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Zumiez Reports 1Q Loss

Zumiez Inc. has reported a fiscal first-quarter loss of $2.1 million, after reporting a profit in the same period a year earlier.
Zumiez New York store | Source: Flickr/EventPhotosNYC
By
  • Associated Press

LYNNWOOD, United States — Zumiez Inc. on Thursday reported a fiscal first-quarter loss of $2.1 million, after reporting a profit in the same period a year earlier.

The Lynnwood, Washington-based company said it had a loss of 8 cents per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.

The clothing retailer posted revenue of $173 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $172.6 million.

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For the current quarter ending in August, Zumiez said it expects revenue in the range of $172 million to $176 million. Analysts surveyed by Zacks had expected revenue of $176.6 million.

Zumiez shares have declined 1 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.95, a drop of 49 percent in the last 12 months.

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