- Prachi Singh |
Zumiez Inc. has announced that total net sales for the fourth quarter ended February 2, 2019 decreased 1.2 percent to 304.6 million dollars , while comparable sales increased 3.9 percent. Net income for the quarter increased 48.5 percent to 29.6 million dollars or 1.18 dollars per diluted share, compared to 19.9 million dollars or 80 cents per diluted share in the fourth quarter of 2017.
“For the third consecutive year we delivered strong comparable sales and operating income growth in the key holiday quarter,” said Rick Brooks, Chief Executive Officer of Zumiez in a statement, adding, “We start fiscal 2019 with a strong balance sheet that provides us with financial flexibility to explore multiple opportunities for creating increased shareholder value.”
FY18 sales increase 5.5 percent at Zumiez
Total net sales for fiscal 2018 increased 5.5 percent to 978.6 million dollars, while comparable sales increased 5.6 percent. Zumiez said, net income in fiscal 2018 increased 68.7 percent to 45.2 million dollars or 1.79 dollars per diluted share compared to 26.8 million dollars or 1.08 dollars per diluted share.
Total net sales for the four-week period ended March 2, 2019, the company added, decreased 3.1 percent and comparable sales decreased 3.8 percent compared to 9.2 percent increase for the four-week period ended March 3, 2018.
For the three months ending May 4, 2019, Zumiez said, net sales are projected to be in the range of 202 million dollars to 206 million dollars including anticipated comparable sales growth of between negative 2 percent and flat to prior year. Consolidated operating margins are expected to be between negative 2 percent and negative 1 percent resulting in a net loss between 13 cents and 7 cents per share. The company currently intends to open approximately 14 new stores in fiscal 2019, including up to five stores in North America, seven in Europe and two stores in Australia.