Zumiez Inc. (ZUMZ), a specialty retailer of apparel, footwear, and accessories, on Monday reported a rise in sales for the nine-week period. In addition, the company has revised its fourth-quarter guidance.
For the 9-week period to January 3, the retailer recorded a comparable sales growth of 2.9%, when compared with the same period of last fiscal year.
For the fourth quarter, Zumiez now expects earnings per share of $1.05 to $1.10, higher than the prior guidance of $0.97 to $1.07 per share. This reflects stronger product margins in Europe and North America as well as expense management.
For the fourth quarter, the company now projects sales of $287 million to $290 million, compared with the previous outlook of $291 million to $296 million. This revision reflects softer international sales.
On average, analysts polled forecast Zumiez to record earnings of $1.03 per share, on revenue of $294.34 million, for the quarter. Analysts' estimates typically exclude special items.
ZUMZ was up by 6.86% at $27.66 in the pre-market trade on the Nasdaq.
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