Zumiez Inc. (NASDAQ: ZUMZ) shares hiked Friday morning, after the company reported a narrower-than-expected loss for its second quarter and issued a strong forecast for the current quarter.
The company, based out of Lynnwood, Washington reported second-quarter total net sales increased 7.8% to $192.2 million, from $178.3 million in the quarter ended July 30, 2016. Comparable sales for the 13 weeks ended July 29, 2017 increased 4.7% compared to a comparable sales decrease of 4.9% for the 13 weeks ended July 30, 2016.
The second-quarter net loss proved to be $0.6 million, or $0.02 per diluted share, compared to a net loss of $0.8 million, or $0.03 per diluted share in the second quarter of the prior fiscal year.
Zumiez CEO Rick Brooks said "Our business outperformed our expectations during the second quarter highlighted by a 4.7% comparable sales increase. I am extremely pleased with how well our teams continue to execute in the current environment.”
Net sales are projected for the upcoming quarter to be in the range of $236 to $241 million resulting in net income per diluted share of approximately $0.43 to $0.48.
Zumiez is a leading specialty retailer of apparel, footwear, accessories and other goods for young men and women with an artistic bent. The chain currently operates nearly 700 stores, including 606 in the United States, 51 in Canada, and 30 in Europe and six in Australia.
Shares rocketed $3.10 each, or 23.5% to $16.30, within a 52-week trading range of $11.43, to $26.55
