The Buckle, Inc. BKE came out with comparable store net sales (comps) for the four-week period ended Nov 2, 2019. Notably, comps grew 8.5%, marking the third straight month of improvement. This follows an increase of 3% and 3.1% in September and August, respectively. Net sales for October improved 8% year over year to $69.6 million, which reflects significant increase from 2.5% growth in the previous month.
In the month under review, total sales at the men’s unit increased 8.5% year over year. The same contributed 51% to the company’s revenues. Also, Buckle is progressing well with the women’s business. Sales in the women’s category, which represented 49% of sales, grew 4.5% year over year.
With men’s and women’s categories combined, accessory sales in October increased 9.5%, while footwear sales grew 23.5% from the year-ago figure.
Additionally, management revealed sales figures for the third quarter (13-week period) ended Nov 2, 2019. During this period, comps improved 4.7% year over year, while net sales increased 4.2% to $224.1 million.
Also, the company reported sales numbers for the 39-week period ended Nov 2. Comps for the said period grew 1.8% year over year, while net sales improved 1.3% to $629.3 million.
Buckle is on track with efforts such as enhancing marketing efficiency, store remodeling and technology upgrades. These are likely to aid the company’s performance in the forthcoming period, thereby boosting investors’ sentiments.
In the past three months, shares of this Zacks Rank #1 (Strong Buy) company have increased 35.2%, outperforming the industry’s growth of 5.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Currently, Buckle operates 449 retail stores across 42 states.
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Buckle, Inc. (The) (BKE) : Free Stock Analysis Report
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