Retailer Zumiez Stock Falls After Q2 Performance - Revenue Dip, Weak Outlook and More
Portfolio Pulse from Ryan Gustafson
Zumiez Inc. (NASDAQ:ZUMZ) reported Q2 losses of 44 cents per share, beating the analyst consensus estimate of losses of 67 cents. Quarterly sales were $194.44 million, beating the analyst consensus estimate of $190.16 million. However, this represents an 11.62% decrease over sales of $219.99 million in the same period last year. The company issued weaker Q3 revenue guidance between $211 million and $216 million, compared to the $217.83 million estimate. Shares of ZUMZ were down 5.95% in the after-hours session.
September 07, 2023 | 9:07 pm
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Zumiez reported better than expected Q2 results but issued weaker Q3 guidance. This led to a 5.95% drop in the company's stock in after-hours trading.
Zumiez's Q2 results were better than expected, which would typically lead to a positive reaction in the stock market. However, the company's weaker Q3 guidance likely overshadowed these results, leading to a drop in the stock price. This suggests that investors are more concerned about the company's future performance than its past results.
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IMPORTANCE 80
RELEVANCE 100