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Zumiez comp sales fall double digits in January, but fourth quarter stronger than expected

By TIFFANY MONTGOMERY
February 04, 2009 02:34 PM

Zumiez said this afternoon that same-store sales in January fell 14.8 percent vs. the same month last year. Total sales fell 2 percent to $20.3 million.

The good news is that sales and margins were stronger than expected, and Zumiez now expects full-year earnings per share to be at the high end of its previously announced 52 to 57 cent range.

January comps by week:

Week 1 - down 7 percent
Week 2 - down 15.7 percent
Week 3 - down 15.9 percent
Week 4 - down 20.1 percent

Positive category: Footwear

Negative categories: men's, junior's and boy's apparel, accessories and hardgoods.

Regions: Stores west of Texas and Florida recorded comp sale decreases in the high teens.

Fourth quarter 2008 comps: down 13.4 percent

Fiscal 2008 comps: down 6.5 percent

Zumiez ended the fiscal year with 343 stores.