The Buckle, Inc. (BKE) recently posted same-store sales as well as total sales results for the five-week period ended September 29, 2012. The company has witnessed a slight decline in its comps for the month mainly due to fall in women’s segment, which was partially offset by rise in men's segment.
This leading retailer of casual apparels, footwear and accessories for both sexes, stated that the total sales of $99.1 million for the month of September 2012, inched up 0.8% from $98.4 million in the comparable prior-year period, whereas same-store sales crept down 0.8% year over year for the month.
Buckle witnessed an increase of roughly 2.5% in men’s side business, which accounted for roughly 38% of total sales for the month, whereas there was a slight decline in women’s side business compared with the prior-year quarter and accounted for 62% of total sales.
The company’s denim, woven tops, casual bottoms, active apparel, accessories and footwear categories performed well. Accessory sales for in both men's and women's categories increased roughly by 5.0% year over year, while footwear business climbed 7.0%.
For the 35-weeks period ended September 29, 2012, Buckle’s sales grew 5.1% to $679.2 million from $646.2 million in the same period last year. Year-to-date, the company’s same-store sales also increased 3.1% over the prior-year period.
Buckle has consistently performed far better than its peers. One of its competitors, Cato Corp. (CATO) reported a decline of about 4.0% in same-store sales during the reported month.
Headquartered in Kearney, Nebraska, Buckle ended the month of September with 440 retail stores in 43 states comprising of one new store opened in the reported month. 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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