The Buckle, Inc. (BKE) came up with healthy comparable-store sales (comps) results for the month of June. Buckle, the retailer of casual apparels, footwear and accessories for men and women, witnessed a 3.4% rise in comps when compared with Jun 2012 results.
Net sales increased 3.9% to $82.5 million from $79.4 million in the prior-year period. For the 22-week period ended Jul 6, 2013, Buckle witnessed a 2.2% rise in comps, while net sales increased 2.9% to $425 million from $413 million in the year-ago period.
Besides Buckle, other retail chains also posted healthy sales results for the month of June as improving job market, lower gas prices, warmer weather and clearance discounts boosted consumer sentiment.
Clothing chain, The Gap, Inc. (GPS) registered a 7% rise in comps, while net sales jumped 8% to $1.53 billion. Off-price retailer of apparels, footwear and accessories, Stein Mart Inc. (SMRT) was another strong performer of the month. The company registered a 6.5% rise in June comps, while total sales increased 2.6% to $109 million.
Discount store operator, Fred's, Inc. (FRED), marked a significant improvement as the company witnessed a 4.5% rise in comps, substantially up from the 4% decrease witnessed in Jun 2012. Net sales for June increased 3% to $187.7 million.
Coming back to Buckle, it witnessed an increase of 6.5% in total sales in the men's category, which comprised roughly 45% of Jun 2013 sales. The rise reflected strong sales of denim, accessories, knit shirts and active apparel.
Women's category, which represents 55% of total sales for Jun 2013, marked an increase of 1.5% when compared with Jun 2012. The category witnessed increased sales in footwear, woven tops, active apparel and dresses.
On a combined basis, accessory sales declined approximately 5%, while footwear sales rose about 5% during the period under review.
The company opened 1 new store during the month and operates through 445 retail stores across 43 states. Headquartered in Kearney, Neb., shares of Buckle currently carry a Zacks Rank #4 (Sell).Read the Full Research Report on GPS
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