Zumiez July Sales Analyst Roundup

Benzinga

Zumiez (NASDAQ: ZUMZ) on Wednesday released its sales results for the four-week period ended August 2.

A number of analysts have issued reports describing how the data has affected their outlook for the stock.

For the period, Zumiez posted an 11.9 percent increase in total net sales bringing it to $62.8 million, compared to $56.1 million in the same period last year.

The company also saw an increase in its comparable sales of 3.5 percent, which compares to 0.8 percent a year ago.

D.A. Davidson - Buy, $36
"With merchandise margins holding up, we believe upside capacity to earnings estimates is possible if comp trends continue to steadily creep higher."

Mizuho - Neutral, $30
"We expect ZUMZ shares to remain range bound on a solid July comp that was widely anticipated by the Street. Encouragingly, ZUMZ maintained its momentum from June (flattish sequentially on a 2-year stack) despite challenging traffic and incremental discounting from mall-based peers."

Topeka - Buy, $36
"Zumiez delivered another stronger than expected month in July, despite continued declines in mall traffic which have hurt many of its competitors. Based on its focus on brands as well as our own channel checks in the month, we also think it was able to achieve these results without the excessive levels of promotions that have become standard practice throughout the sector."

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