10 May Zumiez Sees Modest April Comp Gain
Zumiez Inc. announced that total net sales for the four-week period ended May 5, 2018 increased 3.7 percent to $58.6 million, compared to $56.5 million for the four-week period ended April 29, 2017.
The company’s comparable sales increased 1.7 percent for the four-week period ended May 5, 2018 compared to a comparable sales increase of 7.8 percent for the four-week period ended April 29, 2017.
Based on higher-than-anticipated sales, the company now expect’s the first quarter 2018 operating profit margin to be between negative 1.3 percent and negative 1.5 percent of sales, compared to the previous guidance range of negative 1.7 percent to negative 2.6 percent. In addition, the company believes that earnings per share will be at the high end of the previously disclosed range or slightly better due to the timing and location of income and the associated tax expense.