ZUMZ - Zumiez Q1 sales jump 102% backed by in-person shopping

Zumiez's net sales (ZUMZ) for Q1 2021 rose 102.6% to $279.1M, beats consensus by $57.22MThe apparel retailers said sales were driven by the company's ability to capture meaningful share of the heightened discretionary spending in the U.S. related to government stimulus, especially in the stores, as customers became comfortable to return to in-person shopping.Net sales for the four-week period ended May 29, grew by 42.4%, compared to the year ago period.Gross profit margin improved to 37% from 17.2% prior.GAAP net income increased to $1.03 per share, compared to a net loss of $0.84 per share.As of May 1, Zumiez had cash and current marketable securities of $400.4M, compared to $217.2M a year earlier.Revenue consensus for the year ending Jan. 2022 is $1.09B, while GAAP EPS consensus estimate is $4.37.Previously: Zumiez beats on revenue (June 3)

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Zumiez Q1 sales jump 102% backed by in-person shopping