After announcing that it’s back-to-school sales were softer in the third quarter Zumiez shares fell in after-hours trading by seven percent on Thursday evening November 29, 2012, according to a story on Bloomberg Businessweek.
Zumiez reported net income of $12.7 million, or 40 cents per share, for the period that ended Oct. 29. This is down from $14.1 million, or 45 cents per share, in the third quarter of the prior year. The most recent quarter included 10 cents per share in costs tied to its acquisition of Blue Tomato and 1 cent per share of costs tied with its relocation of its corporate offices to Lynnwood, Wash.
The company blamed a drop in November sales on Superstorm Sandy. Why not? Zumiez stock bounced a little this morning and honestly, minor dips of this size are barely worth mentioning. But we already typed it in this far (and you’re reading it) so whateves.
[Link: Bloomberg Businessweek]
