Zumiez Inc. on Wednesday announced that total net sales for the four-week period ended February 2, 2019, decreased 18.3 percent to $53.9 million, compared to $66 million for the five-week period ended February 3, 2018.
Net sales growth rate in January was negatively impacted by the 53rd week included in the prior year January as well as the shift in the retail calendar. The company’s comparable sales increased 3.5 percent for the four-week period ended February 2, 2019, compared to the four-week period ended February 3, 2018.
In the prior year, comparable sales increased 6.3 percent for the five-week period ended February 3, 2018. Fourth quarter 2018 comparable sales increased 3.9 percent for the 13-week period ended February 2, 2019, compared to the previous estimate of approximately 3 percent.
Based primarily on stronger than expected sales for the quarter, the company is increasing guidance and now expects earnings per share between $1.10 and $1.12. This compares to the previous updated guidance for earnings per share between $1.08 and $1.10. Zumiez plans to report February 2019 sales and fourth quarter 2018 results on March 14, 2019.
