Net income more that doubled to $9,025,000 from $4,377,000 in the second quarter on 4% higher revenues of $228,425,000 up from $218,971,000 including a 3.6% comp store sales gain, lapping a strong +6.3% comp last year. ZUMZ shares surged 10% in after-hours trading on the news. In a meaningful shift from from H1 ’18 where apparel was much stronger, footwear and hardgoods are now driving sales. In Q2, equipment was the highest positive comping category, followed by footwear and accessories, but men’s and women’s apparel both comped down.
Transaction volume was up in the quarter, as was dollars per transaction helped ... Log in to view full article.