Reuters
Apr 8, 2009
Zumiez March same-store sales fall 17.9 pct
Reuters
Apr 8, 2009
April 8 (Reuters) - Snowboarding gear retailer Zumiez Inc (ZUMZ.O) posted a wider-than-expected 17.9 percent drop in March same-store sales due to weak sales at its apparel and accessories business. Analysts on average expected same-store sales to fall 14 percent, according to Thomson Reuters Estimates.
Speed Demons Decks at Zumiez - www.zumiez.com |
The shift in Easter to April hurt March sales as "the week preceding Easter is important," finance chief Trevor Lang said in a pre-recorded call.
The retailer of action-sports-related apparel, footwear, equipment and accessories said total net sales for the five-week period ended April 4 fell 5.4 percent to $29.8 million.
Zumiez, which operates 350 stores, caters to men and women between ages 12 to 24 years.
Shares of the Everett, Washington-based retailer closed up 12 percent at $10.01 Wednesday on Nasdaq.
For related alerts, double click (Reporting by Renju Jose in Bangalore; Editing by Deepak Kannan)
© Thomson Reuters 2024 All rights reserved.