), a U.S. Specialty retailer with focus on teenage action-sports
based merchandise, came up with strong comparable store sales
(comps) and sales results for the four-week period ended April 28,
Zumiez's April 2012 comps rose 10.1% compared with April 2011
comps increase of 17.5%. Net sales for the period jumped 19.8% to
$38.4 million from $32.0 million reported in the four weeks ended
April 30, 2011.
First-quarter 2012 comps at Zumiez were up 12.9% compared with
an increase of 12.6% reported in the year-ago quarter.
Quarterly results of the mall-based specialty retailer have been
consistently outperforming the Zacks Consensus Estimate with the
average surprise for the last four quarters standing at 67.9%.
Zumiez posted solid results in the last quarter (fourth quarter
2011) on the back of strong merchandising, new store opening and
e-commerce strategies along with improved margins.
Quarterly earnings of 60 cents per share beat the Zacks
Consensus Estimate of 59 cents and surged 22.4% from the
prior-period level of 49 cents.
Net sales in the reported quarter climbed 17.7% year over year
to $183.9 million, surpassing the Zacks Consensus Estimate of $182
million. Comparable store sales rose 9.7% in the quarter compared
with an increase of 13.0% in fourth-quarter 2010.
Zumeiz is scheduled to release its first-quarter 2012 financial
results on Thursday, May 17, 2012.
Everett, Washington-based Zumiez targets young men and women in
the age group of 12 to 24 years, who seek popular brands that
represent a lifestyle centered on extreme sports activities. The
company competes head-to-head with
Hot Topic Inc.
Pacific Sunwear of California Inc.
Zumiez's stores span across 2,900 square feet on an average, and
offers couches and video game stations to entice customers to shop
for extended periods. These stores are strategically located near
busy areas of the mall, such as food courts, movie theatres,
music/game stores and other popular teenage hang-out destinations.
As of April 28, 2012, the company operated 444 stores in the United
States and 11 stores in Canada.
Currently, Zumiez holds a Zacks #1 Rank, implying a short-term
Strong Buy rating on the stock. We retain our long-term Outperform
recommendation on the stock.
HOT TOPIC INC (HOTT): Free Stock Analysis
PAC SUNWEAR CAL (PSUN): Free Stock Analysis
ZUMIEZ INC (ZUMZ): Free Stock Analysis Report
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