Zumiez announced strong comp sales for the month of October on Wednesday afternoon, and the company raised its Q3 earnings guidance for the second time.
Comparable sales rose 10.2% for the month, with men’s, junior’s, accessories and footwear all posting positive results.
Hardgoods was the only category that declined.
For the entire quarter, comp sales increased 4%. Originally, Zumiez had expected Q3 comp sales to be down 2% to flat.
Then in early October, it raised the outlook to up 2%. And today, it bested both estimates with the 4% increase.
An increase in the number of transactions helped boost same-store sales in October, the company said.
The company now expects Q3 earnings per share to range from 35 cents to 36 cents vs. the previous expectations of 29 cents to 30 cents announced in early October.
Originally, Zumiez had predicted Q3 earnings per share of 21 cents to 26 cents.
Any positive results at retail these days is noteworthy, and especially so when the good news is coming from an important industry customer like Zumiez.
Zumiez operates a total of 688 stores.
