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ROTH CAPITAL PARTNERS: Zumiez comps exceed estimates.
Details on Industry Insight.
Zumiez reported strong sales for the key back-to-school month of August.
The company said this afternoon that same-store sales rose 9.1% for the month vs. a 12.1% decline in August last year.
Nearly every category posted positive results, including accessories, men’s, boys, footwear and hardgoods.
Junior’s was the only poor performer.
Comps by week were:
1. up 7.2%
2. up 9.8%
3. up 8.9%
4. up 10.3%
The number of transactions rose, while the average dollar per transaction fell.
The South was the top-performing region, with comps up 10%. The West, Midwest and Northeast recorded a 6% comp increase. E-commerce also posted positive results.
CFO Trevor Lang cautioned that the first few weeks of September are also important for back-to-school sales, so August and September results should be taken into consideration when judging the season.
Year to date, same store sales are up 9.2% vs. a 16% decline for the same period last year.
Zumiez operates 396 stores.