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Zumiez stock jumps after company ups guidance, reports 11% December net sales growth1-3-18 4:13 PM EST

Zumiez Inc. (ZUMZ) shares jumped 13% in late trading Wednesday after the retailer reported a double-digit rise in December sales and increased its guidance for the fiscal 2017 fourth quarter thanks to stronger-than-expected quarter-to-date sales and product margin performance. Zumiez said its total net sales for December rose 11.4% to $160 million, compared with $143.6 million in December 2016. Comparable-store sales increased 7.9% in the month, compared with an increase of 3.4% in the year-ago period. The company expects fiscal 2017 fourth quarter comparable-sales growth of about 7%, and per-share earnings between 88 cents and 90 cents. This compares with a previous guidance for comparable sales growth between 3% and 5% and per-share earnings between 78 cents and 84 cents. Zumiez stock ended the regular session up 2.5%.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

 

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01-03-18 1613ET

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