Zumiez quarter scores below planned sales
Zumiez Lowers Guidance as October Misses Plan
Surfersvillage Global Surf News, 1 November, 2012 : - - Zumiez Inc. announced that sales for the four-week period ended Oct. 27, increased 20.2 percent to $41.9 million, compared to $34.9 million for the four-week period ended Oct. 29, 2011. Comparable store sales increased 0.6 percent for the four-week period, on top of a comparable store sales increase of 3.3 percent in the year ago period.
The company's third quarter (13-weeks) comparable store sales were 3.7 percent on top of 6.0 percent in the prior year quarter (13-weeks).
Based on total sales results for the quarter that were below planned sales, primarily due to a challenging sales environment in Europe, the company is revising guidance and now expects fiscal 2012 third quarter net income per diluted share of approximately 38 cents to 39 cents, a decrease from the previously issued guidance of net income per diluted share of approximately 42 cents to 45 cents.
This guidance includes previously disclosed costs in conjunction with the acquisition of Blue Tomato of approximately $4.0 million, or 10 cents per diluted share.
Source: Board Sport Source
Author: The Editors
Tags: Surf Industry, Retail, Zumiez