Zumiez Inc. (ZUMZ), a specialty retailer of action sports related apparel, footwear, equipment and accessories, said Wednesday that its same-store sales rose 8.0% in December.
Total net sales for the five-week period ended January 3, 2015 increased 14.4% to $143.4 million from $125.3 million in the five-week period ended January 4, 2014.
Based mainly on higher than planned sales quarter-to-date and to a lesser extent better product margins, partially offset by foreign currency headwinds, the company raised its guidance and now expects fiscal 2014 fourth quarter net sales in the range of $255 million to $256 million and earnings of $0.75 to $0.77 per share, compared to its prior guidance of net sales in the range of $249 million to $251 million and earnings of $0.69 to $0.72 per share.
The latest guidance is now based on a same-store sales increase of about 7% for the fourth quarter and includes a previously disclosed estimate of $0.6 million, or $0.02 per share, for charges associated with the acquisition of Blue Tomato.
Analysts polled by Thomson Reuters currently expect the company to earn $0.73 per share on revenue of $252.84 million for the fourth quarter. Analysts' estimates typically exclude special items.
Zumiez shares are currently gaining 4.17% in after hours trading after closing the day's regular trading session at $40.28, up $1.82 or 4.73%.
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