Zumiez Sees Q4 EPS $0.24-$0.34 Vs $0.40 Est.; Revenue $275M-$281M Vs $263.43M Est.
Portfolio Pulse from Benzinga Newsdesk
Zumiez reported a 4.6% decrease in Q4-to-date total sales and a 6.0% decrease in comparable sales for the 31-day period ending November 28, 2023, compared to the same period last year. The company provided Q4 guidance with net sales expected to be $275M-$281M, surpassing the $263.43M estimate. However, projected Q4 EPS is $0.24-$0.34, below the $0.40 estimate. Zumiez plans to open 19 new stores in fiscal 2023 across North America, Europe, and Australia.
November 30, 2023 | 9:10 pm
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NEUTRAL IMPACT
Zumiez's Q4-to-date sales declined, but projected net sales exceed estimates. EPS guidance is below expectations, indicating mixed financial performance. The expansion plan may signal long-term growth.
The lower than expected EPS guidance suggests potential short-term negative impact on Zumiez's stock price. However, the higher projected net sales and expansion plans could mitigate this impact and suggest a neutral to slightly positive outlook in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100