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Buckle's (BKE) Sales Increase for September, Comps Up 2.7%

The Buckle, Inc. BKE has been witnessing strength across its men’s and women’s businesses as well as in the accessory category for a while. In addition, BKE’s online wing is consistently showing an impressive performance. Moreover, Buckle released sales data for September, wherein it reported higher sales and comparable store net sales (comps).

Shares of this on-trend apparel, accessories and footwear retailer have gained 20.2% in the past three months against the industry’s 1.6% fall.

Let’s delve deeper.

September Data

We note that comps for the five-week period ended Oct 1, 2022, grew 2.7% year over year. This followed comps increases of 4.6%, 1.8% and 5.3% for August, July and May, respectively, while the metric dipped 1.7% in June. Total net sales inched up 3.8% to $115.5 million for the month under discussion from $111.2 million reported in the prior-year five-week period ended Oct 2, 2021. Sales increased 5.8% for August, 4.2% for July and 5.1% for May. However, the metric slipped 1.5% in June.

This Kearney, NE-based entity witnessed increases in both the men’s and women’s sides of the business. While accessory was the bright spot, the footwear category continued to struggle. On the men’s and women’s sides of the business, total sales increased 5% and 0.5%, respectively, for the four-week period ended Jul 30, 2022. While the men’s business contributed to 52.5% of total sales, the women’s business accounted for 47.5%. For the fiscal month, overall price points on the men’s and women’s sides of the business were up 5% and 7.5%, respectively.

On combining the men’s and women’s categories, accessory sales for September 2022 climbed 17.5%. However, footwear sales dropped 17.5% for the same-period level. The accessory and footwear categories accounted for 10% and 7.5%, respectively, of the current fiscal September net sales. Average accessory price points increased 11.5%, while average footwear price points rose 4% for the same fiscal month.


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What’s More?

Year-to-date comps for the 35-week period ended Oct 1, 2022, rose 2.9% year over year. Net sales for the 35-week fiscal period ended Oct 1, 2022, climbed 3.4% to $844.6 million from net sales of $817.1 million recorded in the 35-week fiscal period ended Oct 2, 2021.

This presently Zacks Rank #2 (Buy) player currently operates 441 retail outlets in 42 states compared with 442 stores in 42 states as of Oct 6, 2021. This comprises the closing of one store in the fiscal September.

During the second quarter of fiscal 2022, Buckle opened two stores and completed seven remodels, five of which were relocated to the new outdoor shopping centers. For the rest of the current fiscal year, management expects to complete 11 additional full remodeling projects and inaugurate two additional stores.

3 More Retail Stocks to Bet on

Some other top-ranked stocks are Ulta Beauty ULTA, Delta Apparel DLA and Designer Brands DBI.

Ulta Beauty, the leading beauty retailer, presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Ulta Beauty’s fiscal 2022 sales suggests growth of 13.7% from the corresponding year-ago level. ULTA has a trailing four-quarter earnings surprise of 32.8%, on average.

Delta Apparel is a manufacturer of activewear and lifestyle apparel products. DLA flaunts a Zacks Rank of 2 at present.

The Zacks Consensus Estimate for Delta Apparel’s current financial-year sales and EPS suggests growth of 12.6% and 27.4%, respectively, from the year-ago corresponding figures. DLA has a trailing four-quarter earnings surprise of 34.2%, on average.

Designer Brands, the leading footwear and accessories designer, presently has a Zacks Rank of 2.

The Zacks Consensus Estimate for Designer Brands’ fiscal 2022 sales and EPS suggests growth of 6.9% and 23.5%, respectively, from the corresponding year-ago levels. DBI has a trailing four-quarter earnings surprise of 55.1%, on average.


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