Zumiez Inc. said total net sales for the five-week period ended Jan. 2, 2010 increased 7.7% to $77.6 million compared to $72.0 million for the five-week period ended Jan. 3, 2009.
The company's comparable store sales increased 0.3% for the five-week period, versus a comparable store sales decrease of 12.3% in the year ago period.
The company said that based on better-than-planned quarter-to-date sales and product margins, it is increasing its expected sales and earnings guidance for the quarter ending January 30, 2009. The company now expects fiscal fourth quarter 2009 comparable store sales to decline in the mid-to-low single digit range versus its previous expectation for comparable store sales to decline in the high-to-mid single digit range.
Based on the revised sales and margin projections, the company now expects fiscal fourth quarter 2009 net income per diluted share to range between 24 cents to 27 cents, up from its previously issued guidance of net income per diluted share between 18 cents to 22 cents.
This guidance excludes any potential non-cash impairment charges and an accrual for a previously disclosed lawsuit. These potential expenses are currently being evaluated as part of the year end closing process and if material will be discussed in our year end earnings release in March 2010.
