Zumiez shares up 11% on company's narrower quarterly loss
Shares of Zumiez Inc. surged 11% late Thursday after the clothing retailer swung to a narrower-than-expected quarterly loss. Zumiez said it lost $2.6 million, or 10 cents a share, in the fiscal first quarter, compared with a loss of $4.4 million, or 18 cents a share, in the year-ago period. Sales rose 14% to $206.3 million, from $181.2 million a year ago. Comparable-store sales increased 8.3%, compared with a comparable-store sales increase of 1.8% a year ago. Analysts polled by FactSet had expected a quarterly loss of 12 cents a share on sales of $199 million. The company said it expects sales between $213 million and $217 million in the second quarter, including anticipated comparable-store sales growth between 3% and 5%. It sees net income per share around 4 cents to 9 cents. Shares of Zumiez ended the regular session up 1.3%.
