Zumiez released its 8K today, revealing December 2008 sales were down 12.3% for the five week period ending January 3rd, versus a comparable store sales increase of 3.9% in the year ago period ended January 5, 2008.
“Total net sales for the five-week period ended January 3, 2009 decreased 0.1% to approximately $72.0 million, compared to approximately $72.0 million for the five-week period ended January 5, 2008.”
To read the entire report, click HERE.
Stay tuned to Transworld Business for a full report Market Watch report from Jeff Harbaugh.
In the second installment of Retail Round Up, we’re looking at how several major Department Stores have performed in 2008, and how those results match up against specialty stores.
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Let’s ignore the numbers for a bit and start with how Hot Topic Describes itself. They give equal billing to brick and mortar and internet retailing. That’s pretty forward looking. Guess they’ve decided how they expect the market to evolve. Read more here.
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Zumiez’s Quarter Ended November 1st is boring - but that’s good. When it comes to public filings, the last thing you want is for your company’s filings to be filed with interesting stuff that somebody like me can have a great time dissecting. I’m afraid that I’ll have almost no fun at all reviewing this filing. Oh well.
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It’s Monday morning and the DOW at the moment is up 575 points, so obviously all our problems are solved. Just kidding. But at the very least, the coordinated international approach to beginning to manage some of the issues of bank solvency is working to reduce irrational panic. I’m guessing we’ll have an announcement from the U.S. Treasury shortly that they are doing much the same thing the Europeans did. If there is no such announcement, we might have the arbitrage moment from hell, as money flows out of non guaranteed banks in the U.S. to guaranteed banks in Europe. Read more here.
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Back on September 23, I posted an article that highlighted, among other things, Zumiez’s valuation and management of its issue with auction rate securities. I said that I thought other companies would be having similar issues if they weren’t already. Guess what? They are, and I didn’t want to leave Zumiez hanging out there like they were the only one. Read more here.
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