Zumiez sales climb 0.8 percent in July, miss forecasts
The Associated Press
Zumiez, a Lynnwood-based seller of clothing, shoes and equipment for action sports, said Wednesday that a key revenue measure grew 0.8 percent for the four weeks through Aug. 3.
Analysts were anticipating that same-store sales — sales at stores open at least 13 months — would increase 1.7 percent, according to Thomson Reuters. It’s considered a key measure of a retailer’s financial health as it strips away the impact of recently opened or closed stores.
The company’s total revenue increased 19.3 percent from a year ago to $56.1 million.
Zumiez reported that the gains were seen in the last two weeks of the period. The retailer said its juniors and shoe departments performed well, which helped offset weaker sales trends in its men’s, boys and accessories departments.
The company operates 529 Zumiez and Blue Tomato stores in North America and Europe. The bulk of its stores are in the U.S.
Shares of Zumiez fell 76 cents to close Wednesday’s trading session at $27. The sales figures were released after the market closed. Zumiez shares were unchanged in after-hours trading.