Shares of The Buckle, Inc. BKE have increased 9.9% in the past month, thanks to strength in its men’s and women’s businesses, and the accessory category. Recently, BKE also unveiled its sales data for July. BKE posted a comparable store sales increase for the month after witnessing a decline in the metric for June. The industry has rallied 11.5% in the same time frame.
Let’s Delve Deeper
We note that comparable store sales for the four-week period ended Jul 30, 2022, grew 1.8% year over year. This followed a comparable store sales decrease of 1.7% for June, while the metric increased 5.3% and 2.8% in the months of May and April, respectively. Total net sales inched up 4.2% to $110 million for the month under discussion from $97.7 million reported in the prior-year four-week period ended Jul 31, 2021. This followed a total net sales dip of 1.5% for June, with increases of 5.1% in May and 2.9% in April.
This Kearney, NE-based company witnessed increases in both the men’s and women’s sides of the business. While accessory was the bright spot, the footwear category struggled. On the men’s and women’s sides of the business, total sales increased 2.5% and 2%, respectively, for the four-week period ended Jul 30, 2022. While the men’s business contributed to 54.5% of total sales, the women’s business accounted for 45.5%. For the fiscal month, overall price points on the men’s and women’s sides of the business were up 3.5% and 6.5%, respectively.
On combining the men’s and women’s categories, accessory sales for July 2022 climbed 8.5%. However, footwear sales dropped slightly from the prior year’s number. The accessory and footwear categories accounted for 10.5% and 7%, respectively, of the current fiscal July net sales. Average accessory price points increased 8.5%, while average footwear price points rose 3.5% for the fiscal month.
For the 13-week fiscal second quarter ended Jul 30, 2022, comparable store sales rose 1.6% year over year, while net sales climbed 2.3% to $302 million. For the 26-week period ended Jul 30, 2022, comparable store sales increased 2.6% year over year, while net sales rose 2.8% to $611 million.
This presently Zacks Rank #3 (Hold) player currently operates 442 retail stores in 42 states. We note that the Zacks Consensus Estimate for Buckle’s current financial year sales and earnings per share (EPS) suggests growth of 6.5% and 2.1%, respectively, from the corresponding year-ago reported figures.
3 Hot Stocks to Buy
We highlighted three better-ranked stocks in the Retail - Wholesale sector, namely Tecnoglass TGLS, Chico's FAS CHS and Designer Brands DBI.
Tecnoglass engages in manufacturing and selling architectural glass and aluminum products for the residential and commercial construction industries. TGLS currently sports a Zacks Rank #1 (Strong Buy).
You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Tecnoglass’ current financial-year sales and EPS suggests growth of 28.2% and 28.7%, respectively, from the corresponding year-ago period's reported figures. TGLS has a trailing four-quarter earnings surprise of 24.4%, on average.
Chico's FAS, an omni-channel specialty retailer, also flaunts a Zacks Rank of 1. CHS has a trailing four-quarter earnings surprise of 330.6%, on average.
The Zacks Consensus Estimate for Chico's FAS’ current financial-year sales and EPS suggests growth of 18.8% and 80%, respectively, from the year-ago period’s corresponding numbers.
Designer Brands, a national wholesale distributor of industrial and construction supplies, currently has a Zacks Rank #2 (Buy). DBI has a trailing four-quarter earnings surprise of 102.5%, on average.
The Zacks Consensus Estimate for Designer Brands’ current financial-year sales and EPS suggests growth of 6.9% and 16.5%, respectively, from the corresponding year-ago period’s reported figures.
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Chico's FAS, Inc. (CHS) : Free Stock Analysis Report
Buckle, Inc. The (BKE) : Free Stock Analysis Report
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