Shares of Costa Mesa-based clothing designer Volcom Inc. fell nearly 20% in afterhours trading after the company warned about results for the current quarter.
The company, which makes clothes inspired by surfing, other sports and music, said it expects sales of $70 million to $73 million for the fourth quarter, below Wall Street’s expected $82.3 million.
Volcom sees earnings of $7.3 million to $7.8 million, well below the $11.4 million analysts had been expecting.
For the third quarter, Volcom reported sales of $91 million, up 49% from a year earlier. Profits came in at $14.5 million, up 43%.
Both figures beat Wall Street estimates.
For the fourth quarter, Volcom cited caution by retailers amid the slowing economy and slowing sales of jackets and sandals.
