The Buckle, Inc.
) reported sales data for the month of November (4 weeks ended
Nov 30, 2013). The retailer of casual apparel, footwear and
accessories for men and women witnessed a 0.6% fall in comps as
compared with the year-over-year figure (for the 4-week period
ended Dec 1, 2012). Net sales increased 4.6% to $101.2 million
from $96.7 million in the prior-year period (ended Nov 24, 2012).
For the 43-week period, Buckle witnessed a 1.1% rise in comps,
while net sales increased 3.5% to $890.2 million from $860.1
million in the year-ago period.
Despite retailers' increased investment in promotions and
lucrative discounts, traffic did not increase considerably. As a
result, companies like
L Brands, Inc
Costco Wholesale Corp.
) reported results that were below analysts' expectations.
Limited Brands posted negative comps of 5% while Costco reported
positive comps of merely 2%.
However, it appears that
J. C. Penney Company, Inc.
), which was in troubled waters, is making a turnaround. This was
evident from its comparable-store sales results for November that
surged 10.1% amid the reduced consumer spending.
Buckle witnessed an increase of 8.5% year over year in total
sales in the men's category, contributing roughly 43.0% to Nov
2013 sales. The rise reflected strong sales of denim, casual
bottoms, sweater and outerwear.
Women's category, which accounts for 57.0% of total sales for Nov
2013, marked an increase of 1.5% when compared with Nov 2012. The
rise was driven by strong sales of casual bottoms, sweaters,
outerwear footwear and accessories.
On a combined basis, accessory sales rose 16% while footwear
sales rose about 22.5% in the reported month. Notably, these two
categories are estimated to be nearly 8.5% and 6.0%,
respectively, of November's net sales.
Kearney, Nebraska-based Buckle, which currently carries a Zacks
Rank #3 (Hold), operates 452 retail stores across 43 states.
BUCKLE INC (BKE): Free Stock Analysis Report
COSTCO WHOLE CP (COST): Free Stock Analysis
PENNEY (JC) INC (JCP): Free Stock Analysis
L BRANDS INC (LB): Free Stock Analysis Report
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