Zumiez Up 6% - Q1 Sales Jump, Beat Estimates; Comp-Store Sales Gain 1.8%Stephanie Stanton (Author) Published Date : May 30, 2014 01:16 IST
Clothing retailer Zumiez (ZUMZ) is higher after it reported late Thursday a 9.7% jump in net sales for the fiscal Q1, beating analysts' expectations, and a 1.8% increase in same-store sales. Shares are up 6% at $28.86 in late-morning trading, with a 52-week range of $20.68 - $32.93. Sales rose to $162.9 million in the three-month period ended May 3, from $148.5 million in the year-earlier period. The average of 19 analysts' estimates compiled by Capital IQ was $159.2 million. Net income was $2.5 million, or $0.09 per diluted share, in the first quarter, compared to $2.5 million, or $0.08 per diluted share, a year earlier. The results for fiscal 2014 include costs of $0.01 per diluted share, for charges associated with the acquisition of Blue Tomato, while the results for fiscal 2013 include $0.05 per diluted share, for charges associated with the acquisition of Blue Tomato. Wall Street was looking for earnings of $0.05 per share. Comparable sales increased 1.8% in the first quarter, compared to a comparable store sales decrease of 0.7% a year earlier. For the fiscal second quarter, the Lynnwood, Washington-based company projects sales to be in the range of $167 to $171 million. Analysts on average are looking for sales of $170.8 million.
Zumiez Up 6% - Q1 Sales Jump, Beat Estimates; Comp-Store Sales Gain 1.8%