Jeff Harbaugh discusses Zumiez's latest quarterly report and provides some insight into credit markets conditions. Click here for the full analysis in this week's Market Watch.

Piper Jaffray & Co. downgrades Zumiez (Nasdaq: ZUMZ) from Buy to Neutral. Price target $18.

Net sales climb 13.1% despite analysts' predictions of a decline.

"We continue to make positive strides in our ongoing efforts to give our customers a unique specialty retail experience, while controlling costs and effectively managing inventories during this very difficult operating environment. Due to this focus, we exceeded our earnings projection for the first six months of this year. We have opened 39 stores this year and continue to make the investments necessary to build the Zumiez chain to our goal of 800 stores." —Rick Brooks, President and CEO

Trevor Lang, Zumiez chief financial officer, reports the latest information on the company's sales for June 2008, which includes a 3.4 percent decrease in same-store sales compared to Zumiez same five-week period last year.

According to Zumiez first quarter report released today, May 22, net sales have increased for the company by 14.4 percent to $78.7 million. Read the full report here.

Zumiez Best Foot Forward is a jam format Am contest series that will give up-and-coming skaters a boost. The BFF series takes off from the Rio Vista skate park in Peoria, AZ on May 27th.