Retail mogul, Zumiez, Inc., released their September 2011 sales results, with an increase in net sales. Not all is doom and gloom in the retail market. The company reported an 18.3% surge last month to $52.9 million. Last year, Zumiez reported $44.7 million during the 5-week September period, meaning an overall positive increase throughout the year. To add, the September 2011 comparable store sales increased 10.1%. According to Forbes, Zumiez increased the third-quarter earnings forecast to 40 – 41 cents per share. Previous guidance suggested 37 – 39 cents. Wall Street predicts earnings set at 39 cents per share.
Check out the official press release surround the details.
EVERETT, WA, Oct 05, 2011 (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 October 1, 2011 increased 18.3% to $52.9 million, compared to $44.7 million for the five-week period ended October 2, 2010. The Company’s comparable store sales increased 10.1% for the five-week period, on top of a comparable store sales increase of 17.0% in the year ago period. For the nine-week period ended October 1, 2011, the Company’s comparable store sales increased 6.8%, on top of a 12.4% comparable store sales increase for the same period last year.
Based on better than planned sales, the Company has increased its guidance and now expects fiscal 2011 third quarter sales of $150 to $152 million and net income per diluted share is now projected at approximately $0.40 to $0.41, an increase from the previously issued guidance of net income per diluted share of approximately $0.37 to $0.39. This guidance is predicated on a mid single digit comparable store sales increase for the third quarter.
To hear the Zumiez prerecorded September sales message, please dial (585) 295-6795 or (866) 862-7693 (no passcode is required).
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 October 1, 2011 we operated 428 stores in the United States and 8 stores in Canada, which are primarily located in shopping malls, and our web site address is www.zumiez.com.
Safe Harbor Statement
Certain statements in this press release and oral statements relating thereto made from time to time by representatives of the Company may constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. These statements include, without limitation, predictions and guidance relating to the Company’s future financial performance, brand and product category diversity, ability to adjust product mix, integration of acquired businesses, growing customer demand for our products and new store openings. In some cases, you can identify forward-looking statements by terminology such as, “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology. These forward-looking statements are based on management’s current expectations but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties, which include, without limitation, those described in the Company’s annual report on Form 10-Q for the quarter ended July 30, 2011 as filed with the Securities and Exchange Commission and available at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.