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Details on Industry Insight.
Are The Buckle and Urban Outfitters the only retailers in America doing well? It seems that way.
The Buckle reported this morning that sales increased 25.7 percent to $210.6 million in the third quarter. Net income rose 31 percent to $29.1 million
Same-store sales rose 19 percent.
Even though The Buckle continues to wildly outperform competitors, its stock has still been battered along with the rest of the retail sector. It closed Wednesday at $15.39, down 60 percent in two months.
Zumiez releases earnings today after the market closes. The company had been performing relatively well given the environment until September, when same-store sales plunged 9 percent. In October, the decline intensified, and same-store sales fell 13.1 percent.
I'll post a story later today after the company's earnings conference call.