Reuters
Oct 10, 2011
Zumiez raises Q3 outlook, shares up
Reuters
Oct 10, 2011
Oct 5 (Reuters) - Zumiez Inc's September same store sales blew past expectations as customers spent more at its stores, prompting the apparel retailer to raise its third-quarter outlook.
Shares of the company rose 14 percent in trading after the bell.
The company now expects third-quarter earnings of 40-41 cents a share, higher than its previous 37-39 cents a share forecast. It sees revenue of $150-$152 million.
Analysts on average were expecting earnings of 39 cents a share on revenue of $149.3 million, according to Thomson Reuters I/B/E/S.
Sales for the five-week period ended October 1, 2011 increased 18.3 percent to $52.9 million.
Zumiez sees a mid-single digit comparable store sale increase for the third quarter.
September same store sales rose 10.1 percent.
Shares of the company were up 14 percent at $21.30 in extended trade. They had closed at $18.79 on Wednesday on Nasdaq.
(Reporting by Chris Jonathan Peters in Bangalore; Editing by Sriraj Kalluvila)
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