Buckle's Weekly Store Comps Beat Views, Shares Drop
Buckle (NYSE: BKE) shares dropped as much as two percent after Thursday's opening on news that same-store sales for the teen apparel retailer edged up 0.7 percent in the week ended July 5, beating expectations of a 0.6 percent decline.
That leaves the company with a year-to-date decline in same-store sales of nearly one percent compared with the same period in 2013.
The company posted total sales growth for the recent five weeks of 2.8 percent to $84.8 million from $82.5 million a year earlier. Year-to-date total sales are up just 0.8 percent to $428.4 million, from $425 million in 2013.
About 32 percent of Buckle's stock market float is held at short interest.
Buckle traded recently at $45.67, down 0.37 percent.
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