Zumiez Q2 Profit Down, Outlook Weak; Shares Down

(RTTNews) - Zumiez Inc. (ZUMZ) Thursday reported second-quarter profit of $3.2 million or $0.11 per share, down from $7.5 million or $0.26 per share last year.

Results for the quarter include costs of $0.4 million for charges associated with the acquisition of Blue Tomato, while last year results included charges of $0.6 million.

On average, 16 analysts polled by Thomson Reuters expected earnings of $0.12 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the second quarter grew 1.8 percent to $179.8 million from $176.7 million last year. Analysts had a consensus revenue estimate $180.0 million for the quarter.

Looking forward to the third quarter, the company expects earnings of $0.27 to $0.31 per share and net sales of $202 million to $206 million. Analysts currently expect earnings of $0.53 per share on revenues of $224.7 million for the quarter.