Zumiez Q4 net sales up 8.7 percent, profits jump 38 percent

Total net sales at Zumiez for the fourth quarter increased 8.7 percent to 263.6 million dollars from 242.4 million dollars in the same quarter ended January 30, 2016. Comparable sales increased 5.1 percent compared to a 9.5percent decrease last year’s fourth quarter. Net income increased 38.3 percent to 18.2 million dollars or 0.74 dollar per diluted share, from 13.1 million dollars or 0.50 dollar per diluted share, in the fourth quarter of fiscal 2015.

"Our fourth quarter earnings performance exceeded expectations driven by efficiencies realized as we continued to execute on our omni-channel and localization efforts combined with a more favorable tax rate. Looking ahead, our primary focus remains on executing the strategic multi-year growth objectives that we believe will deliver increased profitability and greater shareholder value over the long-term," said Rick Brooks, Chief Executive Officer of Zumiez in a media statement.

FY16 net sales rise 4 percent

Total net sales for fiscal 2016 increased 4 percent to 836.3 million dollars from 804.2 million dollars in fiscal 2015, while comparable sales decreased 0.2 percent compared to a 5.3 percent last year.

Net income in fiscal 2016 decreased 10 percent to 25.9 million dollars or 1.04 dollars per diluted share compared to net income in the prior fiscal year of 28.8 million dollars or 1.04 dollars per diluted share. Results for the fiscal year 2015 include approximately 1.5 million dollars or 0.04 dollars per diluted share, for charges associated with the acquisition of Blue Tomato and 1.2 million dollars or about 0.03 dollar for exit costs associated with the shutdown of the company's fulfilment facility in Edwardsville, Kansas.

Sales in February down, FY17 net loss to be between 0.17 to 0.21 dollar per share

Total net sales for the four-week period ended February 25, 2017 decreased 0.8 percent to 51.5 million dollars and the comparable sales decreased 3.1 percent compared with a comparable sales decrease of 8.6 percent for the four-week period ended February 27, 2016.

The company’s net sales are projected to be in the range of 178 million dollars to 182 million dollars resulting in a net loss per share of approximately 0.17 dollar to 0.21 dollar. This guidance is based upon anticipated comparable sales growth of between 0 percent and positive 2 percent for the first quarter of fiscal 2017 compared to the prior year. The company currently intends to open approximately 18 new stores in fiscal 2017, including around three stores in Canada, four stores in Europe and two in Australia.

Picture:Zumiez Website