Comparable-store sales (comps) of
) - the Washington-based retailer of sports-related teen apparel
- declined 8.9% for the 4-weeks ended Mar 2, 2013, compared with
an increase of 14.2% in the 4-weeks ended Feb 25, 2012.
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However, net sales for the month surged 10.6% to $44.5 million
from $40.2 million reported in the year-ago period.
Last month (5-weeks ended Feb 2, 2013), Zumiez reported comps
increase of 2.6% compared with an increase of 11.1% in the
5-weeks ended Feb 4, 2012. Net sales for the period surged 57.9%
to $50.3 million from $31.8 million reported in the year-ago
This Zacks Rank #2 (Buy) company is scheduled to report its
fourth quarter and fiscal 2012 earnings on Thursday, Mar 14,
2013. Along with its January comps, Zumiez had earlier reported
preliminary fourth quarter sales of $224.2 million, which was
above its guidance range of $218.0-$221.0 million.
Further, the company anticipates fourth quarter earnings in the
range of 65 cents - 66 cents per share. The current Zacks
Consensus Estimate is pegged at 73 cents per share, well above
the company's guidance range.
We believe that the company's well-balanced store expansion and
e-Commerce strategies will drive its top line further. Following
the footsteps of its competitors such as
Abercrombie & Fitch Company
Foot Locker Inc.
), Zumiez is targeting to augment its store network to 600-700
stores in the long run. As of Mar 2, 2013, the company was
operating 501 stores.
Moreover, the recent acquisition of Blue Tomato facilitated
Zumiez to tap the European market. Such initiatives provide the
company with a solid platform to effectively capitalize on the
Though Zumiez's overall performance and store expansion
strategies are well appreciated, there is slight apprehension
surrounding its future comparable-store sales performances
following the recent weak comps growth.
Dealing in action sports-related apparel, footwear, equipment and
accessories, Zumiez, which competes primarily with
Hot Topic Inc.
), targets young men and women in the 12-24 year age group who
seek popular lifestyle brands centered on extreme sports