Zumiez reports 4 percent rise in Q3 comparable sales

Total net sales at Zumiez for the third quarter ended October 29, 2016 increased 8.4 percent to 221.4 million dollars from 204.3 million dollars in the quarter ended October 31, 2015. Comparable sales increased 4 percent compared to a decrease of 7.3 percent for the same period last year. Net income for the quarter increased to 10.7 million dollars or 0.43 dollar per diluted share, compared to 9.7 million dollars or 0.36 dollar in the third quarter of the prior fiscal year.

Commenting on the third quarter trading, Rick Brooks, Chief Executive Officer of Zumiez said in a release, "Our monthly comparable sales trend turned positive in September driven by a solid back-to-school selling season and continued to accelerate as the third quarter progressed. We are pleased with the increase in our top-line which included positive growth in our men's, accessories, and junior's categories. Our primary focus remains on executing our strategic multi-year growth objectives and delivering increased shareholder value over the long-term."

Nine month net sales rise 1.9 percent

Total net sales for the nine months increased 1.9 percent to 572.6 million dollars from 561.7 million dollars reported for the nine months ended October 31, 2015. Comparable sales decreased 2.5 percent compared to a decrease of 3.4 percent for the same period, last year. Net income was 7.7 million dollars or 0.31 dollar per diluted share, compared to 15.6 million dollars or 0.55 dollar last year.

Total net sales for the four-week period ended November 26, 2016 increased 10.3 percent to 69.3 million dollars, compared to 62.8 million dollars for the four-week period ended November 28, 2015. The company's comparable sales increased 5.7 percent against a decrease of 13.8 percent for the same period last year.

Issues fourth quarter outlook

The company, for the three months ending January 28, 2017 expects net sales to be in the range of 258 to 263 million dollars resulting in net income per diluted share of approximately 0.60 dollar to 0.66 dollar. This guidance is based upon an anticipated comparable sales range of 3 percent to 5 percent for the fourth quarter of fiscal 2016.

Picture:Zumiez