After recording declining comps for two consecutive months, Buckle Inc. (BKE) posted strong same-store sales as well as total sales for the four-week period ended August 25, 2012. The increase in comps and net sales were witnessed mainly due to rises in both women’s and men's segments.
This leading retailer of casual apparels, footwear and accessories for both sexes, stated that the total sales of $100.8 million for the month of August 2012, jumped 5.7% from $95.3 million in the comparable prior-year period. Same-store sales increased 4.5% year over year for the month.
Buckle witnessed an increase of roughly 5.7% in both men’s and women’s side business, which accounted for roughly 38% and 62% of total sales, respectively, for the month.
Moreover, Buckle performed far better than its peers. One of its competitors, Cato Corp. (CATO) reported an increase of only 2.0% in total sales whereas its same-store sales remained flat during the reported month.
For Buckle, its denim, woven tops, casual bottoms, active apparel, accessories and footwear categories performed well. Accessory sales in both men's and women's categories increased roughly by 10.0% year over year, while footwear business climbed 12.5%.
For the 30-weeks period ended August 25, 2012, Buckle’s sales grew 5.9% to $580.0 million from $547.8 million in the same period last year. Year-to-date, the company’s same-store sales also increased 3.8% over the prior-year period.
Headquartered in Kearney, Nebraska, Buckle ended the month of August with 439 retail stores in 43 states compared with 428 stores in 42 states as of August 30, 2011. Buckle, which mainly caters to older teens and young adults, currently retains a Zacks #3 Rank that translates into a short-term Hold rating.Read the Full Research Report on BKE
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