Zumiez (ZUMZ) delivered earnings and revenue surprises of 24.56% and 3.39%, respectively, for the quarter ended April 2024. Do the numbers hold clues to what lies ahead for the stock?
Clothing and footwear retailer Zumiez (NASDAQ:ZUMZ) reported results ahead of analysts' expectations in Q1 CY2024, with revenue down 3% year on year to $177.4 million. On top of that, next quarter's revenue guidance ($201.5 million at the midpoint) was surprisingly good and 5.7% above what analysts were expecting. It made a GAAP loss of $0.86 per share, improving from its loss of $0.96 per share in the same quarter last year.
Board Approves New Stock Repurchase AuthorizationLYNNWOOD, Wash., June 06, 2024 (GLOBE NEWSWIRE) -- Zumiez Inc. (NASDAQ: ZUMZ), a leading specialty retailer of apparel, footwear, equipment and accessories for young men and women, today reported results for the first quarter ended May 4, 2024. Net sales for the first quarter ended May 4, 2024 (13 weeks) decreased 3.0% to $177.4 million from $182.9 million in the first quarter ended April 29, 2023 (13 weeks). Net loss in the first quarter of fisca