Zumiez says key sales figure drops in March
The Associated Press
Action sports retailer Zumiez said Wednesday that a key sales measure fell 2.9 percent for March, but the measure came in better than analysts had anticipated.
The Lynnwood company reported that its revenue from stores open at least a year fell for the five-week period that ended April 6. This is considered a key indicator of a retailer’s financial health as it strips away the impact of recently opened or closed stores.
Analysts polled by FactSet were anticipating a 4.4 percent decline.
Zumiez said that fewer purchases and less spent on each purchase during the period weighed on the key sales measure. It reported stronger sales trends in accessories and juniors but weaker sales in footwear, men’s and boy’s departments.
Zumiez said that its total revenue for the period increased 4.3 percent to $63.6 million from $61 million last year.
The company operated 555 stores in North America and Europe under the names Zumiez and Blue Tomato.