The Buckle's May Net Sales falls 10.4% and COMPS 11%

The Buckle, Inc. BKE reported that its May monthly sales witnessed a drop of 10.4 percent to $67.4 million from $75.2 million in the year-ago month. Its comparable store sales for the 4-week period ended May 28 also fell 11.0 percent in comparison with the previous year month. For the year-to-date period, the Buckle said that its comparable store sales dropped 11.1 percent on a YOY basis. Net sales for the same period also fell 10.3 percent to $310.9 million from $346.6 million in the same period previous year. The Buckle pointed out that both the periods were reported net of the impact of both reward redemptions, as well as, accruals for estimated future rewards related to its new Guest Loyalty program, which launched during the fiscal quarter ended April 30, 2016. On Wednesday, the stock traded 0.49 percent higher.