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Tiffany Montgomery
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Zumiez raises guidance again

Zumiez raises guidance again
By Tiffany Montgomery
October 06, 2010 1:30 PM

Zumiez turned in a stellar back-to-school performance. The action sports retailer said today that same store sales in September rose 17%. In September 2009, same store sales fell 0.8%.

 

For August and September of 2010 combined, same store sales rose 12.4% vs. a 7.7% decline the same periods last year.

 

Every category recorded positive comp results – even junior’s.

 

Because of better than expected sales and product margins, the company also raised its earnings guidance for the third quarter – the second time it has done so during the back-to-school season.

 

The company now expects Q3 earnings between 28 cents to 30 cents. It first forecast earnings of 21 cents to 24 cents.

 

Same store sales by week:

 

1. up 13.6%

2. up 17.5%

3. up 23.9%

4. up 23.3%

5. up 10.1%

 

The number of transactions rose while the dollars per transaction declined.

 

Regionally, comps rose 22% in the South, 16% in the Midwest, 15% in the West and 9% in the East, with the remaining gains coming from e-commerce.

 

Year-to-date, same stores sales are up 10.3% vs. a 14% decline in the same period of 2009.

 

Zumiez ended the period with 397 stores.

 


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