Why Zumiez Inc. Stock Popped 45.4% in September
Shares of Zumiez Inc. (NASDAQ: ZUMZ) climbed 45.4% in September, according to data from S&P Global Market Intelligence, after the streetwear specialist announced better-than-expected second-quarter results.
Zumiez stock skyrocketed more than 23% on Sept. 8, 2017 alone -- the first trading day after its quarterly report -- then continued to drift higher for the duration of the month as the market celebrated its performance.
That's not to say Zumiez results looked particularly impressive at first glance. Quarterly revenue climbed a modest 7.8% year over year to $192.2 million, helped by a 4.7% increase in comparable sales. On the bottom line, that translated to a net loss of $0.6 million, or $0.02 per share, narrowed from a $0.03-per-share net loss in the same year-ago period. By comparison, however, Zumiez's latest guidance had called for significantly lower revenue in the range of $185 million to $189 million, assuming comparable sales growth of 1% to 3% and a much wider per-share net loss in the range of $0.06 to $0.11.
Source: Fool.com
