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CIT TRADE FINANCE: Middle-market retailers cautiously optimistic for holiday.
Details on Industry Insight.
Zumiez Inc. Reports December 2011 Sales Results
Company Raises Fourth Quarter Guidance
EVERETT, WA, Jan 04, 2012 (MARKETWIRE via COMTEX) --Zumiez Inc. (NASDAQ: ZUMZ), a leading specialty retailer of action sports related apparel, footwear, equipment and accessories, today announced that total net sales for the five-week period ended December 31, 2011 increased 18.1% to $104.6 million, compared to $88.5 million for the five-week period ended January 1, 2011. The Company's comparable store sales increased 10.0% for the five-week period, on top of a comparable store sales increase of 9.2% in the year ago period.
Based on better than planned holiday sales and product margin, the Company has increased its guidance and now expects fiscal 2011 fourth quarter total sales of $180 to $181 million and net income per diluted share is now projected at approximately $0.57 to $0.58, an increase from the previously issued guidance of net income per diluted share of approximately $0.52 to $0.54. This guidance is predicated on a high single digit comparable store sales increase for the fourth quarter.
About Zumiez Inc.
Zumiez is a leading specialty retailer of action sports related apparel, footwear, equipment and accessories. Our stores cater to young men and women between ages 12-24, focusing on skateboarding, surfing, snowboarding, motocross and BMX. As of December 31, 2011 we operated 434 stores in the United States and 10 stores in Canada, which are primarily located in shopping malls, and our web site address is www.zumiez.com.