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Zumiez's September Comps Zoom Ahead Of Consensus Estimates

Zumiez's September Comps Zoom Ahead Of Consensus Estimates
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Shoe retailer Zumiez Inc. (NASDAQ: ZUMZ) is racing higher Thursday on a huge boost in comps in September, a 6.3 percent increase. The Street was way off on Zumiez, which had a -0.4 percent consensus estimate.

This represents the first positive comp reading in a year and a half for the company, driven by good execution, favorable trends and full-priced selling. September sales were up 11.5 percent to $75 million.

Related Link: Zumiez Improves On Overnight Gains Following Raised Q3 Guidance

Zumiez had an expected strong back-to-school period in the month, but what was particularly encouraging was that sales re-accelerated toward the end of the month during a non-peak period.

While analysts at Baird maintain a Neutral rating, they upped Zumiez's price target to $22 from $19. However, Baird wants to see "more confidence in a sustained recovery scenario" before revisiting their position.

At last check, Zumiez was up 18.14 percent at $21.58.

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Latest Ratings for ZUMZ

Jun 2018B. Riley FBRMaintainsBuyBuy
May 2018WedbushInitiates Coverage OnNeutral
Oct 2017B. Riley FBRMaintainsBuy

View More Analyst Ratings for ZUMZ
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