Ahead of the Bell: Analysts weigh in on Crocs, Zumiez

NEW YORK—A JPMorgan analyst cut his estimates on Crocs Inc. late Wednesday after the shoe maker posted lower-than-expected first-quarter results.

Robert Samuels cut his 2008 outlook to $1.68 per share from $1.70 per share in a note to investors, saying he was disappointed with the company's sales growth and decline in gross margins. He maintained his "Neutral" rating.

Analysts expect average earnings of $1.60 per share in 2008, according to Thomson Financial.

Separately, a Thomas Weisel analyst raised revenue estimates for Zumiez Inc. after the skateboard and snowboard products retailer posted better-than-expected April same-store sales.

Thomas Weisel analyst Jim Duffy raised his 2009 revenue outlook for the Everett, Wash., company to $437 million from $435 million in a note to investors late Wednesday, citing the better-than-expected figures, which measure performance at stores open at least a year.

But he pointed out that the results were skewed higher by an earlier-than-usual Easter, resulting in an additional weekend day of sales.

Analysts polled by Thomson Financial expect revenue of $441.3 million in 2009.