Zumiez Q1 Profit Meets Estimate; Guides Q2 Below Consensus

(RTTNews) - Zumiez Inc. (ZUMZ), a specialty retailer of action sports related apparel, footwear, equipment and accessories, reported net income for the first quarter of $2.8 million or $0.09 per share, compared to $2.5 million or $0.09 per share for the year-ago quarter.

The latest quarter results include costs of $1.1 million or $0.03 per share, for charges associated with the acquisition of Blue Tomato, while the year-ago quarter results included $0.6 million or $0.01 per share, for charges associated with the acquisition of Blue Tomato.

Total net sales for the first quarter rose 9% to $177.6 million from $162.9 million a year ago. Same-store sales for the first quarter increased 3.0%.

Analysts polled by Thomson Reuters expected the company to earn $0.12 per share on revenue of $179.32 million for the first quarter. Analysts' estimates typically exclude special items.

The company also said that its same-store sales fell 2.2% in May, while total net sales for the month increased 4.1% to $51.5 million from $49.5 million a year earlier.

Looking forward to the second quarter, the company forecasts net sales of $179 to $183 million and earnings of $0.12 to $0.15 per share, which includes an estimated $0.4 million or $0.01 per share, for charges associated with the acquisition of Blue Tomato. Analysts currently expect the company to earn $0.30 per share on revenue of $193.70 million for the second quarter.