Zumiez Inc: Rises as skateboard demand drives Q2 results beat

Zumiez

11/09/2020 13:43

** Retailer's  ZUMZ.O  shares up ~6% at $26.77 premarket, a
day after it reports Q2 results beat and same-store sales growth
of 37% 
    ** Says upbeat Q2 sales due to more full-price sales and
higher online demand across categories, particularly skateboards
 urn:newsml:reuters.com:*:nGNX84LxJy
    ** Brokerage Jefferies raises PT to $37, says renewed
interest in skateboards to be further supported by its status as
a "socially distancing friendly" activity 
    ** Jefferies' Janine Stitcher adds that momentum for skate
unit could also extend into the snowboard category. 
    ** Company, however, expects weaker back-to-school demand to
hit Q3
    ** Stock has fallen ~27% so far this year

 (Reporting by Aishwarya Venugopal in Bengaluru)
 ((Aishwarya.Venugopal@thomsonreuters.com; within U.S.
+1-646-223-8780; outside U.S. +91 80 6749 2830;))