Tuesday, May 22, 2012
Zumiez profit beats estimates on better margins
Teen-focused retailer Zumiez Inc posted a better-than-expected quarterly profit on improved margins but forecast second quarter earnings below estimates. Photo: ZumiezThe surfing and snowboarding merchandise retailer, which began with a single store location in 1978, has been increasing its sales with consistent store openings and simultaneously growing its e-commerce platform. Zumiez plans to open about 50 new stores in fiscal 2012, including up to 10 stores in Canada. First-quarter net income
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