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Zumiez Revenue Improved More than Expected

Financial News Network
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October 07, 2011 AT 1:16 PM
On Wednesday, Zumiez (NASDAQ:ZUMZ) announced that their monthly revenue figure was ahead of expectations as sales improve.The better than expected sales raises their Q3 earnings outlook while the company said it saw an increase in the amount spent by shoppers per transaction. That was partly offset by a fall in sales volume.Zumiez also anticipates revenue will range from $150 million to $152 million.Analysts' consensus forecast calls for earnings of 40 cents a share on $149.4 million in revenue for the quarter, according to FactSet.Zumiez (NASDAQ:ZUMZ) has a potential upside of 17.3% based on a current price of $20.75 and an average consensus analyst price target of $24.33.