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Buckle (BKE) Showcases Soft Comps Performance in January
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The Buckle, Inc.’s (BKE - Free Report) comparable-store sales (comps) for January decreased 2.2%, following a decline of 0.2% in the preceding month. In November, October, September and August, the company witnessed comps decline of 0.6%, 1%, 2.4% and 0.7%, respectively. This marked the company’s sixth straight month of dismal comps. Net sales were $45.8 million in January, down 17.9% year over year. This follows a decrease of 6.7% in December.
While comps for the 52-week period ended Feb 2 dipped 0.9%, net sales decreased 3.1% to $885.5 million.
Sales at the company’s Men's category, which contributed nearly 50% to sales in January, were up 1% year over year for the four-week period ended Feb 2, 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 50% of the company’s monthly sales, declined 2.5% year over year during the aforementioned period.
On a combined basis, accessory sales, which constituted nearly 7.5% of the company’s January sales, dropped 4%. However, footwear sales, which accounted for almost 6.5% of net sales, increased 15%.
Apart from Buckle, Costco (COST - Free Report) , Zumiez (ZUMZ - Free Report) and L Brands (LB - Free Report) reported sales results for January. Costco and Zumiez registered comps growth of 5.2% and 3.5%, respectively. However, comps for L Brands declined 1%.
In the past six months, shares of Buckle have lost 30% compared with the industry’s 19.4% decline.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Buckle (BKE) Showcases Soft Comps Performance in January
The Buckle, Inc.’s (BKE - Free Report) comparable-store sales (comps) for January decreased 2.2%, following a decline of 0.2% in the preceding month. In November, October, September and August, the company witnessed comps decline of 0.6%, 1%, 2.4% and 0.7%, respectively. This marked the company’s sixth straight month of dismal comps. Net sales were $45.8 million in January, down 17.9% year over year. This follows a decrease of 6.7% in December.
While comps for the 52-week period ended Feb 2 dipped 0.9%, net sales decreased 3.1% to $885.5 million.
Sales at the company’s Men's category, which contributed nearly 50% to sales in January, were up 1% year over year for the four-week period ended Feb 2, 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 50% of the company’s monthly sales, declined 2.5% year over year during the aforementioned period.
On a combined basis, accessory sales, which constituted nearly 7.5% of the company’s January sales, dropped 4%. However, footwear sales, which accounted for almost 6.5% of net sales, increased 15%.
Currently, this Zacks Rank #3 (Hold) company operates 450 retail stores across 42 states. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apart from Buckle, Costco (COST - Free Report) , Zumiez (ZUMZ - Free Report) and L Brands (LB - Free Report) reported sales results for January. Costco and Zumiez registered comps growth of 5.2% and 3.5%, respectively. However, comps for L Brands declined 1%.
In the past six months, shares of Buckle have lost 30% compared with the industry’s 19.4% decline.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>