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$ZUMZ said total net sales for the 4-week period ended July 30, 2016 increased 1% to $61.9MM from last year. Comparable sales fell 2.9% for July 2016. For 2Q16, comparable sales decreased 4.9%, which is ahead of forecast of down 6-8%. $ZUMZ sees loss to be at high end or slightly better than estimate of $0.09-0.13 per share.
Apple ($AAPL) reported decline in sales and profits from comparable quarter last year, attributing the decline to announcement of iPhone 7/7s. Sales and profit are being guided higher for next quarter. Apple is a solid company and will continue to dominate tech and consumer electronics segment for a while. Personally, looks like there is little downside in this investment.
Waiting with fingers crossed for $AAPL’s fourth quarter earnings.
Looking ahead to $AAPL earnings release later in the afternoon today? Gene Munster, analyst from Piper Jaffrey and the most respected authority for Apple, had this to say - "The second and slightly larger group of investors believe the tail of the iPhone 7 is irrelevant, and is betting that the iPhone 10th Anniversary will yield a jump in growth from flat to up ~15%."