Zumiez Takes A Header

by The Editors on March 6, 2008

After announcing that it’s same-store sales in February fell 2.6 percent (which doesn’t sound like a whole lot to us) Zumiez stock took a 14% plunge this morning.

The Everett company (NASDAQ: ZUMZ) said total sales increased last month to $23.1 million from $20.7 million. . . . Analysts were expecting February same-store sales to grow by 1.4 percent to 2 percent so the decline caught some by surprise. Sara Hasan at McAdams Wright Ragen in Seattle lowered her 2008 fiscal year earnings estimate from 97 cents to 92 cents, but she kept a “buy” rating on the stock.

This on the same day that Pacific Sunwear announced that it’s total sales for February increased seven percent and same-store sales for the month increased six percent. Hmmm. . .

[Link: Puget Sound Business Journal]

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