Zumiez To Acquire Blue Tomato, Lifts Q2 Revenue Forecast
Zumiez (NASDAQ: ZUMZ) has agreed to acquire Austrian retailer Blue Tomato for 59.5 million euros ($75 million). The company also lifted its Q2 revenue forecast.
Zumiez reported net sales of 29.4 million euros for the year ended April 2012. It lifted its Q2 revenue forecast to $134 to $136 million, versus $128 to $130 million. The company maintained its earnings forecast of $0.04 to $0.06 per share for the second quarter.
Analysts were projecting Q2 earnings of $0.10 per share on revenue of $131.9 million.
Zumiez shares closed at $39.37 yesterday.
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