The Buckle, Inc.
), retailer of casual apparel, footwear and accessories for men and
women, reported comparable-store sales (comps) growth for the
second consecutive month. Comps for July (four weeks ended Aug 2,
2014) increased 0.5% year over year following a 0.7% rise in June
comps. Share price rose 1.2% on the index after the announcement.
Apart from June & July, Buckle has reported positive comps only
once over the last 7 months, which was in Apr 2014, when comps grew
0.8% year over year. Prior to that, comps declined 3.1% in May
2014, 1.8% in Mar 2014, 1.4% in Feb 2014, 6.6% in Jan 2014, 2.8% in
Dec 2013 and 0.6% in Nov 2013. Weakness in the Women's category
remains a persistent problem for Buckle.
Apart from Buckle, other retailers like Rite Aid Corp. (
), The Cato Corp. (
) and Walgreen Co. (
) saw their comparable-store sales increase 4.6%, 4% and 5.2%
respectively, during July. Retailers benefited during the month
under review due to increasing consumer confidence, improving job
prospects and aggressive promotional strategies.
Coming back to Buckle, net sales for July totaled $79 million,
registering a 2.3% rise from the prior-year four-week period ended
Aug 3, 2013.
Sales in Buckle's Men's category rose 7.5% year over year in July,
driven mainly by strong performance of denim, casual bottoms,
footwear, knit shirts and accessories. The Men's category
contributed nearly 42.5% to July 2014 sales. Sales in the Women's
category were down 1% year over year and contributed 57.5% to the
On a combined basis, accessories sales which constituted nearly 9%
of July's net sales decreased 2%, while footwear sales which
constituted nearly 5.5% of the net sales increased 4.5%.
However, comps for the 26-week period, ended Aug 2, 2014, fell 0.7%
year over year, whereas net sales inched up 1% to $507.4 million
from the prior-year 26-week period ended Aug 3, 2013.
Buckle also came out with its second-quarter fiscal 2014 sales
results. Comps decreased 0.5% year over year whereas net sales of
$237.5 million grew 1.4% from the prior-year quarter.
Buckle is scheduled to announce second-quarter 2014 earnings on Aug
21. Our proven model does not conclusively show Buckle as likely to
beat the Zacks Consensus Estimate this quarter. This is because
Buckle carries a Zacks Rank #3 (Hold) and an
of 0.00% (as both the Zacks Consensus Estimate and the Most
Accurate Estimate stand at 53 cents).
In order to outperform, a stock needs to have both a positive
Earnings ESP and a Zacks Rank of #1, 2 or 3. The combination of
Buckle's Zacks Rank #3 and 0.0% ESP makes surprise prediction
As of Aug 6, 2014, this Kearney NE-based company operated 456
retail stores across 44 states.
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
BUCKLE INC (BKE): Free Stock Analysis Report
RITE AID CORP (RAD): Free Stock Analysis Report
WALGREEN CO (WAG): Free Stock Analysis Report
To read this article on Zacks.com click here.