Janney Capital Lowers Numbers on Zumiez (ZUMZ) on Comps Miss
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Price: $18.64 --0%
Rating Summary:
6 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
6 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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Janney Capital trimmed estimates and its price target on Neutral-rated Zumiez, Inc. (NASDAQ: ZUMZ) from $23 to $22 after a SSS miss. ZUMZ reported a February comp store sales miss of -8.9% versus Retail Metrics consensus of -1.3%.
"Despite the cold weather that continued throughout February, ZUMZ could not carry forward the momentum from the comp upside achieved in January as a result of strength in snow categories and hard goods," analyst Adrienne Tennant comments. "Like many seasonal retailers, the peak of the hard goods season for ZUMZ is in 4Q12, and colder weather in the early spring hurt ZUMZ as well. Although hard goods and juniors comped positively in February, it was not enough to overcome the negative comp in the footwear, men's, accessories, and boys categories."
The firm is maintaining 4Q12 and FY12 EPS estimates of $0.75 (versus consensus of $0.74), and $1.57 (versus consensus of $1.56), respectively. Based on significantly slowing comp trends and softening category performances, they are lowering FY13 and FY14 EPS estimates; FY13 estimate goes to $1.59 from $1.66 (versus consensus of $1.64), and FY14 estimate goes to $1.77 from $1.85 (versus consensus of $1.86).
For an analyst ratings summary and ratings history on Zumiez, Inc. click here. For more ratings news on Zumiez, Inc. click here.
Shares of Zumiez, Inc. closed at $23.10 yesterday.
"Despite the cold weather that continued throughout February, ZUMZ could not carry forward the momentum from the comp upside achieved in January as a result of strength in snow categories and hard goods," analyst Adrienne Tennant comments. "Like many seasonal retailers, the peak of the hard goods season for ZUMZ is in 4Q12, and colder weather in the early spring hurt ZUMZ as well. Although hard goods and juniors comped positively in February, it was not enough to overcome the negative comp in the footwear, men's, accessories, and boys categories."
The firm is maintaining 4Q12 and FY12 EPS estimates of $0.75 (versus consensus of $0.74), and $1.57 (versus consensus of $1.56), respectively. Based on significantly slowing comp trends and softening category performances, they are lowering FY13 and FY14 EPS estimates; FY13 estimate goes to $1.59 from $1.66 (versus consensus of $1.64), and FY14 estimate goes to $1.77 from $1.85 (versus consensus of $1.86).
For an analyst ratings summary and ratings history on Zumiez, Inc. click here. For more ratings news on Zumiez, Inc. click here.
Shares of Zumiez, Inc. closed at $23.10 yesterday.
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