Zumiez key sales figure slips 1 pct, shares rise
The Associated Press
Zumiez, which sells surf- and skate-inspired clothing and equipment, said Thursday that revenue at stores open at least a year slipped 1 percent last month. Analysts on Wall Street expected a bigger drop, and the company’s stock price rose.
Analysts, on average, predicted that revenue at stores open a year would fall 3.6 percent in December, according to Thomson Reuters.
Revenue from 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 company, which operates 502 stores and the Zumiez.com and Blue-Tomato.com online stores, said that total sales for the five weeks ending Dec. 29 jumped 15 percent to $120.3 million.
Shares of Zumiez rose $1.87 or 9.6 percent, to $21.37 in late trading Thursday.