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ROTH CAPITAL PARTNERS: Zumiez comps exceed estimates.
Details on Industry Insight.
Last-minute and after-holiday shoppers came out in enough force – and bought more, lower priced goods -- to give Zumiez a surprise lift to positive comps, the company reported today.
The results were strong enough that Zumiez raised its guidance for its Q4 results to project a narrower comp store decline for the quarter.
Q4 sales should range from $128 - $131 million, CFO Trevor Lang said, pushing net earnings per diluted share to a range of 24 – 27 cents – up from earlier projections of 18 – 22 cents.
Q4 comp sales should be in the mid- to low-single digit declines, compared to earlier projections of a mid- to high-single digit decline.
December’s gains were “driven primarily by an increase in store transactions,” Lang said. During the period, Zumiez saw a small decline in the dollar sales per transaction, but an increase in units purchased per transaction.
Other details from the call: