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Fly News Breaks for August 7, 2015
BKE
Aug 7, 2015 | 06:32 EDT
Nomura analyst Simeon Siegel says the 9% selloff yesterday in shares of The Buckle was overdone after the retailer reported a comp miss of down 8.1%. The Buckle is most exposed to states with tax-free holiday shifts from July to August, which accounted for the majority of the comp shortfall, Siegel tells investors in a research note. He expects this trend to reverse back in August as the tax-free days shifted from July to August. Nonetheless, the analyst reiterates a Neutral rating on the stock.
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