August delivered some mixed numbers for retailers Buckle Inc BKE 0.86%, Gap Inc GPS 1.56% and L Brands Inc LB 2.6%. In a new report, Wedbush analyst Morry Brown discussed August sales numbers for the three retailers.

In terms of same-store sales (SSS), L Brands came in slightly ahead of expectations for the month, while Gap fell slightly below expectations. Buckle, on the other hand, reported a -14.8 percent comp in August, well short of consensus expectations of -8.8 percent.

“We believe the shift in fashion away from embellishment-heavy items (higher AUR) toward simple styles (lower AUR) will continue to pressure top and bottom line results,” Brown said of Buckle.

In light of the disappointing numbers, Wedbush dialed back its 2016/2017/2018 EPS estimates for Buckle from $2.45/$2.46/$2.47 to $2.33/$2.32/$2.33. In addition, the firm lowered its price target for the stock from $22 to $21.

Brown also noted…

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