I'm well past their customer age. Every time I walk the mall I check their store traffic. The store is always empty. Unlike other teen stores at its height like Abercombie's Hollister. That was high traffic. Not so with Zumiez. I can't figur this one.
I hope I am not overstating the obvious...how many malls have you tried?
Actually I used to think the same thing. I shorted this stock about 3 1/2 years ago, when it was selling at a P/E of around 80. Although I made money, in the long run the valuation was not as out of whack as I thought. Empty store or not, the company has consistentlty grown earnings over the last 2 years.