust Comps Trend in February
The Buckle, Inc. (BKE - Free Report) came out with comparable store net sales (comps) for the four-week period ended Feb 29, 2020. Notably, comps grew 6.3%, recording the third straight month of improvement. This follows an increase of 7.4% and 5% in January 2020 and December 2019, respectively. Further, net sales for the four-week period rose 6% year over year to $63 million.
In the month under review, total sales at the men’s unit increased 3% year over year. The men’s category contributed 50.5% to the company’s revenues. Additionally, Buckle is progressing well with the women’s business, which represented 49.5% of sales. Sales in the women’s category advanced nearly 7.5% year over year.
Combining men’s and women’s categories, accessory sales in February increased 6.5%, while footwear sales surged 38% from the year-ago period’s figure. The accessory and footwear categories accounted for roughly 8.5% and 9% of total sales, respectively.
Currently, Buckle, which shares space with Zumiez (ZUMZ - Free Report) , Stitch Fix (SFIX - Free Report) and Abercrombie & Fitch Company (ANF - Free Report) , operates 446 retail stores across 42 states.
Management is currently on track with efforts, such as enhancing marketing efficiency, store remodeling and technology upgrades. Moreover, the company has been experiencing positive results across most of its key categories — men’s, women’s and footwear. These factors act as key growth catalysts for the company’s top-line performance.
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