May 7, 2009
Zumiez April comps beats view; sees smaller Q1 loss
May 7, 2009
May 6 (Reuters) - Snowboarding gear retailer Zumiez Inc (ZUMZ.O) reported a narrower-than-expected 13.8 percent fall in April sales at stores open at least a year and forecast a narrower first-quarter loss, sending its shares up 2 percent.
Supra Vaider Royal shoes at Zumiez.com
Analysts were expecting same-store sales to fall 14.1 percent, according to Thomson Reuters Estimates.
"Footwear posted positive comps for the month, offset by negative comps in mens and juniors apparel, accessories, hard goods...," Zumiez CFO Trevor Lang said in a pre-recorded call.
The company, which caters to young men and women between the ages of 12 and 24, said the shift in the Easter weekend to April this year boosted sales.
Zumiez, which currently operates 358 stores, said its stores west of Texas reported lower losses than those in the South, Midwest and Northeast.
The retailer of action-sports-related apparel, footwear, equipment and accessories said total net sales for the four-week period ended May 2 fell 1.7 percent to 23.8 million.
Zumiez also said it expects a first-quarter loss of 8 cents a share to 9 cents a share. It had previously forecast a loss of 13 cents a share to 17 cents a share for the period.
Analysts on average had expected a first-quarter loss of 14 cents a share, before items, according to Reuters Estimates.
Shares of the mall-based retailer closed at $11.85 Wednesday on Nasdaq. (Reporting by Sumedha Mukherjee in Bangalore; Editing by Anthony Kurian)
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