Zumiez holiday sales plunge 22.2%; comparable sales down 23.9% vs prior year

Zumiez Inc

Total net sales for nine weeks ended Dec 31, 2022 fell 22.2% compared to same period last year.
North America net sales decreased 26.7%; other international (Europe, Australia) increased 1.9% (10.5% ex-forex).
All categories down in comparable sales; men's most negative, followed by Hardgoods, accessories, women's, footwear.
Q4 FY2022 sales guidance raised to slightly above $268M upper end; EPS expected mid-to-high end of $0.36-$0.51 range.
CEO cites discretionary spending pullback, inflation, promotional marketplace, and discounting to move inventory.

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