The Buckle, Inc. BKE posted sales information for March. Markedly, this Zacks Rank #2 (Buy) company’s comparable-store sales (comps) for the five-week period ended Apr 6, 2019, inched up 0.5%. After reporting dismal monthly comps for quite some time now, this slight improvement came as a breather. Further, net sales for the month remained flat year on year at $82.3 million.
In March, total sales at the men’s unit, which contributed nearly 50.5% to sales, increased slightly year over year. However, Buckle has not been able to revive the performance of the struggling women’s business. Sales in the women’s category, which represented 49.5% of sales, declined 2% year over year during the said period.
Further, the company’s accessory and footwear sales are included within the men’s and women’s units. Accessory sales for March dropped 0.5%, while footwear sales increased 12.5%.
Additionally, management revealed sales information for the 9-week period ended Apr 6. During this period, comps dipped 2.7% year over year, while net sales decreased 3.1% to $141.7 million. In fact, the company’s comps declined 6.8% and 2.2% in February and January, respectively. Prior to this, in December, October, September and August of 2018, the company witnessed comps decline of 0.2%, 1%, 2.4% and 0.7%, respectively.
Notably, shares of this Kearney, NE-based company have lost 3.4% in the past month, underperforming the industry’s decline of 2.1%.
Nevertheless, Buckle is on track with efforts such as enhancing marketing efficiency, store remodelling and technology upgrades. These are likely to aid the company’s performance in the forthcoming periods, thereby boosting investors’ sentiments.
Currently, Buckle operates 450 retail stores across 42 states.
3 More Stocks to Watch Out
Foot Locker FL has long-term earnings growth rate of 9.5% and a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Skechers SKX has long-term earnings growth rate of 7% and a Zacks Rank #2.
Carter’s, Inc. CRI has long-term earnings growth rate of 8% and a Zacks Rank #2.
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