Shares of The Buckle, Inc.BKE declined roughly 9.2% following a disappointing April comparable-store sales (comps) performance. Comps for the four-week period ended Apr 30, 2016, fell 13.2% year over year, continuing the trend of decline - 11.8% in March, 8.9% in February and 11.3% in January.
This Zacks Rank #4 (Sell) company generated net sales of $65.2 million in April, down 12.3% year over year. Net sales decreased 11% in March, 7.7% in February and 10.1% in January.
Sales at the company's Men's category tumbled 3% year over year. The category contributed nearly 45.5% to Buckle's April sales. Sales in the Women's category, which represented 54.5% of the company's monthly sales, declined 12.5% year over year. Buckle has not been able to turn the performance of its struggling Women's business around.
On a combined basis, accessory sales, which constituted nearly 8.5% of the company's April sales, dropped 1.5%, while footwear sales, which accounted for almost 7% of net sales, fell 3%.
Comps for the thirteen-week period ended Apr 30, 2016, went down 11.1%, while net sales over the same time frame fell 10.2% to $243.5 million from $271.3 million recorded in the year-ago period.
As of May 5, 2016, Buckle operated 467 retail stores across 44 states.
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