Zumiez, Inc. (NASDAQ: ZUMZ)
Shares of Zumiez, Inc. gained 14.81% to $31.00 before the opening bell on Friday after the company released its quarterly earnings results late Thursday. The Washington-based apparel retailer easily surpassed Wall Street revenue and earnings expectations.
They also announced same-store sales growth of 8.3% on a year-over-year basis and issued a strong guidance for the second-quarter based on the results.
The stock ended regular trading session on Thursday with a gain of $0.35, or 1.31%. It has risen 30% since the start of the year.
ZUMZ Earnings & Outlook
The company reported a net loss of $2.6 million, or $0.10 per share in the first quarter ended May 5, 2018. In the same period last year, the company had a net loss of $4.4 million, or $0.18 per share.
Sales were $206.3 million, up 14% from the year-ago figure of $181.2 million. Comparable-store sales grew 8.3%, versus a comparable-store sales growth of 1.8% last year.
Wall Street expected quarterly sales of $199 million and a loss of $0.12 per share, according to Thompson Reuters.
For the second quarter, the company anticipates net income per share of around $0.04 to $0.09. It expects sales in the range of between $213 million and $217 million, and comparable-store sales growth in the range of between 3% and 5%.
Zumiez CEO Comments
Commenting on the results, Zumiez chief executive officer Rick Brooks, said, “Our new fiscal year is off to a very good start. The strong top-line momentum we achieved in 2017 accelerated during the first quarter fueled by the strength of our assortments and the seamless shopping experience we’ve created for consumers who interact with our brand.”
Brooks continued, “With comparable sales increasing 8.3%, we generated significant expense leverage and dramatically improved our bottom line performance year-over-year. We are confident that we are on the right path to further expand our global market share and drive increased value for our customers, our employees, our brand partners, and our shareholders over the long-term.”
Zumiez, Inc. Company Profile
Zumiez Inc. is a specialty retailer of apparel, hardgoods, accessories, and footwear for young women and men.
The company’s apparels include outwear, tops, bottoms, and accessories like backpacks, caps, belts, bags, sunglasses, jewelry. Its hardgoods include skateboards, ancillary gear, snowboards, boots, and bindings.
For women, the company offers cardigans, joggers, t-shirts, leggings, tank tops, dresses, hoodies, sweatshirts, jackets, skirts, jeans, among others.
The company operated a total of 700 stores, including 7 stores in Australia, 35 stores in Europe, 608 stores in the U.S., 50 stores in Canada under the names of Fast Times, Zumiez, and Blue Tomato as of June 2, 2018.
It also operates several e-commerce websites such as fasttime.com.au, zumiez.com, and blue-tomato.com. Zumiez Inc. was founded in 1978 by Thomas D. Campion and its headquarters are based in Lynnwood, Washington. –CNNMoney