Zumiez beats by $0.04, reports revs in-line; comparable sales +7.4% y/y; guides Q3 EPS above consensus, revs above consensus, comps +4%-6%
- Reports Q2 (Jul) loss of $0.02 per share, $0.04 better than the Capital IQ Consensus of ($0.06); revenues rose 7.8% year/year to $192.2 mln vs the $192.12 mln Capital IQ Consensus.
- Comparable sales for the thirteen weeks ended July 29, 2017 increased 4.7% compared to a comparable sales decrease of 4.9% for the thirteen weeks ended July 30, 2016.
- Co issues upside guidance for Q3, sees EPS of $0.43-0.48 vs. $0.43 Capital IQ Consensus Estimate; sees Q3 revs of $236-241 mln vs. $228.21 mln Capital IQ Consensus Estimate.
- Guidance is based upon anticipated comparable sales growth between 4%-6% for the third quarter of fiscal 2017.
- The Company currently intends to open approximately 18 new stores in fiscal 2017, including up to 3 stores in Canada and 4 stores in Europe and 2 stores in Australia.
- August Sales
- Total net sales for the four-week period ended August 26, 2017 increased 10.1% to $98.6 mln, compared to $89.5 mln for the four-week period ended August 27, 2016.
- The Company's comparable sales increased 7.4% for the four-week period ended August 26, 2017 compared to a comparable sales decrease of 1.1% for the four-week period ended August 27, 2016.
- Rick Brooks, Chief Executive Officer of Zumiez Inc., stated, "Our business outperformed our expectations during the second quarter highlighted by a 4.7% comparable sales increase. I am extremely pleased with how well our teams continue to execute in the current environment. Our intense focus on serving our consumer with differentiated assortments and great service is fueling market share gains and strengthening our leadership position in the industry. We will continue to invest in our people and omni-channel capabilities while tightly controlling expenses as we look to consistently drive profitable growth and increased shareholder value over the long-term."
No comments:
Post a Comment