- Prachi Singh |
REPORT_ For the third quarter ended November 1, 2014, total net sales at Zumiez increased 11.6 percent to 213.3 million dollars from 191.1 million dollars in the quarter ended November 2, 2013. Comparable sales for the thirteen weeks ended November 1, 2014 increased 3.7 percent on top of a comparable sales increase of 1.5 percent for the thirteen weeks, last year.
Net income in the third quarter of fiscal 2014 increased 32.6 percent to 15.7 million dollars, or 0.54 dollars per diluted share, compared to net income of 11.9 million dollars, or 0.39 dollars per diluted share, in the third quarter of the prior fiscal year.
Total net sales for the nine months ended November 1, 2014 increased 11.2 percent to 553 million dollars from 497.5 million dollars reported for the nine months ended November 2, 2013. Comparable sales increased 3 percent for the 39-weeks ended November 1, 2014 on top of a comparable sales increase of 0.7 percent for the 39-weeks ended November 2, 2013. Net income in the first nine months of fiscal 2014 increased 34.5 percent to 25.7 million dollars, or 0.88 dollars per diluted share, compared to net income for the first nine months of the prior fiscal year of 19.1 million dollars, or 0.63 dollars per diluted share.
Rick Brooks, Chief Executive Officer of Zumiez, stated, “We delivered double digit earnings growth in the third quarter driven by higher than expected sales along with lower than planned operating expenses. The merchandising, selling and marketing strategies we've implemented across our global platform are resonating with consumers and strengthening our brand position as a leading lifestyle retailer. We are optimistic about our growth prospects this holiday season and more importantly over the long-term.”
Total net sales for the four-week period ended November 29, 2014 increased 12.6 percent to 70.3 million dollars, compared to 62.4 million dollars for the four-week period ended November 30, 2013. The company's comparable sales increased 6.3 percent for the four-week period ended November 29, 2014 on top of a comparable sales increase of 1.7 percent for the four-week period ended November 30, 2013.
For the three months ending January 31, 2015, net sales are projected to be in the range 249 dollars to 251 million dollars resulting in net income per diluted share of approximately 0.69 dollars to 0.72 dollars. This guidance is based on an anticipated comparable sales increase in the 3 percent to 4 percent range for the fourth quarter of fiscal 2014. The company currently intends to open 56 new stores in fiscal 2014, including 7 stores in Canada and 6 stores in Europe.