BUZZ-Zumiez up after upbeat Q3 results

Reuters
2024-12-06
BUZZ-Zumiez up after upbeat Q3 results

** Shares of apparel and footwear retailer Zumiez ZUMZ.O rise ~13% to $22.80 premarket

** Co posted Q3 results after market close on Thursday

** Q3 net sales rose 2.9% YOY to $222.5 mln from $216.3 mln last year, helped by strong North American business and gains in apparel and footwear categories

** Reports Q3 EPS of 6 cents, vs. loss of 12 cents the previous year

** Co also forecasts net sales of $284 mln to $288 mln and EPS of about 83 cents to 93 cents for Q4; says total Q4 sales till Dec. 3 have increased 10% YOY

** Brokerage William Blair notes the two sequential quarters of positive comparable sales growth help cement that a more tangible recovery is underway, after over two years of weaker performance

** Up to Thursday's close, stock has fallen ~1% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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