Shares of specialty retailer Zumiez (NASDAQ:ZUMZ) are tanking in the pre-market session today after the company announced fourth-quarter numbers.
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Revenue dropped 19.2% year-over-year to $280.1 million, surpassing estimates by $11.5 million. EPS at $0.59 too came in better than expectations by $0.10.
The company is witnessing a difficult operating environment and the Q4 results were lower than its year-ago performance. Further, so far in the first quarter, it has seen a 15.5% drop in sales alongside a 16.6% decline in comparable sales.
Looking ahead, for full Q1, ZUMZ expects the top line to hover between $178 million and $184 million. While the company has delivered a positive bottom line for more than eight consecutive quarters, it now anticipates a net loss per share between $0.85 and $0.95 for Q1. Additionally, ZUMZ is looking to open 23 new stores during the year.
Shares of the company have now tanked nearly 50% over the past year. At the same time, short interest in the stock remains high at about 20.6% at present.
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