Boston, MA 05/13/2014 (wallstreetpr) – Zumiez Inc. (NASDAQ:ZUMZ), which is a premier retailer of action sports related footwear, equipment, apparel and other accessories, based out in Washington, will release the broadcast review of its first quarter financial results today over the internet.
April Comps Surged
Last week, Zumiez Inc. (NASDAQ:ZUMZ) had reported a surge in its comparable-store sales (comps), which recorded a two-fold growth as compared to the previous month. The comps during the period of four weeks in April that ended on May 3, 2014, grew 8.2% as against 4.6% recorded in the previous month. In addition to this, the net sales for April grew 17.6% to $50.6 million as against $43 million in the previous year’s same month period. The two-fold growth in April sales is seen on account of Easter holiday connected sales during the month. The higher sales growth in the month has offset the dull sales of March, 2014. The company had reported a fall of 2.9% in comps for the period of five weeks that ended on Apr 5, 2014, as against the increase of 2.1% in comps during the same period last year. The decline in sales during the month was mainly due to lower spending and reduced purchases of every item.
First Quarter Guidance
Apart from disclosing the sales performance, Zumiez Inc. (NASDAQ:ZUMZ) had also released the sales and earnings guidance for the first quarter of the financial year 2014. As per the guidance, the company expected the revenues for the first quarter to fall in the range of $156-$160 million, while it anticipate comps to show decline towards the lower single digit range.
Moreover, based on the sales forecast for the quarter, Zumiez Inc. (NASDAQ:ZUMZ) projects the net loss to be in between $0.02-$0.03 per share. The earnings estimate also consists of charges to the tune of $0.02 per share pertaining to the acquisition cost of Blue Tomato.
