Zumiez Inc. (NASDAQ: ZUMZ) reported a 9.3% gain in September comparable sales and raised its Q3 forecast.
The company, based in Lynnwood, Washington, the leading specialty retailer of apparel, footwear, equipment and accessories for young men and women announced Wednesday that total net sales for the five-week period ended September 30, 2017 increased 12.6% to $84.4 million, compared to $75.0 million for the five-week period ended October 1, 2016.
Zumiez also says, based on stronger than expected sales quarter-to-date, it now expects fiscal 2017 third quarter net sales in the range of $241 to $243 million, compared with its previous guidance range of $236 to $241 million. This guidance is now predicated on a comparable sales increase of between 6% and 7%.
Based on higher than planned sales combined with higher than expected operational expenses and to a lesser extent lower product margin, the Company now expects net income per diluted share of approximately $0.45 to $0.48, compared with its the previously issued guidance of $0.43 to $0.48.
As of the end of last month, Zumiez operated 695 stores, including 607 in the United States, 51 in Canada, and 31 in Europe and six in Australia. We operate under the names Zumiez, Blue Tomato and Fast Times.
Zumiez shares gained 15 cents to $19.04 not far from noon on Thursday. Its 52-week trading range is $11.43 to $26.55.
