Buckle (BKE) Showcases Strong Comps Performance in July
After registering 1.2% decline in June, The Buckle, Inc.’s BKE reported comparable-store sales (comps) growth for July. Comps for the four-week period ended Aug 4, 2018 increased 2.3% year over year. The company generated net sales of $68 million in July, up 12.3% year over year. We note that net sales had decreased 3.8% in the month of June.
Comps for the 26-week period ended Aug 4 slid 0.9%, while net sales tumbled 0.5% to $406 million.
Apart from July comps, this American fashion retailer reported net sales for second-quarter fiscal 2018 (ending Aug 4, 2018) which jumped 2.8% year over year to $201.1 million. Comps in the quarter improved 1.4%.
Sales at the company’s Men’s category, which contributed nearly 52.5% to sales in July, rose 6.5% 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 47.5% of the company’s monthly sales, fell 2% year over year.
On a combined basis, accessory sales, which constituted nearly 9% of the company’s July sales, dropped 3.5%. Footwear sales, which accounted for almost 6% of net sales, increased 9.5%.
As of Aug 9, 2018, Buckle operated 455 retail stores across 43 states.
Apart from Buckle, L Brands, Inc. LB, Costco Wholesale Corporation COST and The Cato Corporation CATO came out with comparable sales results for the month of July. While L Brands reported flat comparable sales, Costco and Cato increased 8.3% and 9.1%, respectively.
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