The Limited and Wet Seal shut down. The Buckle's same-store sales fell 23% in February.
BKE is closing one of its oldest stores in Lawrence, Kan.
BKE needs to use its capital to build new business model.
There is a disturbing trend among mall-based teen fashion retailers. TheLimited and Wet Seal went out of business completely in the past couple months. Vanity Shop of Grand Forks Inc. recently announced plans to close 140 Vanity stores across the country after filing for bankruptcy protection. The only reason Aeropostale (NYSE:ARO) (OTCPK:AROPQ) is still in business is because mall owners bought a piece of the company out of bankruptcy. Teen fashion retailer The Buckle (NYSE:BKE) is struggling and headed for disaster if it doesn't change course quickly.
To read more click here