Continuing with its store expansion and e-commerce strategies,
) once again reported better-than-expected quarterly results.
Zumiez posted earnings of $0.14 per share for first-quarter 2012
that beat the Zacks Consensus Estimate of $0.11 and increased over
two-fold from the year-ago quarter earnings of $0.06.
Moreover, driven by a 12.7% growth in comps, the company's top line
surged 22.7%. We believe the recent deal to acquire Blue Tomato
will provide Zumiez broader avenues to strengthen its international
base. Assuming it would fully acquire the company by July 1, Zumiez
raised its second-quarter sales guidance in the range of $134 -
$136 million, inclusive of nearly $2 million in sales from Blue
However, the company kept its earnings per share guidance unchanged
at $0.04 to $0.06, inclusive of the acquisition related costs and
expenses. Currently, we are maintaining a long-term Outperform
rating on the stock.
ZUMIEZ INC (ZUMZ): Free Stock Analysis Report
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