ZUMZ - Zumiez stock slumps aftermarket on disappointing forecast

Zumiez (NASDAQ:ZUMZ) stock slumped 17% postmarket after the apparel retailer reported Q4 results that missed Street estimates and issued a disappointing Q1 forecast. Total Q1-to-date sales for the 35 days ended Mar. 5, 2022 decreased 1.9% vs. the same 35-day period in the prior year ended Mar. 6, 2021. ZUMZ expects Q1 net sales of $215M-221M, down ~21-23% Y/Y. The outlook factors in the positive impact of stimulus on net sales in Q1 of 2021 and current economic uncertainty. With this reduction in sales, ZUMZ expects deleverage in the income statement related to fixed costs and re-introduction of expenses forgone in 2021 as a result of the COVID-19 pandemic such as store wages, training and travel. ZUMZ estimates Q1 EPS of $0-0.10 vs. $1.70 in the year-ago period. The company intends to open ~34 new stores in 2022, including up to 15 stores in North America, 14 in Europe and 5

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Zumiez stock slumps aftermarket on disappointing forecast