Zumiez Jumps 11% on December Sales Results, Guidance Raise

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Shares of retailer Zumiez
ZUMZ
are surging in the Wednesday's after hours trading session after the company reported better than expected December sales results. Zumiez reported said that total net sales for the five-week period ended December 31, 2011 increased 18.1% to $104.6 million versus $88.5 million for the five-week period ended January 1, 2011. Based on the better than planned holiday sales and product margin, Zumiez is raising its guidance to and now expects fiscal Q4 total sales between $180 to $181 million. This compares to current Wall Street consensus revenue estimates of $176.81 million. Net income per diluted share is now expected to be between $0.57 to $0.58 which compares to previous guidance of $0.52 to $0.54. Analysts currently have consensus EPS guidance of $0.54 for fiscal Q4. In the after hours session, ZUMZ shares have jumped 11.28% to $29.30.
Posted In: NewsGuidanceRetail SalesAfter-Hours CenterMovers
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