MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
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.