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Buckle’s (BKE) November Comps Down, Dismal Run Persists

Zacks

The Buckle Inc. BKE posted November sales results, which marked the company’s fourth straight month of dismal comparable sales. It looks like the drab past performance has been denting investors’ confidence in the company.

Evidently, this Zacks Rank #4 (Sell) stock has lost 30.3% in the past six months compared with the industry’s 12% decline.

Coming to the monthly numbers, Buckle reported a 0.6% decline in comps for the four-week period ended Dec 1, after registering a decline of 0.7%, 2.4% and 1% in August, September and October, respectively. However, net sales for November increased 3.9% to $81.3 billion.


Comps for the 43-week year to date (ended Dec 1) dipped 1%. Net sales inched down 1.1% to $702.4 million.

Sales at the company’s Men's category, which contributed nearly 55.5% to sales in November, inched up a bit in a year. However, the company has not been able to revive the performance of the struggling Women’s business. Sales in the Women’s category, which represented 44.5% of the company’s monthly sales, declined 4.5% year over year.

On a combined basis, the accessory business, which constituted nearly 8% of the company’s November sales, dropped 7.5%. However, footwear category that accounted for almost 7% of net sales increased 12%.

Currently, Buckle operates 453 retail stores across 43 states.

Unlike Buckle, Costco COST, L Brands LB and Zumiez ZUMZ delivered positive comps for the month of November. Markedly, Costco, L Brands and Zumiez registered comps growth of 9.2%, 9% and 2.3%, respectively.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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