Zumiez Inc. Beats Q3 Views, Same-Store Sales Grow 3.7%

Zumiez Inc.

beat third-quarter expectations Thursday but its fourth-quarter outlook fell short of expectations. The Lynnwood, Wash., sports apparel and accessories retailer fell 2 percent recently in Wednesday's extended trading session to $35.47 a share. The company forecast fourth-quarter earnings of $0.69 to $0.72 a share including a charge of $0.02 cents a share for the acquisition of Blue Tomato, on sales of $249 to $251 million. Wall Street expects fourth-quarter earnings of $0.75 cents a share, excluding items, on revenue of $252.37 million. The company also forecast fourth-quarter same-store sales growth of 3 percent to 4 percent. Same-store sales for the recent quarter grew 3.7 percent, while during the four-week period ended Nov. 29, same-store sales grew 6.3 percent from a year earlier. Third-quarter net income grew to $15.7 million, or $0.54 cents a share, from $11.9 million, or $0.39 cents a share, a year earlier. Results for the recent period included an acquisition-related charge of $0.02 cents a share. Sales increased 11.6 percent to $213.3 million from $191.1 million last year. Wall Street expected $0.53 cents a share, on revenue of $212 million.