Buckle (BKE) Showcases Soft Comps Performance in October

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The Buckle, Inc.'sBKE comparable-store sales (comps) for October slid 1%, following a decline of 2.4% in the preceding month In August and June, the company witnessed comps decline of 0.7% and 1.2%, respectively. However, the metric improved 2.3% in July. Net sales came in at $64.5 million in October, down 2.5% year over year. This follows a decrease of 3.2% in September.

While comps for the 13-week third quarter (ended Nov 3) dipped 1.4%, net sales decreased 4.1% to $215.1 million. Comps for the 39-week period (ended Nov 3) fell 1.1%, while net sales declined 1.8% to $621.1 million.

Sales at the company's Men's category, which contributed nearly 50.5% to sales in October, fell 1% 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 49.5% of the company's monthly sales, declined 6.5% year over year.

On a combined basis, accessory sales, which constituted nearly 7.5% of the company's October sales, dropped 11%. However, footwear sales that accounted for almost 7.5% of net sales increased 9%.

Currently, Buckle operated 453 retail stores across 43 states.

Apart from Buckle, Costco COST , L Brands LB and Zumiez ZUMZ came out with comparable sales results for October. Costco, L Brands and Zumiez registered comps growth of 8.6%, 4% and 1.6%, respectively.

In the past three months, shares of this Zacks Rank #4 (Sell) stock have lost 11.4% compared with the industry 's 3.5% decline.

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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