Zumiez Q2 net sales rise 7.8 percent

Total net sales for the second quarter ended July 29, 2017 at Zumiez increased 7.8 percent to 192.2 million dollars from 178.3 million dollars in the quarter ended July 30, 2016. Comparable sales for the period increased 4.7 percent compared to a 4.9 percent decrease for the thirteen weeks ended July 30, 2016. Net loss for the quarter was 0.6 million dollars or 0.02 dollar per diluted share compared to 0.8 million dollars or 0.03 dollar per diluted share in the second quarter of the prior fiscal year.

Commenting on the second quarter trading, Rick Brooks, Chief Executive Officer of Zumiez said in a press release, "Our business outperformed our expectations during the second quarter highlighted by a 4.7percent comparable sales increase. We will continue to invest in our people and omni-channel capabilities while tightly controlling expenses as we look to consistently drive profitable growth and increased shareholder value over the long-term.”

H1 and August sales also witness an increase

Total net sales for the six months period increased 6.3 percent to 373.4 million dollars from 351.2 million dollars reported for the same period last year. Comparable sales increased 3.3 percent compared to a decrease of 6.2 percent for the twenty-six weeks ended July 30, 2016. Net loss for the period was 5.1 million dollars or 0.21 dollar per diluted share, compared to 3 million dollars or 0.12 dollar per diluted share last year.

Total net sales for the four-week period ended August 26, 2017 increased 10.1 percent to 98.6 million dollars, while the company's comparable sales increased 7.4 percent for the period compared to a comparable sales decrease of 1.1 percent for the same month last year.

Zumiez expects Q3 comparable sales to grow between 4 to 6 percent



For the third quarter, the company’s net sales are projected to be in the range of 236 to 241 million dollars resulting in net income per diluted share of approximately 0.43 dollar to 0.48 dollar. This guidance is based upon anticipated comparable sales growth between 4 percent and 6 percent for the third quarter of fiscal 2017.

The company currently intends to open approximately 18 new stores in fiscal 2017, including up to three stores in Canada and four stores in Europe and two stores in Australia.

Picture:Zumiez website