Zumiez posts 14 consecutive quarters of comparable sales gain

Zumiez Inc. total net sales for the fourth quarter increased 7.9 percent to 328.8 million dollars and comparable sales increased 6.4 percent compared to a comparable sales increase of 3.9 percent for the thirteen weeks ended February 2, 2019. Net income for the fourth quarter, Zumiez said in a statement, was 37.9 million dollars or 1.48 dollars per diluted share, compared to 29.6 million dollars or 1.18 dollars per diluted share in the fourth quarter of the prior fiscal year.

Commenting on the results, Rick Brooks, Chief Executive Officer of Zumiez Inc., stated: “We have generated 14 consecutive quarters of positive comparable sales gains. While the first quarter is off to a good start, these are challenging times with a high degree of uncertainty driven by the pandemic. However, with over 250 million dollars in cash and short term investments and no debt on our balance sheet, we are well positioned to navigate this environment.”

Zumiez posts 5.7 percent increase in full year sales

Total net sales for fiscal 2019 increased 5.7 percent to 1.034 billion dollars from 978.6 million dollars in fiscal 2018, while comparable sales for the period increased 4.9 percent compared the same fifty-two week period ended February 2, 2019. Net income increased 48 percent to 66.9 million dollars or 2.62 dollars per diluted share, compared to 45.2 or 1.79 dollars per diluted share.

The company’s comparable sales increased 5.8 for the four-week period ended February 29, 2020 compared to a comparable sales decrease of 3.8 percent for the same period ended March 2, 2019. For the three months ending May 2, 2020, the company said, net sales are projected to be in the range of 219 to 223 million dollars including anticipated comparable sales growth of between 2 percent and 4 percent. Consolidated operating margins are expected to between 0.4 percent and 1.3 percent resulting in net income per diluted share of approximately 1 cent to 7 cents.

The company currently intends to open approximately 20 new stores in fiscal 2020, including up to eight stores in North America, eight stores in Europe and four in Australia.

Picture:Facebook/Zumiez