Headquartered in Kearney, Nebraska,
), a leading retailer of casual apparels, footwear and accessories
for both men and women, posted weak same-store sales as well as
total sales for the five-week period ended June 30, 2012. The
decrease was witnessed mainly due to a fall in women's side
business, partially offset by marginal improvement in men's
The company stated that total sales of $79.4 million for the
month of June 2012, inched down 0.3% from $79.6 million in the
comparable prior-year period. Same-store sales dropped 2.5% year
over year for the month.
Buckle witnessed an increase of roughly 2% in the men's side
business (which accounted for roughly 44% of total sales for the
month), whereas the women's side business - representing
approximately 56% of total sales - fell 1.5% for the five week
period ended June 30, 2012.
However, the company performed far better than its peer. One of
) reported a fall of 7.0% and 10.0% in total sales and same-store
sales, respectively, in June.
For Buckle, the company's denim, woven tops, casual bottoms,
active apparel, accessories and footwear categories performed well
in June. Accessory sales for men's and women's categories together
increased roughly 16.0% year over year while footwear business
For the 22-weeks period ended June 30, 2012, Buckle's sales
jumped 6.5% to $413.0 million from $387.8 million in the same
period last year. Year-to-date, company's same-store sales also
increased 4.2% over the prior year period.
The company ended the month of June with 435 retail stores in 43
states compared with 424 stores in 41 states as of July 5, 2011.
Buckle, which mainly caters to older teens and young adults,
currently retains a Zacks #3 Rank that translates into a short-term
Hold rating. We are maintaining our long-term Neutral
recommendation on the stock.
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