Zumiez Inc. (ZUMZ), a specialty retailer, Monday announced that it has lowered the net sales and earnings per share guidance for the fourth quarter.
Currently, in the pre-market, shares are down around 6 percent.
The earnings per share are expected to range between $0.72 and $0.77 from $0.83 to $0.93 in the previous guidance.
The company anticipates fiscal 2024 fourth-quarter net sales in a range of $275 to $277 million from $284 to $288 million in the previous guidance.
The fourth quarter had one more week than the prior year. The Company expects that the incremental week included in the prior year will have a negative impact on the year-over-year growth rate in net sales for the fourth quarter of approximately 4 percent.
The guidance was lowered based on the nine-week results of regional sales, North America's comparable sales increased by 6.9 percent. Other international comparable sales including Europe and Australia were increased by 1.1 percent.
In the pre-market trading, ZUMZ is 5.85% less at $17.71 on the Nasdaq.
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