MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
Details on Industry Insight.
Same-store sales for Zumiez improved in October from the negative double-digit comps the company has recorded for many months this year.
Sales at stores open more than a year, considered a key measure of a retailer's health, fell 8.9% in October. In October 2008, same-store sales declined 13.1%.
October's numbers fell below the average analysts estimate of a 6.7% decline.
Footwear posted modestly positive comps for the month, while every other category posted negative comps.
Same-store sales by week were:
1. Down 8.9%
2. Down 5.5%
3. Down 13%
4. Down 8.1%
Sales trends improved in the Western half of the U.S., with comp sales declining in the high-single digits. In the South, Midwest and Northeast, same-store sales dropped in the low double digits.
For the third quarter, same store sales declined 8% vs. a 5.8% decline in the third quarter of 2008.
Year-to-date, same-store sales are down 13.6% vs. a 3.2% drop during the same period last year.
Zumiez ended October with 378 stores.