Zumiez June sales disappoint analysts
The Associated Press
Retailer Zumiez said Wednesday that its sales improved in June, but revenue at stores open at least a year gained at a slower pace than Wall Street expected.
The Lynnwood company said its total sales increased 15 percent to $58.8 million over the five weeks ended July 6.
But revenue at stores open at least a year edged up just 1 percent, below the 2 percent mark expected by analysts polled by Thomson Reuters.
Revenue at locations open at least a year is considered an important measurement of retailer health because it exclude stores that opened or closed within the last year and measures growth at existing locations.
Zumiez sells surf- and skate-themed clothing, footwear, equipment and accessories and does business under the names Zumiez and Blue Tomato. It had a total of 522 stores at the end of the period, including 490 in the U.S., along with its Zumiez and Blue Tomato websites.