Zumiez Jumps on up to $150 Million Share Buyback Plan By Investing.com

0
31
© Reuters.

By Dhirendra Tripathi

Investing.com – Zumiez stock (NASDAQ:) climbed 6% Friday after the company said it will repurchase shares worth $150 million.

The buyback will close on January 28, 2023. The repurchases will be made from time to time on the open market at prevailing market prices, the company said.

Zumiez has 25.16 million shares outstanding with a market cap of just over $1 billion as per the trading price of $41.88 at 11:00 AM ET.

The company had cash and current marketable securities of $412 as of July 31 with total current assets at $597.83 million.   

Zumiez did not provide an outlook for the ongoing quarter while May to July net sales rose 7.3% to $268.7 million. Diluted earnings per share fell to 94 cents from $1.01 in the same quarter last year.   

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.