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Posted
2/11/2013 3:20:01 PM
Referenced Stocks:BKE;JWN;KSS;M
Buckle Inc. ( BKE ), the leading retailer of casual apparels, footwear and accessories for men and women, came up with soft comparable-store sales (comps) results for the five-week period ended Feb 2, 2013. The company witnessed a 2% decline in comps when compared with Jan 2012 results. However, net sales increased 30.7% to $78.8 million from $60.3 million in the comparable prior-year period. In terms of performance, January was strong on the whole for most retailers, with other major players including Kohl's Corp. ( KSS ), Nordstrom Inc ( JWN ) and Macy's Inc. ( M ) registering comps growth of over 10%. Buckle witnessed an increase of 35% in total sales in the men's category, which represented approximately 40.5% of the sales for January. The rise reflected strong sales of denim, accessories, woven shirts, and outerwear. Women's category, which represented 59.5% of total sales for January, marked an increase of 27.5% in total sales when compared with Jan 2012. The company witnessed increased sales in active apparel, woven tops, accessories and footwear. On a combined basis, accessories sales increased approximately 44%, while footwear sales jumped about 24.5% during the period under review. The company stated that comps remained flat for the fourth-quarter of fiscal 2012, while net sales rose 7% year over year to $360.6 million. Buckle witnessed a 2.1% increase in comps for fiscal 2012, while net sales increased 5.7% year over year to $1,124 million. Headquartered in Kearney, Neb., Buckle ended the month of January with 440 retail stores across 43 states. Currently, shares of Buckle retain a Zacks Rank #3 (Hold). BUCKLE INC (BKE): Free Stock Analysis Report NORDSTROM INC (JWN): Free Stock Analysis Report KOHLS CORP (KSS): Free Stock Analysis Report MACYS INC (M): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research |
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