Zumiez beats analysts’ 2Q profit forecasts
The Associated Press
Zumiez on Thursday reported fiscal second-quarter earnings of $7.5 million.
On a per-share basis, the Lynnwood-based specialty sports equipment and clothing company said it had net income of 26 cents. Earnings, adjusted for costs related to mergers and acquisitions, were 27 cents per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 23 cents a share.
The company posted revenue of $176.7 million in the period, missing Street forecasts. Analysts expected $177.3 million, according to Zacks.
For the current quarter ending in October, Zumiez said it expects revenue in the range of $207 million to $211 million. Analysts surveyed by Zacks had expected revenue of $208.8 million.
Zumiez released its results after the stock market closed Thursday. Its shares fell $1.29, or 4 percent, to $31.12 in after-hours trading.