05 Oct Zumiez Lifts Guidance On Strong September Comps
Posted at 12:31h in FDRA, Latest News
Zumiez Inc. announced that total net sales for the five-week period ended September 30, 2017 increased 12.6 percent to $84.4 million, compared to $75 million for the five-week period ended October 1, 2016. The company’s comparable sales increased 9.3 percent for the five-week period compared to a comparable sales increase of 6.3 percent in the year ago period.
Based on stronger than expected sales quarter-to-date, the company now expects fiscal 2017 third quarter net sales in the range of $241 to $243 million, compared with its previous guidance range of $236 million to $241 million. This guidance is now predicated on a comparable sales increase of between 6 percent and 7 percent. Based on higher than planned sales combined with higher than expected operational expenses and to a lesser extent lower product margin, the company now expects net income per diluted share of approximately 45 to 48 cents, compared with its the previously issued guidance of 43 to 48 cents.