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Zumiez Inc. (ZUMZ) - free report >>
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Zumiez Inc. (ZUMZ) - free report >>
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Zumiez: June Sales Soft, Comps Down 15th Time in a Row
Mall-based specialty retailer, Zumiez, Inc. (ZUMZ - Free Report) recently posted its sales data for the five weeks ended Jul 2, 2016, wherein its comparable store sales (comps) marked the fifteenth consecutive monthly decline.
Falling prey to a tough retail environment and overall softness in consumer demand, the company’s net sales for Jun 2016 dipped 0.6% to $66.6 million from $67 million recorded in the prior-year period. Further, comps for the five-week period fell 4.5% compared to a decline of 3.3% in the year-ago period.
Comps remained soft due to slow mall traffic and the absence of defined fashion trends. Additionally, Zumiez is battling headwinds like foreign exchange volatility.
Further, the company began fiscal 2016 on a dismal note, with both its top and bottom lines declining year over year in the first quarter. It posted an adjusted loss of 8 cents a share, which was narrower than the Zacks Consensus Estimate of a loss of 12 cents but marked a sharp decline from earnings of 12 cents in the prior-year quarter. Net sales dropped 2.6% year over year to $173.0 million. Additionally, quarterly comps declined 7.5%. Based on the current scenario, management issued a bleak outlook for the second quarter of fiscal 2016. (Read: Zumiez Posts Q1 Loss; May Comps Slide, Stock Down)
Over the past 60 days, the Zacks Consensus Estimate of 75 cents and 97 cents for fiscal 2016 and fiscal 2017 decreased 26 cents and 25 cents, respectively.
ZUMIEZ INC Price
ZUMIEZ INriC Pce | ZUMIEZ INC Quote
Currently, Zumiez carries a Zacks Rank #5 (Strong Sell). Moreover, shares of this Washington-based sporting goods retailer have plunged 17% over the past three months.
Stocks that Warrant a Look
Some better-ranked stocks in the same industry include Christopher & Banks Corporation , The Children's Place, Inc. (PLCE - Free Report) and Destination XL Group, Inc. (DXLG - Free Report) , all sporting a Zacks Rank #1 (Strong Buy).
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