|11:18 EDT||ZUMZ, PSUN, URBN, ARO, AEO||Zumiez rallies after raising second quarter outlook|
Shares of action sports apparel retailer Zumiez (ZUMZ) are moving higher after the company raised its second quarter outlook. WHAT'S NEW: Last night, Zumiez raised its Q2 earnings per share outlook to 19c-21c from 12c-16c, compared to consensus of 18c. It also raised its Q2 revenue view to $174M-$176M from $167M-$171M, versus consensus of $171.6M. The guidance is predicated on a low single digit comparable store sales increase for the second quarter, and includes a previously disclosed estimate of $0.6M, or approximately 2c per diluted share, for charges associated with the acquisition of Blue Tomato, the company explained. The company cited better than planned sales results for the increased Q2 outlook. PRICE ACTION: In late morning trading, Zumiez rose $2.45, or about 9%, to $30.45 on heavy trading volume. The stock is quickly approaching its 52-week high of $31.31. Including today's advance, the stock is down approximately 2% over the past 12 months. OTHERS TO WATCH: Other mall-based apparel retailers include Pacific Sunwear (PSUN), Urban Outfitters (URBN), Aeropostale (ARO) and American Eagle (AEO).