Zumiez (ZUMZ) Q1 Earnings: What To Expect

Radek Strnad /
2024/06/05 3:00 am EDT

Clothing and footwear retailer Zumiez (NASDAQ:ZUMZ) will be announcing earnings results tomorrow after market close. Here's what to expect.

Zumiez beat analysts' revenue expectations by 1.9% last quarter, reporting revenues of $281.8 million, flat year on year. It was a weak quarter for the company, with revenue guidance for next quarter missing analysts' expectations.

Is Zumiez a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Zumiez's revenue to decline 6.2% year on year to $171.5 million, improving from the 17.1% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$1.13 per share.

Zumiez Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Zumiez has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 1.5% on average.

Looking at Zumiez's peers in the apparel retailer segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Gap delivered year-on-year revenue growth of 3.4%, beating analysts' expectations by 3.1%, and Abercrombie and Fitch reported revenues up 22.1%, topping estimates by 5.8%. Gap traded up 29.3% following the results while Abercrombie and Fitch was also up 17.1%.

Read our full analysis of Gap's results here and Abercrombie and Fitch's results here.

There has been positive sentiment among investors in the apparel retailer segment, with share prices up 8.3% on average over the last month. Zumiez is up 8.2% during the same time and is heading into earnings with an average analyst price target of $15 (compared to the current share price of $19.2).

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