Zumiez comp sales increase 7.9%, ups guidance
Zumiez Inc. reported today that sales for the five week period ending December 30, 2017 increased 11.4% to $160M over last year's $143.6M. Comp sales were up 7.9% compared to a 3.4% increase in 2016.
While dollar value per transaction was down, Zumiez saw increased volume of sales transactions which contributed to overall growth. Footwear posted positive comps in December which is a turnaround from previously weak footwear sales.
Men's led December comp sales as the top performing category for the company. Men's was followed by the women's category, while accessories and hard goods showed declining comps.
Zumiez reported "stronger than expected quarter-to-date sales and product margin performance" for the period.
As a result of strong comps, Zumiez is increasing its guidance for 2017 Q4 comparable sales growth to 7%. Previously the company had issued comp sales guidance of 3% to 5%. This forecast excludes any potential impact of the recent tax reform.
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