Zumiez net sales and profit increase in Q3

Zumiez Inc. total net sales for the third quarter ended November 3, 2018 increased 1.2 percent to 248.8 million dollars, while comparable sales increased 4.8 percent compared to a comparable sales increase of 7.9 percent for the thirteen weeks ended October 28, 2017. Net income for the quarter was 13.8 million dollars or 55 cents per diluted share compared to 11.9 million dollars or 48 cents per diluted share in the third quarter of the prior fiscal year.

Commenting on the third quarter performance, Rick Brooks, Chief Executive Officer of Zumiez said in a media release: “The third quarter represented our ninth quarter of positive comparable sales and consisted of meaningful full priced selling throughout the period. With 140 basis points of improvement between product margins and inventory shrink, we were able to offset the loss of a high volume week due to the calendar shift and deliver earnings per share ahead of our expectations.”

Zumiez posts 8.9 percent rise in nine-month sales

Total net sales for the nine months ended November 3, 2018 increased 8.9 percent to 674.1 million dollars, while comparable sales increased 6.3 percent for the period against comparable sales increase of 5.1 percent for the thirty-nine weeks ended October 28, 2017. Net income was 15.6 million dollars or 62 cents per diluted share, compared to 6.9 million dollars or 28 cents per diluted share.

Total net sales for the four-week period ended December 1, 2018 increased 9.4 percent to 84.4 million dollars and comparable sales increased 2.3 percent compared to a comparable sales increase of 7.8 percent for the four-week period ended November 25, 2017.

For the fourth quarter the company expects, net sales to be in the range of 295 to 301 million dollars resulting in net income per diluted share of approximately 1.02 dollars to 1.08 dollars. This guidance is based upon anticipated comparable sales growth between 0 and 2 percent for the fourth quarter of fiscal 2018. The company has opened 12 new stores this year through December 1, 2018 including five stores in North America and seven stores in Europe and plans to open one more store in 2018.

Picture:Zimuez website