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Details on Industry Insight.
Zumiez Inc. Raises Third Quarter Guidance in Conjunction With Its Presentation at the Seventeenth Annual Goldman Sachs Global Retailing Conference
EVERETT, WA, Sep 13, 2010 (MARKETWIRE via COMTEX) --
Zumiez Inc. (NASDAQ: ZUMZ), a leading specialty retailer of action sports related apparel, footwear, equipment and accessories, today announced, in conjunction with management's participation in the Seventeenth Annual Goldman Sachs Global Retailing Conference on September 15, 2010, it is increasing its sales and earnings guidance for the quarter ending October 30, 2010.
September month-to-date comparable store sales increased 15.3% and quarter-to-date comparable store sales increased 10.8% for the two and six week periods ended September 11, 2010. Based on better than planned sales and product margins, the Company now expects fiscal 2010 third quarter net income per diluted share of approximately $0.25 to $0.27, an increase from the previously issued guidance of net income per diluted share of approximately $0.21 to $0.24.
This guidance is predicated on a comparable store sales increase for the remainder of the third quarter in the mid single digit range which will result in a high single digit comparable store sales increase for the third quarter.
About Zumiez Inc.
Zumiez is a leading specialty retailer of action sports related apparel, footwear, equipment and accessories. Our stores cater to young men and women between ages 12-24, focusing on skateboarding, surfing, snowboarding, motocross and BMX. As of August 28, 2010 we operated 396 stores, which are primarily located in shopping malls and our web site address is www.zumiez.com.
Safe Harbor Statement
Certain statements in this press release and oral statements relating thereto made from time to time by representatives of the Company may constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. These statements include, without limitation, predictions and guidance relating to the Company's future financial performance, brand and product category diversity, ability to adjust product mix, source inventory at acceptable costs, integration of acquired businesses, growing customer demand for our products and new store openings. In some cases, you can identify forward-looking statements by terminology such as, "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties, which include, without limitation, those described in the Company's quarterly report on Form 10-Q for the quarter ended July 31, 2010 as filed with the Securities and Exchange Commission and available at www.sec.gov or http://ir.zumiez.com. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.