+ Watch BKE
on My Watchlist
The Company is a retailer of medium to better-priced casual apparel, footwear and accessories for fashion conscious young men and women.
BKE consistently achieves high net margins around 14% while growing monthly same-store sales around 1% to 2.5%. The company grows store count conservatively, using top in-house talent for new stores. Plenty of room to grow at 445 stores. Solid balance sheet, $128 million in cash and no debt. Typically pays special dividend every fall. I expect 2013 special dividend to be around $3.25 per share.
I just bought another 30 shares of BKE this morning at 49.009 per share after company reported -4.5 drop in same store sales in September. This is largest same-store sales drop this year, but the overall trend for same-store sales is still up 1% year to date. September was a tough month for all retailers. BKE will weather the downturn and bounce back for the holiday season. I've been buying this stock on the dips like today for five years. It's always paid off.
I bought another 34 shares BKE at $47.62. In down-trend like this, I like to buy in fourths and fifths, so that I don't spend all my money at one price. I started buying at 49 and have made several trades following it down today. It appears my last trade was near the daily low of 47.50, it may go lower.
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