Buckle's Solid September Comparable Sales Cheer Investors

The Buckle, Inc. BKE came out with comparable store net sales (comps) for the five-week period ended Oct 5, 2019. Notably, comps increased 3%, slightly lower than an increase of 3.1% in the preceding month. Net sales for the month under review improved 2.5% year over year to $77.3 million.

Following a decent comps performance, shares of this Zacks Rank #2 (Buy) company rose approximately 6% during the trading session on Oct 10. Moreover, shares of this Kearney, NE-based company have increased 17% in the past three months, outperforming the industry’s 15.8% decline.

In September, total sales at the men’s unit — which contributed nearly 49% to its revenues — jumped 4.5% year over year. Also, Buckle is progressing well with the women’s business. Sales in the women’s category, which represented 51% of sales, grew 4% year over year during the said period.

With men’s and women’s categories combined, accessory sales in September increased around 7%, while footwear sales grew approximately 20% from a year ago.

Additionally, management revealed sales figures for the 35-week period ended Oct 5. During this period, comps improved 1% year over year, while net sales increased 0.5% to $559.6 million.

Buckle is on track with efforts such as enhancing marketing efficiency, store remodeling and technology upgrades. These are likely to aid the company’s performance in the forthcoming periods, thereby boosting investors’ sentiments.

Currently, Buckle operates 449 retail stores across 42 states.

3 More Stocks to Watch

Zumiez Inc. ZUMZ has a long-term earnings growth rate of 12% and a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Capri Holdings Limited CPRI has a long-term earnings growth rate of 5.7% and a Zacks Rank #2.

Canada Goose Holdings Inc. GOOS has a long-term earnings growth rate of 28.5% and a Zacks Rank #2.

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.      

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.   

See the pot trades we're targeting>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Zumiez Inc. (ZUMZ) : Free Stock Analysis Report
 
Buckle, Inc. (The) (BKE) : Free Stock Analysis Report
 
Canada Goose Holdings Inc. (GOOS) : Free Stock Analysis Report
 
Capri Holdings Limited (CPRI) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research