Zumiez Jumps 11% on December Sales Results, Guidance Raise

Shares of retailer Zumiez (NASDAQ: 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.