Buckle (BKE) Down 7% on Soft Comps Performance in September

Shares of The Buckle, Inc . BKE fell 7.4% on Oct 11 as investors were concerned about the company's dismal comparable sales (comps) performance in September. Comps for the five-week period ended Oct 6 decreased 2.4% year over year. Prior to this, the company witnessed comps decline of 0.7% and 1.2% in August and June, respectively, and a rise of 2.3% in July.

The company generated net sales of $75.4 million in September, down 3.2% year over year. Net sales decreased 6.3% in August. Comps for the 35-week period ended Oct 6 declined 1.1%, while net sales tumbled 1.7% to $556.6 million.

Sales at the company's Men's category, which contributed nearly 49% to sales in September, fell 0.5% year over year. Moreover, the company has not been able to revive the performance of the struggling Women's business. Sales in the Women's category, which represented 51% of the company's monthly sales, declined 8% year over year.

Accessory sales, which constituted nearly 8.5% of the company's September sales, dropped 7%. Footwear sales, which accounted for almost 7% of net sales, decreased 2%.

Buckle currently operates 454 retail outlets across 43 states.

Apart from Buckle, L Brands, Inc. LB , Costco Wholesale Corporation COST and The Cato Corp. CATO came out with comparable sales results for September. Costco and L Brands registered comps growth of 8.4% and 5%, respectively. On the contrary, Cato witnessed comps decline of 1%.

Notably, shares of Buckle have lost 15.3% in the past three months compared with the industry 's decline of 9.1%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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