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Details on Industry Insight.
Zumiez stock is down approximately 16% to $22.71 in trading so far today after the retailer yesterday reported July same store sales that were lower than expected and from the general market sell off.
The company said same store sales for July rose 4.9% vs. a 9.4% increase in the same month last year.
Analysts had expected a comp increase for July 2011 of 7.9%.
Zumiez’s comps by week were:
Footwear, men’s and junior’s posted positive comps.
Accessories, hardgoods and boy’s posted negative comps.
In the second quarter, same stores sale rose 7.5% and year-to-date, same store sales are up 9.9%