Zumiez posts rise in Q3 sales and profit

For the third quarter, Zumiez Inc. reported total net sales increase of 2.6 percent to 271 million dollars. The company said in a statement, for the stores that were open during the quarter, comparable sales increased 8.1 percent compared to the same period a year ago. Net income was 29.1 million dollars or 1.16 dollars per diluted share compared to 19.2 million dollars or 75 cents per diluted share in the third quarter of the prior fiscal year.

Commenting on the third quarter trading, Rick Brooks, Chief Executive Officer of Zumiez, stated: “Following a challenging start to the third quarter due to the delayed start to back to school, sales were positive in both September and October as we capitalized on late season demand.”

Total net sales for the nine months decreased 6.6 percent to 659.1 million dollars, while net income for the period increased 15.3 percent to 33.4 million dollars or 1.32 dollars per diluted share, compared to 29 million dollars or 1.14 dollars per diluted share in the prior year.

The company added that total fourth quarter-to-date sales for the 31 days ended December 1, 2020 were down approximately 3.9 percent, while comparable sales were down 1.7 percent. By channel, open store comparable sales decreased 7.8 percent and e-commerce sales increased 16.7 percent.

Picture:Facebook/Zumiez