KEARNEY, Neb. – The Buckle, Inc. (NYSE: NYSE:), the specialty retailer, reported a 17.4% decline in comparable store net sales for the five-week period ended February 3, 2024, compared to the same period in the prior year. Despite the decline in store sales, the company’s overall net sales for the fiscal month increased 4.5% to $72.6 million.
The company, known for its wide selection of denim and other apparel, reported comparable store sales fell 9.6% for the 14-week fourth quarter, which also ended Feb. 3. Net sales in the quarter decreased 4.8% to $382.4 million compared with the 13-week fourth quarter of the previous fiscal year.
For the 53-week period ended February 3, 2024, The Buckle saw comparable store sales decline 8.0% year-to-date. The company’s net sales for the period fell 6.3% to $1.261 billion, compared with $1.345 billion in the previous 52-week fiscal period.
The Buckle operates 444 retail stores in 42 states and is headquartered in Kearney, Nebraska.
The information in this article is based on a press statement from The Buckle, Inc. The company’s financial results and other news can be found on its website.
InvestingAbout Insights
In light of The Buckle, Inc.’s recent financial disclosures, taking a deeper dive into the company’s performance metrics with InvestingPro provides additional context into its financial health. With a market capitalization of $1.92 billion and a notable price-to-earnings (P/E) ratio of 8.42, The Buckle represents a potentially attractive investment based on valuation. The trailing-twelve-month adjusted P/E ratio through the third quarter of 2024 remains virtually unchanged at 8.41, indicating stable earnings valuations over time.
One of The Buckle’s key strengths is its impressive gross margin, which stood at 59.16% for the trailing twelve months as of Q3 2024, according to InvestingPro. Net store sales. Moreover, The Buckle’s commitment to improving shareholder returns is clear, with a healthy dividend yield of 10.06% despite the recent reduction in dividend growth. This commitment is further underscored by the company’s track record of paying dividends for 22 consecutive years, which InvestingPro advises is evidence of its reliability in returning profits to shareholders.
Additionally, The Buckle’s financial strength is reflected in its liquidity position, where cash reserves exceed debt and liquid assets exceed short-term liabilities. This is a critical factor for investors given the company’s ability to navigate short-term market fluctuations. For those interested in learning more about The Buckle’s investment potential, there are over 9 additional InvestingPro tips available through InvestingPro’s comprehensive analysis at https://www.investing.com/pro/BKE. To take advantage of this information, use the coupon code PRONEWS24 to receive an additional 10% discount on annual or biennial Pro and Pro+ subscriptions.
This article was created with the help of AI and reviewed by an editor. For more information please see our Terms and Conditions.