GPS

Buckle (BKE) Falls on Dismal September Comparable Sales

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Shares of The Buckle, Inc.BKE tumbled roughly 6.5% following the company's disappointing September comparable-store sales (comps) performance. Comps for the five-week period ended Oct 3, 2015, decreased 6.7% year over year, following a 3.3% decline registered in August, and also fell short of analysts' expectations.

Buckle's net sales for September came in at $97.4 million, reflecting a 5.6% year-over-year decline. In the preceding month, net sales dropped 2.1%.

Comps for the 35-week period were down 2.8%, while net sales over the same time frame dipped 1.1% to $706.2 million from $714.2 million recorded in the year-ago period.

Apart from Buckle, retailers such as The Gap, Inc. GPS , Zumiez, Inc. ZUMZ and Stein Mart Inc. SMRT recorded comps decline of 1%, 1.8% and 2.8%, respectively.

Coming back to Buckle, sales at the company's Men's category fell 2% year over year. The category contributed nearly 42% to Buckle's September sales. Sales in the Women's category, which accounted for 58% of the company's monthly sales, declined 8% year over year. Buckle, which carries a Zacks Rank #3 (Hold), has not been able to turn the performance of its struggling Women's business around.

On a combined basis, accessory sales, which constituted nearly 9% of the company's September sales, dropped 1.5%, while footwear sales, which accounted for almost 7% of net sales, dipped 1%.

As of Oct 8, 2015, Buckle operated 465 retail stores across 44 states.

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ZUMIEZ INC (ZUMZ): Free Stock Analysis Report

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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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