Thursday, May 31, 2012

Buckle (NYSE: BKE) sales trend slows in May; nearly flat

Buckle (NYSE: BKE) sales trend slows in May; nearly flatPalm Beach, FL 5/31/12 (StreetBeat) -- Teen apparel retailer The Buckle Inc.'s (NYSE: BKE) revenue at stores open at least a year was nearly flat in May, missing analyst expectations.

The measure edged up just 0.2 percent, during the four weeks ended May 26. Analysts expected a 3.3 percent rise, according to aThomson Reuters poll.

This figure is a key indicator of a retailer's health because it excludes results from store recently opened or closed.

The results show consumers appear to have slowed spending on items like Buckle's trendy jeans and t-shirts in May from the company's first quarter, which runs from February through April. Revenue in stores open at least one year rose 7.4 percent in that period.

Total revenue for the four weeks ended May 26 rose 2.7 percent to $69.9 million.

So far this year, revenue at stores open at least a year was up 5.9 percent and total revenue increased 8.3 percent to $333.6 million.

Buckle is based in Kearney, Neb., and currently runs 423 stores in 41 states.

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