Comps Decline at Buckle

Zacks

Buckle Inc. (BKE), the leading retailer of casual apparels, footwear and accessories for men and women, came up with soft comparable-store sales (comps) results for the five-week period ended Feb 2, 2013.

The company witnessed a 2% decline in comps when compared with Jan 2012 results. However, net sales increased 30.7% to $78.8 million from $60.3 million in the comparable prior-year period.

In terms of performance, January was strong on the whole for most retailers, with other major players including Kohl's Corp. (KSS), Nordstrom Inc (JWN) and Macy’s Inc. (M) registering comps growth of over 10%.  

Buckle witnessed an increase of 35% in total sales in the men's category, which represented approximately 40.5% of the sales for January. The rise reflected strong sales of denim, accessories, woven shirts, and outerwear.

Women's category, which represented 59.5% of total sales for January, marked an increase of 27.5% in total sales when compared with Jan 2012. The company witnessed increased sales in active apparel, woven tops, accessories and footwear.

On a combined basis, accessories sales increased approximately 44%, while footwear sales jumped about 24.5% during the period under review.

The company stated that comps remained flat for the fourth-quarter of fiscal 2012, while net sales rose 7% year over year to $360.6 million. Buckle witnessed a 2.1% increase in comps for fiscal 2012, while net sales increased 5.7% year over year to $1,124 million.

Headquartered in Kearney, Neb., Buckle ended the month of January with 440 retail stores across 43 states. Currently, shares of Buckle retain a Zacks Rank #3 (Hold).  

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