Zumiez's key sales figure up 0.8 percent in July
Zumiez says key sales measure up 0.8 percent in July, below market's forecast
Zumiez Inc., a seller of clothing, shoes and equipment for action sports, said Wednesday that a key revenue measure grew 0.8 percent for the four weeks through Aug. 3.
Analysts were anticipating this metric would increase 1.7 percent, according to Thomson Reuters. It's considered a key measure of a retailer's financial health as it strips away the impact of recently opened or closed stores.
The company's total revenue increased 19.3 percent from a year ago to $56.1 million.
Zumiez reported that the gains were seen in the last two weeks of the period. The retailer said its juniors and shoe departments performed well, which helped offset weaker sales trends in its men's, boys and accessories departments.
The Lynnwood, Wash., company operates 529 Zumiez and Blue Tomato stores in North America and Europe. The bulk of stores are in the U.S.
Shares of Zumiez fell 76 cents to close at $27 Wednesday amid a broader market decline and were unchanged in after-hours trading.
