Action-sports retailer Zumiez said holiday sales were weaker than expected, triggering an after-hours slide in its share price.
December sales at comparable stores fell 2.4 percent, the Lynnwood company said Wednesday. The company said total net sales for the five-week period ended January 4 were $125.3 million, up 4.2 percent.
Zumiez shares were down $1.94, or 7.4 percent, to $24.24 in after-hours trading following the news. The stock ended regular trading at $26.18, down 42 cents of 1.6 percent,
The company said that “based primarily on lower than planned sales quarter-to-date,” it is revising downward guidance for its fiscal fourth quarter, which ends Feb. 1.
- More pet-food recalls linked to potential salmonella contamination
- Seattle company copes with backlash on $70,000 minimum wage
- Man drowns in Lake Washington after hopping off boat
- Impressions from day 3 of Seahawks training camp --- Christine Michael, the center position, Tyler Lockett, and more
- After signing $43 million contract, Bobby Wagner admits he didn’t expect Seattle to draft him
Most Read Stories
The company expects to report sales in the range of $226 million to $229 million, down from previous guidance of $230 million to $237 million, and net income per diluted share of approximately $0.56 to $0.59, compared with guidance of approximately $0.60 to $0.66.