KEARNEY, Neb. - The Buckle, Inc. (NYSE: NYSE:BKE), a specialty retailer known for its denim and apparel offerings, has reported a decrease in comparable store net sales for the month ending October 5, 2024. The company, which operates 443 stores across 42 states, noted a 4.3 percent drop in sales compared to the same period last year.
For the 5-week fiscal month ending on October 5, 2024, The Buckle's net sales fell to $100.6 million, a 2.5 percent decrease from $103.1 million during the corresponding month in 2023. Year-to-date figures also reflected a downward trend, with net sales for the 35-week period ending on the same date totaling $750.5 million, down 5.1 percent from $790.9 million for the prior year's comparable period.
This decline in sales performance comes despite the company's efforts to maintain its market position as a provider of high-quality, on-trend apparel and accessories. The Buckle emphasizes exceptional service and style, branding itself as a "denim destination" with a wide selection of products from leading brands and its exclusive label, BKE.
The reported sales figures are compared to the 5-week and 35-week periods ending October 7, 2023. It is important to note that the fiscal year 2023 included a 53rd week, which is taken into consideration when assessing comparable store net sales.
The Buckle's financial performance is subject to various risks and uncertainties, and future results may differ materially from current projections. Factors outside of the company's control, as outlined in their filings with the Securities and Exchange Commission, may influence financial outcomes.
The company has made these figures public as part of its regular financial reporting and provides a recorded monthly sales commentary accessible via phone. This report is based on a press release statement from The Buckle, Inc.
In other recent news, The Buckle, Inc. has reported a series of noteworthy developments. The company announced a quarterly dividend of $0.35 per share, scheduled for disbursement in October. Additionally, The Buckle posted robust second-quarter earnings and revenue, surpassing analyst projections. The adjusted earnings per share were reported at $0.78, beating the analyst consensus of $0.76, and revenue reached $282.4 million, exceeding expectations of $272.41 million.
However, the company observed a decrease in sales by 3.4% compared to the same quarter last year, with comparable store sales and online sales also experiencing a drop. In terms of monthly sales for August, while comparable store net sales for the 4-week period saw a slight rise of 1.7 percent from the same period in the prior year, total net sales for the month fell by 6.6 percent to $105.1 million. For the 30-week period ended in August, the retailer reported a downturn, with comparable store net sales declining by 6.3 percent and total net sales dropping 5.5 percent to $650.0 million.
These recent developments underline the company's resilience amid a challenging retail environment. As always, these financial results and future performance are subject to risks and uncertainties, some of which are beyond the company's control.
InvestingPro Insights
Despite The Buckle's recent sales decline, InvestingPro data reveals some intriguing financial aspects that paint a more nuanced picture of the company's position. The retailer boasts a robust gross profit margin of 58.98% for the last twelve months as of Q2 2025, underscoring its ability to maintain pricing power in a competitive market. This aligns with one of the InvestingPro Tips, which highlights The Buckle's "impressive gross profit margins."
Another notable metric is the company's dividend yield, standing at a substantial 9.4% as of the latest data. This generous payout is consistent with the InvestingPro Tip that The Buckle "pays a significant dividend to shareholders." Moreover, the company has maintained dividend payments for 22 consecutive years, demonstrating a commitment to shareholder returns even in challenging retail environments.
The Buckle's P/E ratio of 10.06 suggests that the stock may be undervalued relative to its earnings, potentially offering an attractive entry point for investors looking beyond short-term sales fluctuations. This valuation metric, coupled with the company's strong dividend history, may explain why The Buckle has shown a "strong return over the last five years," as noted in another InvestingPro Tip.
For readers interested in a deeper analysis, InvestingPro offers 5 additional tips that could provide further insights into The Buckle's financial health and market position. These additional tips, along with real-time metrics, can be invaluable for investors seeking to make informed decisions in the ever-changing retail sector.
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