- Prachi Singh |
Zumiez reporting its performance in the first quarter ended May 2, 2015 said that total net sales increased 9 percent to 177.6 million dollars from 162.9 million dollars in the first quarter ended May 3, 2014. Comparable sales increased 3 percent compared to 1.8 percent in the first quarter of 2014. Net income was 2.8 million dollars, or 0.09 dollars per diluted share, compared to net income of 2.5 million dollars, or 0.09 per diluted share, in the first quarter of the prior fiscal year.
Commenting on the results, Rick Brooks, Chief Executive Officer of Zumiez said, “We delivered first quarter results that were in-line with our expectations. While the pace of our domestic business slowed more than anticipated in April, this was offset by strong sales gains in Europe where growth momentum continues.”
Total net sales for the four-week period ended May 30, 2015 increased 4.1percent to 51.5 million dollars, compared to 49.5 million dollars for the same month, last year. The company's comparable sales decreased 2.2 percent compared to a comparable sales increase of 3.6 percent, last year.
For the three months ending August 1, 2015, net sales are projected to be in the range of 179 dollars to 183 million dollars resulting in net income per diluted share of approximately 0.12 dollars to 0.15 dollars. This guidance is based on an anticipated comparable sales decrease in the 5 percent to 3 percent range for the second quarter of fiscal 2015. The company currently intends to open approximately 57 new stores in fiscal 2015, including up to 7 stores in Canada and 6 stores in Europe.