Zumiez Inc. 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 October 31.. September month-to-date comparable store sales increased 0.8% while quarter-to-date comparable store sales declined 7.7% for the four and eight week periods ended September 26.
The company now expects fiscal third quarter 2009 comparable store sales to decline in the negative high single digits to low double digits versus its previous expectation for comparable store sales to decline in the low-to-mid teen range. Based on the revised sales and margin projections, the company now expects fiscal 2009 third quarter net income per diluted share to range between 12 cents to 14 cents a share, up from its previously issued guidance of net income between 5 cents to 7 cents.
In the year-ago quarter, Zumiez earned 23 cents a share.
Zumiez issued the update to its guidance because it plans to participate this week in the Jefferies Consumer Summit on
September 30 and will present at the Thomas Weisel Consumer
Conference on October 1.
