Market Commentary and Intraday News
Zumiez key revenue metric up 5.6 pct. in Sept.
234 days ago
(AP:LYNWOOD, Wash.) Specialty sports equipment and clothing company Zumiez says revenue at stores open at least a year climbed 5.6 percent in September.
This figure is a key indicator of a retailer's health because it excludes results from stores recently opened or closed.
Its shares rose almost 5 percent in premarket trading.
Zumiez Inc., which also provides sports related footwear and accessories, said Tuesday that total revenue for the five weeks ended Sept. 29 rose 18.6 percent to $62.7 million.
For the quarter to date, revenue at stores open at least a year increased 4.6 percent.
Zumiez, which is based in Lynwood, Wash., had 489 stores in the U.S., Canada and Europe as of Sept. 29. In August the company reported that its second-quarter net income fell slightly as revenue rose 20 percent.
Its shares rose $1.35, or 4.9 percent, to $28.84 in premarket trading. At Monday's closing price, shares were down 34 percent from a 52-week high of $41.96 on June 19. They traded as low as $15.85 almost a year ago.
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