Zumiez Stock Surges Late Thursday on Q2 Earnings Beat

Zumiez (NASDAQ:ZUMZ) stock was rising late in the day Thursday as the company reported its quarterly earnings results, which handily topped what Wall Street was calling for.

Zumiez Stock

The trendy apparel retailer said that for its fiscal second quarter of 2018, it amassed net income of $4.4 million, or 17 cents per share. The figure was stronger than the company’s loss of 2 cents per share during its year-ago quarter.

Zumiez’s earnings for the period was stronger than the 13 cents per share that analysts were calling for, according to a survey conducted by Zacks Investment Research. The company also came in ahead of expectations with its revenue for the period, which reached $219 million.

The figure was ahead of the $218 million that analysts were projecting, according to Zacks. Zumiez added that its same-store sales grew by 6.3% compared to the year-ago quarter, ahead of the 5.5% increase that Wall Street called for in its consensus estimate, according to data compiled by Consensus Metrix.

For its third quarter of the fiscal year, the company sees its earnings as being between 45 cents to 51 cents per share, while its sales are slated to be between $247 million to $252 million. Wall Street is calling for third-quarter earnings of 45 cents per share and $250 million in sales.

ZUMZ stock was up about 2.9% after the bell on Thursday as the company reported strong earnings for its second quarter. Shares had declined about 3.2% during regular trading hours in anticipation of the company’s results.

Article printed from InvestorPlace Media, https://investorplace.com/2018/09/zumiez-zumz/.

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