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.
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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