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ROTH CAPITAL PARTNERS: Zumiez comps exceed estimates.
Details on Industry Insight.
September sales turned out better than expected for important industry customer Zumiez, the company reported this afternoon. As a result, the company raised its earnings guidance for the third quarter.
Zumiez said same store sales in September rose 10.1%. In September 2010, same store sales increased 17%.
This year during the key back-to-school months of August and September combined, Zumiez’s same store sales increased 6.8%.
Comp sales by week in September were:
3. + 8.9%
The dollars per transactions rose, while the number of transactions decreased.
Strong categories: Men’s, Footwear, Junior’s, Accessories, Boys
Weak category: hardgoods
Year-to-date same store sales: + 8.8%
Total stores: 436
Because of stronger than expected sales, Zumiez now expects third quarter sales of $150 million to $152 million and net income per diluted share of 40 cents to 41 cents, up from the previous guidance of 37 cents to 39 cents.