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Zumiez plummets 25.9% on wider Q1 loss and soft outlook
- Zumiez shares plummeted 25.9% on June 5, closing at $17.39 on a massive volume spike of 1.29 million shares, which is 10.6 times its 20-day average.
- The retailer reported a GAAP loss of $0.82 per share, which was 1.7% worse than consensus estimates, alongside a soft Q2 revenue guidance of $212.5 million.
- Executives cited intensifying pressure on consumer discretionary spending late in the quarter and continuing into May, prompting a cautious outlook.
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Conclusion
Price fell from $23.48 (June 4) to $17.39 (June 5), a 25.9% drop. Volume was 1,294,700 vs 20-day average of 122,667 (10.6x ratio). Q1 GAAP loss of $0.82 per share vs consensus estimates.