© Reuters.
KEARNEY, Neb. – The Buckle, Inc. (NYSE: NYSE:), a specialty retailer, disclosed a lower in comparable retailer internet gross sales of 17.4% for the five-week interval ending February 3, 2024, in comparison with the identical interval within the earlier 12 months. Regardless of the decline in retailer gross sales, the corporate’s general internet gross sales noticed a 4.5% enhance to $72.6 million for the fiscal month.
The corporate, identified for its broad collection of denim and different attire, reported a 9.6% drop in comparable retailer gross sales for the 14-week fourth quarter, which additionally ended on February 3. This quarter’s internet gross sales decreased by 4.8% to $382.4 million in comparison with the 13-week fourth quarter of the earlier fiscal 12 months.
For the 53-week interval that concluded on February 3, 2024, The Buckle famous an 8.0% lower in year-to-date comparable retailer gross sales. The corporate’s internet gross sales for this era fell 6.3% to $1.261 billion from the prior 52-week fiscal interval’s $1.345 billion.
The Buckle operates 444 retail shops throughout 42 states and is headquartered in Kearney, Nebraska.
The knowledge on this article is predicated on a press launch assertion from The Buckle, Inc.The corporate’s monetary outcomes and different information may be accessed via their web site.
InvestingPro Insights
In gentle of The Buckle, Inc.’s latest monetary disclosures, a deeper dive into the corporate’s efficiency metrics by way of InvestingPro gives extra context to their fiscal well being. With a market capitalization of $1.92 billion and a notable Value/Earnings (P/E) ratio of 8.42, The Buckle stands as a doubtlessly enticing funding based mostly on valuation. The adjusted P/E ratio for the final twelve months as of Q3 2024 stays almost unchanged at 8.41, indicating a steady earnings valuation over time.
One of many key strengths of The Buckle is its spectacular gross revenue margin, which InvestingPro knowledge highlights as 59.16% for the final twelve months as of Q3 2024. This excessive margin is indicative of the corporate’s means to keep up profitability regardless of the reported lower in comparable retailer internet gross sales. Furthermore, The Buckle’s dedication to shareholder returns is obvious, with a considerable dividend yield of 10.06%, regardless of a latest reduce in dividend development. This dedication is additional underscored by the corporate’s observe file of sustaining dividend funds for 22 consecutive years, an InvestingPro Tip that alerts reliability in returning worth to shareholders.
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