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.
- The hidden homeless: families in the suburbs
- Home prices charge ahead, driving some buyers farther afield
- How the Seahawks got two first-round picks in the NFL draft
- Here are Seattle-area companies employees enjoy working at most
- Mayor, Chris Hansen denounce misogynistic comments over council arena vote
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.