Zumiez reports disappointing February sales
The Associated Press
Zumiez’s revenue at stores open at least a year fell 8.9 percent in February, a bigger decline than Wall Street predicted.
Analysts surveyed by Thomson Reuters expected a 1.9 percent decline.
Revenue at stores open at least a year is a key indicator of a retailer’s health because it excludes results from stores recently opened or closed.
The 8.9 percent drop in the key revenue metric compares with a 14.2 percent increase in the prior-year period.
The Lynnwood company, which sells action sports clothing, footwear, equipment and accessories, reported late Wednesday that revenue for the four weeks ended March 2 climbed 10.6 percent to $44.5 million from $40.2 million.
Zumiez had 501 stores, 472 in the U.S., 21 in Canada and 8 in Europe as of March 2.
Its shares fell $1.10, or 4.8 percent, to $22 Thursday.