By Chris Wack
Zumiez shares were down 12% to $16.54 after the retailer cut its fourth-quarter sales and earnings per share guidance.
The apparel and footwear company said it expects fourth-quarter sales to be $275 million to $277 million, compared with previous guidance of $284 million to $288 million. Analysts polled by FactSet are looking for quarterly sales of $285.5 million.
The Lynnwood, Wash., company also said it is looking for earnings of 72 cents to 77 cents a share, down from its previous guidance of 83 cents to 93 cents a share. Analysts are looking for earnings of 83 cents a share.
Zumiez said it cut guidance because comparable sales for the Dec. 2024 holiday period were lower than expected. North America comparable sales were up 6.9%, and international sales were up 1.1% over the previous holiday period. the company said accessories was its most negative category, followed by hardgoods.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 13, 2025 11:00 ET (16:00 GMT)
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