D.A. Davidson & Co. Sees Healthy Trajectory Into B2S For Zumiez

In a report published Thursday, D.A. Davidson & Co. analyst Andrew Burns reiterated a Buy rating and $36.00 price target on Zumiez ZUMZ. In the report, D.A. Davidson & Co. noted, “ZUMZ's +3.5% July comp exceeded consensus at +2.8% (Retail Metrics) and our +3.0% estimate. The positive comp was driven by an increase in both transactions and dollars per transaction, with gains in both AUR and UPT. Sales increased 11.9% y/y to $62.8 million. July's results bring final 2Q comps to 3.4% and revenue to $177.6 million, exceeding revenue guidance (updated in early July) that called for$174-$176 million; comps guidance called for a low single-digit increase. Current EPS guidance stands at $0.21-$0.23, which excludes ~$0.02 in acquisition costs. By category, accessories, hardgoods, men's, and juniors were up, while footwear and boys were down.” Zumiez closed on Wednesday at $29.95.
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Posted In: Analyst ColorReiterationAnalyst RatingsAndrew BurnsD.A. Davidson & Co.
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