Zumiez Q4 Results Edge Past Estimates; Outlook Weak

(RTTNews) - Action sports retailer Zumiez Inc. (ZUMZ) reported net income for the fourth quarter of $17.5 million or $0.60 per share, compared to $26.9 million or $0.89 per share for the year-ago quarter.

The latest quarter results include Blue Tomato acquisition charges of $6.9 million, or $0.20 per share.

Total net sales for the fourth quarter rose 14.0% to $258.6 million from $226.8 million a year earlier. Comparable sales for the 13-week period ended January 31, 2015 increased 8.3%.

Analysts polled by Thomson Reuters expected the company to earn $0.79 per share on revenue of $257.74 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecasts net sales of $176 million to $178 million and earnings of $0.08 to $0.10 per share, which includes an estimated $1.1 million, or about $0.03 per share, for charges associated with the acquisition of Blue Tomato. Analysts currently expect the company to earn $0.14 per share on revenue of $181.29 million for the first quarter.

The company currently intends to open about 57 new stores in fiscal 2015, including up to 7 stores in Canada and 6 stores in Europe.