Thursday, September 3, 2009

August Same-Store Sales Out For The Buckle

This morning, demin, other casual apparel, and footwear vender The Buckle released its August same-store sales figure. Sent out before the bell, the release said that the chain's sales on that basis rose 3.6%.

That result wasn't bad, but for a (perhaps formerly) fast grower like The Buckle, it wasn't very good either. According to the same story, the retailer's same-store sales for all of 2009 were up 11.3% as compared to the same period a year ago. The company's July slip is what got it in the Bin in the first place.

Today, though, The Buckle stock was actually up 1.35%. Its stock fell in the early morning, but recovered in the afternoon. In the end, the market shrugged off the most recent same-store figure.

I earlier wrote an analysis of the company, which offered the opinion that any further slowdown has been discounted. So far, there's little call to change that opinion, even though August is one of The Buckle's big earner months. Hard evidence of margin erosion will have to wait the company's next quarterly.

Disclosure: I'm holding The Buckle in the actively-managed Marketocracy mock fund I run.

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