Retailer Zumiez (NASDAQ:ZUMZ) announced after the bell that second quarter earnings were lower, and forecast that third quarter profit would be below estimates.
Net income fell to $2.1 million, or 7 cents per share, from $2.6 million, or 8 cents per share, last quarter. The results include 10 cents per share in acquisition costs and expenses related to relocation expense. Total sales increased by 20 percent to $135.1 million. Selling and administrative expenses increased to about 32 percent of sales.
Shares are lower in early trading.
Last week, competitor Hot Topic (NASDAQ:HOTT) reported earnings that met expectations on revenues and earnings per share.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.