The Buckle (BKE) Comps Fell 16.2% in Nov., Wider than Expected
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The Buckle, Inc. (NYSE: BKE) announced that comparable store net sales, for stores open at least one year, for the 4-week period ended November 26, 2016 decreased 16.2 percent in comparison to comparable store net sales for the 4-week period ended November 28, 2015. Net sales for the 4-week fiscal month ended November 26, 2016 decreased 15.9 percent to $81.5 million compared to net sales of $96.9 million for the prior year 4-week fiscal month ended November 28, 2015.
*** The Street was looking for comps to fall 12.6 percent for the month.
Comparable store net sales year-to-date for the 43-week period ended November 26, 2016 decreased 12.9 percent from comparable store net sales for the 43-week period ended November 28, 2015. Net sales for the 43-week fiscal period ended November 26, 2016 decreased 12.2 percent to $776.5 million from net sales of $884.5 million for the prior year 43-week fiscal period ended November 28, 2015.
Please note that net sales for the 4-week and 43-week periods ended November 26, 2016 are reported net of the impact of both reward redemptions and accruals for estimated future rewards related to the Company’s new Guest Loyalty program, which launched during the fiscal quarter ended April 30, 2016.
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