Zumiez reports increase in comparable sales and profit

Total net sales for the fourth quarter at Zumiez increased 0.8 percent to 331.5 million dollars, while comparable sales increased 4.7 percent compared to a comparable sales increase of 6.4 percent for the same quarter last year. Net income was 42.8 million dollars or 1.68 dollars per diluted share compared to 37.9 million dollars or 1.48 dollars per diluted share in the fourth quarter of the prior fiscal year. Total net sales for fiscal 2020 decreased 4.2 percent to 990.7 million dollars, while comparable sales increased 13.6 percent. Net income in fiscal 2020 increased 14 percent to 76.2 million dollars or 3 dollars per diluted share.

“Our one channel approach to retail and relentless focus on serving the consumer allowed to us to achieve annual sales close to fiscal 2019 levels and record profitability despite our stores around the world being closed for approximately 22 percent of the possible operating days,” said Rick Brooks, Chief Executive Officer of Zumiez Inc.

The company said, total first quarter-to-date sales for the 35 days ended March 6, 2021 were down approximately 3.8 percent, while comparable sales for the period decreased 0.4 percent. By channel, open store comparable sales decreased 6.9 percent and e-commerce sales increased 29.5 percent. The company expects that the store closures and various other operating restrictions will fluctuate as it moves through the quarter.