Zumiez Earnings: Here’s Why Investors are Not Happy Now
Zumiez, Inc. (NASDAQ:ZUMZ) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 5.3%.
Zumiez, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 17.65% to $0.20 in the quarter versus EPS of $0.17 in the year-earlier quarter.
Revenue: Rose 16.9% to $157.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Zumiez, Inc. reported adjusted EPS income of $0.20 per share. By that measure, the company beat the mean analyst estimate of $0.17. It beat the average revenue estimate of $157.78 million.
Quoting Management: Rick Brooks, Chief Executive Officer of Zumiez Inc., stated, “We are pleased with our second quarter earnings results in what proved to be a challenging retail environment. We believe we have compelling merchandise assortments and our efforts to enhance our omni-channel capabilities are yielding positive gains. With significant expansion opportunities still ahead of us, we continue to invest in our people and infrastructure in order to best position the company to deliver sustainable sales and earnings growth and shareholder value for years to come.”
Key Stats (on next page)…