Zumiez 1st-quarter loss less than expected

Zumiez Inc. reported a first quarter loss on Thursday as same-store sales dropped, but the loss was less than analysts expected.

However, the company forecast a second-quarter loss greater than analysts predicted.

The company said it lost $1.7 million, or 6 cents per share, compared with a year-ago profit of $1.4 million, or 5 cents per share, a year ago.

Revenue fell 2 percent to $76.8 million.

Analysts surveyed by Thomson Reuters, on average, predicted a loss of 8 cents per share of on revenue of $76.5 million

Sales in stores open at least one year, a key retail metric known as same-store sales, fell 15.3 percent.

The company said it expects a loss of 17 cents to 14 cents per share in the second quarter on a same-store sales decline in the low-to-mid 20 percent range. Analysts expect a 7 cents per share loss.