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ROTH CAPITAL PARTNERS: Zumiez comps exceed estimates.
Details on Industry Insight.
Positive news from Zumiez today as the important industry retailer reported a 11.2% increase in February same store sales.
Total sales rose 19.6% to $27.6 million.
Comps were positive in every week of the period.
Week 1: up 11.9%
Week 2: up 8.9%
Week 3: up 12.3%
Week 4: up 11.8%
The average number of transactions increased, suggesting traffic is improving at the mall.
Stores in the Western half of the U.S. reported a 14% increase in same store sales, in the South, same stores sales increased 13% and in the Midwest, comps rose 6%. The only weak territory was the Northeast, where same stores sales declined 2%, which Zumiez believes was due to the snowy weather.
Several categories reported positive same store sales, including men’s, accessories and boys. Hardgoods, footwear and junior’s had a tough month.
The retailer was up against a relatively easy comparision. In February of 2008, same store sales declined 13.4%.
Zumiez operates 377 stores around the country.