Zumiez rises after upbeat Q3 results
06/12/2024 17:26
(Updates)
** Shares of apparel and footwear retailer Zumiez ZUMZ.O
rise as much as 12.4% to $22.66
** Stock set for its best day in about a year, if gains hold
** Co posted Q3 results after market close on Thursday
** Q3 net sales rose 2.9% YOY to $222.5 mln from $216.3 mln
last year, helped by strong North American business and gains in
apparel and footwear categories
** Reports Q3 EPS of 6 cents vs loss of 12 cents the
previous year
** Co also forecasts net sales of $284 mln to $288 mln and
EPS of about 83 cents to 93 cents for Q4; says total Q4 sales
till Dec. 3 have increased 10% YOY
** Brokerage William Blair notes the two sequential quarters
of positive comparable sales growth help cement that a more
tangible recovery is underway, after over two years of weaker
performance
** Up to Thursday's close, stock has fallen ~1% YTD
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))