The Buckle Inc.
(
BKE
) reported net sales of $86.7 million in February 2011, up 17.4%
from $73.9 million in the comparable month last year. The company's
comparable store sales soared 14.9% in the reported moth. Women's
side of business was a stronger performer in the month than the
men's.
Total sales for the men's side of business increased 14.5% year
over year and represented 39.5% of total sales for the month, down
100 bps year over year. Sales from the women's side of business
accounted for 60.5% of total sales, reflecting a handsome 19.5%
increase. Even in the year-earlier month, the women's segment
accounted for 59.5% of total business.
Pricing in the women's side of the business was steadier
compared to men's. Overall pricing was up 13.5% in the women's side
of business while the men's side saw a 6.5% increment. Average
accessory price points were down about 2.5%, but average footwear
price points were up approximately 12.0% in the month. Comfortable
winter helped drive the store-sales in the month.
In November, the categories that performed well were denim,
woven and knit shirts and tops, casual bottoms, active apparel, and
footwear. Accessory sales for men's and women's categories together
inched up approximately 1.0% in comparison to the prior-year month
while footwear business grew approximately 10.0%.
Buckle ended February with 431 retail stores in 43 states
compared with 420 stores in 41 states as of March 8, 2011. Buckle
is slated to report its fourth-quarter and fiscal 2011 results on
March 8, 2012.
The Zacks Consensus earnings estimates for the fourth quarter
and fiscal 2011 are pegged at $1.14 and $3.16, respectively.
Following the solid monthly results, an optimistic outlook prevails
around the stock. Of the eight analysts covering the stock, one
analyst raised its estimate both for the upcoming quarter and
fiscal year to reflect the company's fundamental strength.
Buckle, which mainly caters to older teens and young adults,
currently retains a Zacks #2 Rank that translates into a short-term
Buy rating. We are also maintaining our long-term Neutral
recommendation on the stock. One of its competitors,
Cato Corp.
(
CATO
) reported a 3.0% upside in total sales but a 5.0% decrease in
same-store sales in February.
BUCKLE INC (
BKE
): Free Stock Analysis Report
CATO CORP A (
CATO
): Free Stock Analysis Report
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