Zumiez reported strong comparable sales for July and raised its earnings guidance for the second quarter based on better than expected sales and product margins.
Same store sales increased 9.4% for the four weeks ended July 31.
Last year in July, same store sales declined 6.8%.
The company now expects to report a net loss of 2 to 3 cents per share vs. the previous forecast of a net loss of 7 to 10 cents per share. The loss is due to charges from relocating the company’s distribution center from Washington to California.
Comps by week were:
1. up 10.9%
2. up 7.7%
3. up 9.1%
4. up 9.8%
Regions: Same store sales for the Southern region rose 10%, while stores in the West, Midwest and East recorded a 7% increase. E-commerce also reported strong comps.
Strong categories: Accessories, men’s, footwear, boys.
Weak categories: hardgoods, juniors.
Q2 comps: up 9.3%
Year-to-date comps: up 9.2%