Zumiez’s March sales were better than Street projections, with comps down 2.9% against a 2.1% year-ago comparison, better than our and consensus projection for a midsingle-digit decline. As a result, Zumiez’s quarter-to-date comp decline of 0.8% is at the better end of management’s guidance for a full-quarter comp decrease in the low-single-digit range. Category trends…
Urban Outfitters Quarter-to-Date Comps on Track Versus Expectations
In its 10-K filed after the markets closed on Tuesday, Urban Outfitters indicated quarter-to-date comp trends are in the negative low-single-digit range, likely putting the company on track to meet full-quarter consensus expectations for an approximate 1% comp increase and our estimate of relatively flat given the shift in Easter to late April. Urban’s 10-K…
UniFirst Corporation Fiscal Second-Quarter Misses on Margin Pressure
UniFirst reported fiscal second-quarter adjusted EPS of $1.27, which were flat year-over-year and below both our $1.36 estimate and the $1.39 Street consensus. The miss was mainly driven by margin pressure, as multiple factors, such as increased natural gas prices, elevated bad debt expense, and lost leverage in the Specialty Garments business, all hit at…