earnings
confidence high
sentiment negative
materiality 0.65
Zumiez holiday sales down 4.4%; guides Q4 near low end of range
Zumiez Inc
- Total net sales for 9-week holiday period ended Dec 30, 2023 fell 4.4% YoY; comparable sales down 5.9%.
- North America net sales decreased 6.6%, comparable sales down 6.3%; other international net sales up 4.2% (comparable down 4.2%).
- Men's category posted positive comps; women's most negative, followed by hardgoods, accessories, footwear.
- Now expects Q4 FY2023 sales near low end of $275M-$281M range; EPS near low end of $0.24-$0.34.
- Extra week in Q4 2023 contributes ~4% to year-over-year growth; warm weather and low snowfall cited as headwinds.