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Zumiez Q2 net sales increase 13.9 percent

By Prachi Singh

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Management

Zumiez Inc. has reported that total net sales for the second quarter ended August 4, 2018 increased 13.9 percent to 219 million dollars, while comparable sales for the period increased 6.3 percent compared to a increase of 4.7 percent for the thirteen weeks ended July 29, 2017. Net income for the quarter was 4.4 million dollars or 0.17 dollar per diluted share, compared to a net loss of 0.6 million dollars or 0.02 dollar per diluted share in the second quarter of the prior fiscal year.

Commenting on the company’s performance, Rick Brooks, Chief Executive Officer of Zumiez said in a statement: “We delivered our strongest second quarter in several years. The broad based improvements across our business fuelled a marked improvement in profitability compared with a year ago. We are very encouraged by our recent performance, and with the second half of the year off to a solid start, we are heading into our busiest selling season with great momentum.”

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Zumiez posts H1 sales growth of 13.9 percent

Total net sales for the six months ended August 4, 2018, Zumiez said, increased 13.9 percent to 425.3 million dollars, while comparable sales increased 7.2 percent compared to 3.3 percent increase for the twenty-six weeks ended July 29, 2017. Net income for the period was 1.8 million dollars or 0.07 dollar per diluted share, compared to a net loss for the first six months of the prior fiscal year of 5.1 million dollars or 0.21 dollar per diluted share.

Total net sales for the four-week period ended September 1, 2018 increased 9 percent to 107.4 million dollars and the company's comparable sales increased 9.5 percent compared to 7.4 percent for the four-week period ended August 26, 2017.

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For the third quarter, the company expects net sales to be in the range of 247 to 252 million dollars including anticipated comparable sales growth of between 4 percent and 6 percent. Consolidated operating margins are expected to between 6.5 percent and 7 percent resulting in net income per diluted share of approximately 0.45 dollar to 0.51 dollar. The company currently intends to open approximately 13 new stores in fiscal 2018, including up to five stores in the United States, seven in Europe and one store in Australia.

Picture:Zumiez website

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