Zumiez drops after downbeat Q4 outlook
02/12/2022 14:34
** Shares of Zumiez Inc ZUMZ.O down ~4% at $20.98
premarket
** The retailer's stock set to decline for a third straight
day, if current losses hold
** ZUMZ after market on Thursday forecast Q4 sales and
profit below estimates even as Q3 results topped expectations
** Co sees Q4 net sales between $258 mln and $265 mln, below
estimates of $302.7 mln; expects profit of 36 cents to 51 cents
per share, vs est of $1.09/share
** ZUMZ is on the backend of a skate boom that had driven
significant growth - Jefferies
** As of Thursday's close, Zumiez stock down ~55% YTD
(Reporting by Deborah Sophia in Bengaluru)
((DeborahMary.Sophia@thomsonreuters.com))