Zumiez sees January sales boost, shoots for upper end of Q4 guidance
today Feb 8, 2018
Zumiez Inc. reported on Wednesday an increase of 6.3% in comparable sales for the five-week period ended February 3, 2018 compared to the same period in 2017.
Total net sales in the five-week period in 2018 were up 33.6% to $66 million from the $49.4 million achieved in the four-week period ended January 28, 2017, when comparable sales also increased by 9.4%.
Excluding the impact of the 53rd week in fiscal 2018, total net sales in January increased 12.8% from the prior year.
Based on this increase in sales, the company has announced that it is now expecting its fourth quarter 2017 earnings per share to fall at the high end of its most recent guidance range of $0.88 to $0.90.
Zumiez is a Lynnwood, Washington-based specialty retailer of apparel, footwear, accessories and hardgoods, targeting young men and women. The company operates under the names Zumiez, Blue Tomato and Fast Times, through a network of 698 stores, including 607 in the US, 50 in Canada, 34 in Europe and 7 in Australia. The retailer also sells its products through three brand-specific e-commerce sites.
The company has proved to be proactive in the face of a challenging retail environment, implementing a number of strategies to ensure continued growth. Last year, Zumiez pushed forward with rationalization, cutting down on stores and closely monitoring the profitability of remaining locations, while also introducing a variety of new initiatives aiming to engage consumers both online and in store.
Zumiez plans to report February 2018 sales and Q4 2017 results on March 15, 2018.
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