The Washington-based retailer of sports-related teen apparel,
), reported a 7.6% decline in comparable-store sales for the four
weeks ended Feb 1, 2014. This compares with a comps rise of 0.6%
for the five weeks ended Feb 2, 2013.
Moreover, net sales for January dipped 24.3% to $38.1 million
from $50.3 million reported in the year-ago period.
Last month, the company reported dismal comps results, while
sales improved on a year-over-year basis. The company reported a
2.4% decline in comparable-store sales for the 5 weeks ended Jan
4, 2014 compared with a 1.0% decline reported for the 5 weeks
ended Dec 29, 2012. However, net sales for December climbed 4.2%
to $125.3 million from $120.3 million reported in the year-ago
Zumiez is likely to report its fourth quarter and fiscal 2013
financial results on Mar 13, 2014. Given the company's recent
dismal sales performance, the company now estimates
fourth-quarter sales in the $226-$229 million range, while comps
are expected to decline in the low single digit range.
The company expects earnings per share to be 56-59 cents.
Currently, the Zacks Consensus Estimate for the fourth quarter
stands at 62 cents, way above the company's forecasted earnings
range. The company's guidance for the fourth quarter includes
estimated charges of $1.7 million or 5 cents related to the Blue
We believe that the company's well-balanced store expansion and
e-Commerce strategies will help drive its top line going forward.
Moreover, Zumiez aims to increase its store network to 600-700
stores in the long run. As of Feb 1, 2014, the company operated
551 stores, including 511 in the United States, 28 in Canada and
12 in Europe.
Zumiez currently has a Zacks Rank #4 (Sell). Better-performing
stocks among apparel/shoe retailers are
Christopher & Banks Corp.
Finish Line Inc.
Foot Locker Inc.
). While Christopher & Banks carries a Zacks Rank #1 (String
Buy), Finish Line and Foot Locker have a Zacks Rank #2 (Buy).
CHRISTOPHER&BNK (CBK): Free Stock Analysis
FINISH LINE-CLA (FINL): Free Stock Analysis
FOOT LOCKER INC (FL): Free Stock Analysis
ZUMIEZ INC (ZUMZ): Free Stock Analysis Report
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