Zumiez Shares Spike on Sales Numbers (Update 1)
Updated from 1:12 p.m. EST to provide executive comments regarding sales in the fourth paragraph.
NEW YORK (TheStreet) - Shares of Zumiez (ZUMZ), the action-sport apparel and accessory retailer, spiked more than 13% on Thursday, following its release of March same-store sales numbers that considerably beat the analyst estimates.
The company's comparable store sales increased 2.1% for the five-week period ending April 6. Thomson Reuters analyst Jharonne Martis-Olivo forecast Zumiez's same-store sales would fall 7.5% during that time. Zumiez' total net sales for the five-week period rose 19.7% to $61 million, the company said.
Zumiez said the juniors and hard goods categories posted positive comps, while boys, men, accessories and footwear posted negative comps for the period."Looking to ahead to April it's important to remember that due to the Easter shift results in March and April can vary significantly," CFO Christopher Work said in a pre-recorded statement. This year's early Easter holiday will be "a detriment to comparable store sales in March and a benefit in April," Work said. Comparable store sales for the five-week period ending March 31 rose 14.1% to $50.9 million. With its focus on skateboarding, snowboarding, surfing, motocross and BMX apparel and accessories, Zumiez competes with other teen active-lifestyle retailers like Pacific Sun (PSUN) and Hot Topic (HOTT). The company has 502 stores, primarily in the U.S., under its two brands, Zumiez and Blue Tomato. Investors were pleased with the numbers from the Lynnwood, Wash.-based company. Shares were most recently trading at $28.23, up 13.4% over the previous day's closing stock price. More than 2.7 million shares traded hands on Thursday. The average three-month daily volume for the stock is 475,000 shares. -- Written by Laurie Kulikowski in New York. Follow @LKulikowski To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com. >To submit a news tip, email: firstname.lastname@example.org.
Follow TheStreet on Twitter and become a fan on Facebook
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV