Zumiez (ZUMZ) reported much better than expected sales and earnings for the third quarter, sending shares 12% higher in trading after the market closed.
Zumiez posted 45 cents of EPS, 3 cents better than expectations. The sports retailer also reported that its same store sales grew 8.7% in November, above expectations for 2.7%.
Zumiez projected forth quarter earnings of 52 cents to 54 cents, versus expectations for 52 cents.
“Our merchandise, new store opening, and e-commerce strategies once again allowed us to deliver on our goal of consistent sales and earnings growth. During the third quarter we continued to execute on key initiatives aimed at driving productivity, expanding our geographic footprint, and bringing our unique in-store experience to the internet,” said CEO Rick Brooks in a statement.
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