Buckle Registers June Sales Decline Of 1.8%, Comps Down 2.4%
Portfolio Pulse from Shivani Kumaresan
Buckle Inc (NYSE:BKE) reported a decrease in comparable store net sales by 2.4% for the five weeks ended July 1, 2023, and a 1.8% decline in net sales for June to $108 million. Year-to-date comparable store net sales for the 22-week period ended July 1, 2023, decreased by 7.3%. Net sales for the 22-week fiscal period decreased by 6.5% to $480.2 million. BKE shares closed lower by 1.76% at $34.70 on Wednesday.
July 06, 2023 | 12:36 pm
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Buckle Inc reported a decrease in sales and comparable store sales, which led to a decrease in its stock price.
The decrease in sales and comparable store sales indicates a potential decrease in revenue and profitability for Buckle Inc, which could negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100