Josh Arnold
Long/short equity

The Buckle: 6% Yielding Retailer With Growth Prospects

The Buckle, Inc. (NYSE:BKE) is a retailer of apparel, footwear and accessories to young men and women in the US. The company sells casual apparel including jeans, shirts, sportswear, outerwear and associated accessories. The retailer operates roughly 450 retail locations and its website. Shares have been on an almost uninterrupted uptrend since 2009 as the price has risen from $10 to $57. These gains have come on very strong comparable store sales and margins accompanied by the company's robust dividend policy. With shares at all-time highs, investors are left to wonder if there is any value left in BKE shares. I'll argue here that the company's operating history, unnecessarily low expectations for growth and robust dividend policies all...

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