Zumiez (NASDAQ:ZUMZ) to Repurchase $15.00 million in Outstanding Shares

Zumiez (NASDAQ:ZUMZ - Get Free Report) announced that its board has initiated a stock buyback program on Thursday, June 5th, RTT News reports. The company plans to repurchase $15.00 million in outstanding shares. This repurchase authorization permits the apparel and footwear maker to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Zumiez Price Performance

NASDAQ:ZUMZ traded up $0.28 during trading hours on Thursday, hitting $12.86. The stock had a trading volume of 510,138 shares, compared to its average volume of 300,167. The company has a 50 day simple moving average of $12.75 and a two-hundred day simple moving average of $15.78. The firm has a market capitalization of $251.63 million, a price-to-earnings ratio of -5.00 and a beta of 0.90. Zumiez has a one year low of $11.31 and a one year high of $31.37.

Zumiez (NASDAQ:ZUMZ - Get Free Report) last announced its earnings results on Thursday, March 13th. The apparel and footwear maker reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.01). Zumiez had a negative net margin of 5.60% and a negative return on equity of 2.67%. The company had revenue of $279.16 million during the quarter, compared to analysts' expectations of $276.47 million. During the same period in the prior year, the business earned $0.40 earnings per share. The company's revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts anticipate that Zumiez will post -0.12 earnings per share for the current year.

About Zumiez

Zumiez Inc operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. The company provides hardgoods, including skateboards, snowboards, bindings, components, and other equipment. It operates stores in the United States, Canada, Europe, and Australia under the names of Zumiez, Blue Tomato, and Fast Times.

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