When core mall retailer Zumiez announced today (November 3, 2010) that their October revenue in stores open a least a year rose 21.5 percent there wasn’t an after hours trader who didn’t feel like jumping in apparently. The stock rocked up to $28.34 a share, according to a story on Canadian Business.
Analysts expected a rise of 7.8 percent, according to Thomson Reuters. . . Total revenue for the four-week period ending Oct. 30 rose 27.3 percent to $31.4 million.
Zumiez stockholders should be jumping for joy. Speaking of jumps, follow this one for the entire press release.
[Link: Canadian Business]
Zumiez Inc. Reports October 2010 Sales Results
Net Sales Increased 27.3% to $31.4 Million; October 2010 Comparable Store Sales Increased 21.5%; Company Raises Third Quarter Guidance
EVERETT, WA — (November 03, 2010) – 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 four-week period ended October 30, 2010 increased 27.3% to $31.4 million, compared to $24.7 million for the four-week period ended October 31, 2009. The Company’s comparable store sales increased 21.5% for the four-week period, versus a comparable store sales decrease of 8.9% in the year ago period.
Based on better than planned sales and product margins, the Company now expects fiscal 2010 third quarter net income per diluted share of approximately $0.36 to $0.37, an increase from the previously issued guidance of net income per diluted share of approximately $0.28 to $0.30.
Rick Brooks, Chief Executive Officer of Zumiez, stated, “Our business has performed well all year and accelerated during the third quarter. The strong sales and margin trends we experienced through September improved in October driven by compelling product and great sales teams. We saw sales increases in all departments and in all regions across the U.S. We are encouraged by the strength of our results and our recent performance confirms our optimism about the long-term prospects of our business. However, as we plan the important fourth quarter and fiscal 2011 we will continue to be cautious reflecting the continuing economic challenges.”
To hear the Zumiez prerecorded October sales message, please dial (585) 295-6795 (no passcode is required).
