Zumiez shares jump on Q3 results, strong November sales

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(Global Markets) - Shares of teen retailer Zumiez Inc (ZUMZ.O) jumped as much as 20 percent on Friday, a day after the company topped quarterly earnings expectations yet again and posted higher-than-expected sales in November.

"Zumiez's merchandise strategy of offering a broad assortment of unique merchandise has resulted in increased conversion and traffic in a promotional environment," Needham analyst Christine Chen said in a note to clients.

Chen also said Zumiez, which has now beaten estimates for at least the past eight quarters, will continue to enjoy pricing power given the uniqueness of its products.

Zumiez sells clothing and equipment for skating, snowboarding and other action sports.

Shares of the Everett, Washington-based company were up 17 percent at $27.43 on Friday morning on Nasdaq. They touched a high of $28 earlier in the session.

(Reporting by Abhishek Takle in Bangalore; Editing by Sriraj Kalluvila)