Buckle Inc (BKE) net sales for May 2020 down -16.8% compared to May 2019
Buckle currently operates 449 retail stores in 42 states. As of the end of the fiscal quarter, it operated 449 stores in 42 states compared with 453 stores in 43 states at the end of the third quarter of fiscal 2018."
More About Buckle (BKE)
Offering a unique mix of high-quality, on-trend apparel, accessories, and footwear, Buckle caters to fashion-conscious young men and women. Known as a denim destination, each store carries a wide selection of fits, styles, and finishes from leading denim brands, including the Company’s exclusive brand, BKE. Headquartered in Kearney, Nebraska, Buckle currently operates 449 retail stores in 42 states. As of the end of the fiscal quarter, it operated 449 stores in 42 states compared with 453 stores in 43 states at the end of the third quarter of fiscal 2018.
Buckle sales for the month of May 2020
KEARNEY, NE -- The Buckle, Inc. (NYSE: BKE) announced today that total net sales for the 4-week fiscal month ended May 30, 2020 decreased 16.8 percent to $51.2 million from net sales of $61.5 million for the prior year 4-week fiscal month ended June 1, 2019. Net sales for the 17-week fiscal period ended May 30, 2020 decreased 36.6 percent to $166.6 million from net sales of $262.8 million for the prior year 17-week fiscal period ended June 1, 2019. As previously announced, Buckle closed all brick and mortar stores due to the COVID-19 pandemic for an indefinite period beginning March 18, 2020.
The Company began the process of reopening certain stores the week of April 26, 2020, following state and local reopening guidelines. As of May 30, 2020, 367 stores had reopened, with approximately 30 additional stores reopening the week of May 31, 2020. The Company’s online store has remained open without interruption. As a result of the store closures, the Company plans to only report total net sales each month and does not plan to separately report comparable store sales during this time. Further, the Company will not provide additional commentary through its recorded monthly sales narrative during this time. The Company will continue to evaluate the appropriate time to resume its regular monthly sales reporting as normal business operations resume.
The Company began the process of reopening certain stores the week of April 26, 2020, following state and local reopening guidelines. As of May 30, 2020, 367 stores had reopened, with approximately 30 additional stores reopening the week of May 31, 2020. The Company’s online store has remained open without interruption. As a result of the store closures, the Company plans to only report total net sales each month and does not plan to separately report comparable store sales during this time. Further, the Company will not provide additional commentary through its recorded monthly sales narrative during this time. The Company will continue to evaluate the appropriate time to resume its regular monthly sales reporting as normal business operations resume.
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Buckle Inc (BKE) stock price history
The image below shows the stock price history of Buckle (BKE) over the last 3 years. And it's not been a good time for Buckle (BKE) stockholders over the last 3 years. Over the last 3 years the stock of Buckle (BKE) declined by -13.15%. And the bulk of their stock price decline has been since the start of 2020, as the coronavirus pandemic hit world economies and saw lockdowns and stay at home orders in the USA and across the world.
Our latest stock valuation of Buckle (11 June 2020)
So based on Buckle's latest earnings report what do we value the company's stock at? Based on Buckle's earnings report our valuation model we have a target (full value) price for Buckle's at $24.70 a stock (down slightly from our 4th quarter 2019 earnings report valuation of Buckle). We therefore believe the stock of Buckle is undervalued
We usually recommend that long term fundamental or value investors look to enter a stock at least 10% below our target (full value) price which in this case is $24.70. A good entry point into the stock of Buckle would therefore be at $22.20 or below. Since the stock of Buckle's is trading at well below our suggested entry point we rate Buckle as a buy
We usually recommend that long term fundamental or value investors look to enter a stock at least 10% below our target (full value) price which in this case is $24.70. A good entry point into the stock of Buckle would therefore be at $22.20 or below. Since the stock of Buckle's is trading at well below our suggested entry point we rate Buckle as a buy