- Prachi Singh |
Total net sales at Zumiez, for the first quarter ended May 5, 2018 increased 13.9 percent to 206.3 million dollars from 181.2 million dollars in the first quarter ended April 29, 2017. Comparable sales for the period increased 8.3 percent compared to 1.8 percent for the thirteen weeks ended April 29, 2017. Net loss in the first quarter was 2.6 million dollars or 0.10 dollar per diluted share, compared to 4.4 million dollars or 0.18 dollar per diluted share, in the same quarter of the prior fiscal year.
“Our new fiscal year is off to a very good start,” commented Rick Brooks, Chief Executive Officer of Zumiez Inc in a statement, adding, “With comparable sales increasing 8.3 percent, we generated significant expense leverage and dramatically improved our bottom line performance year-over-year.”
May 2018 sales at Zumiez rise 12.2 percent
Total net sales for the four-week period ended June 2, 2018 increased 12.2 percent to 59.7 million dollars, while the comparable sales increased 7.5 percent compared to a comparable sales increase of 3.3 percent for the four-week period ended May 27, 2017.
For the three months ending August 4, 2018, net sales are projected to be in the range of 213 million dollars to 217 million dollars including anticipated comparable sales growth of between 3 percent and 5 percent. Consolidated operating margins are expected to be between 1.2 percent and 2 percent resulting in net income per share of approximately 0.04 dollar to 0.09 dollar. The company currently intends to open approximately 13 new stores in fiscal 2018, including up to six stores in the United States, five stores in Europe and two stores in Australia.