The Buckle, Inc.
) came up with better-than-expected sales for the month of
August. Buckle, the retailer of casual apparels, footwear and
accessories for men and women, witnessed a 1% rise in comps when
compared with Aug 2012 results.
Net sales increased 0.3% to $101.1 million from $100.8 million
in the prior-year period. For the 30-week period ended Aug 31,
2013, Buckle witnessed a 2% rise in comps, while net sales
increased 4% to $603.3 million from $580 million in the year-ago
On the whole, retailers came up with mixed sales results for
August. The month got off to a slow start and the shift in
consumers' shopping preferences toward big-ticket items hurt
sales of apparel, shoes and accessories. However, sales picked up
later as retailers spent more on promotions and came up with
lucrative discounts to drive traffic. However, heavy discounts
raise concerns about margins.
Stein Mart Inc
), impressed analysts by posting a 3.8% rise in comps, while
The Gap, Inc
), witnessed a 2% increase in comps. However,
The Cato Corporation
) reported a decline of 2% in comps for the month of August.
Coming back to Buckle, it witnessed an increase of 3% in total
sales in the men's category, which comprised roughly 39.5% of Aug
2013 sales. The rise reflected strong sales of denim,
accessories, knit shirts and shorts.
Women's category, which represents 60.5% of total sales for
Aug 2013, marked a decrease of 2.5% when compared with Aug 2012.
Despite sales decline, the category witnessed increased sales in
footwear, accessories, woven tops, shorts, outerwear, skirts and
On a combined basis, accessory sales remained flat, while
footwear sales rose about 1.5% during the period under
The company closed one store during the month and now operates
through 451 retail stores across 43 states. Headquartered in
Kearney, Neb., shares of Buckle currently carry a Zacks Rank #3
BUCKLE INC (BKE): Free Stock Analysis Report
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GAP INC (GPS): Free Stock Analysis Report
STEIN MART INC (SMRT): Free Stock Analysis
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