Zumiez ups Q4 guidance as sales continue to rise
today Jan 10, 2019
Youth-focused apparel and accessories retailer Zumiez Inc. reported an increase of 2.9% in sales in December, a rise which contributed to stronger-than-expected quarter-to-date revenue and led the company to up its guidance for the fourth quarter.
Zumiez’s sales in the five-week period ended January 5, 2019 totaled $164.6 million, compared to the $160.0 million reported in the five-week period ended December 30, 2017.
Comparable sales rose 4.9% over the course of the month, down from an increase of 7.9% in the prior-year period.
The continued progress in the company’s revenues means that the retailer now expects comparable sales growth of 3% in the fourth quarter, and earnings per share of between $1.08 and $1.10.
Zumiez’s previous guidance predicted comparable sales growth of between 0% and 2%, and earnings per share of between $1.02 and $1.08.
Q3 2018 marked the retailer’s ninth consecutive quarter of positive comparable sales growth, with comps rising 4.8%. Net sales for the period totaled $248.8 million, while net income came to $15.6 million.
Copyright © 2019 FashionNetwork.com All rights reserved.