Sponsors
Billabong ▲ +0.005 | PPR ▲ +0.80 | American Apparel ▲ +0.07 | The Buckle ▼ -0.99 | Columbia ▼ -0.38 | Deckers Outdoor ▼ -1.94 | Dicks ▼ -0.92 | Foot Locker ▼ -4.02 | Genesco ▼ -3.05 | Iconix Brand Group ▼ -2.52 | Jarden Corp ▼ -0.17 | Nordstrom ▼ -0.42 | Luxottica ▲ +0.45 | Nike ▼ -2.24 | Pacific Sunwear ▼ -0.05 | Skullcandy ▼ -0.04 | Sport Chalet - 0 | Urban Outfitters ▼ -0.15 | VF Corp ▼ -1.17 | Quiksilver ▲ +0.46 | Zumiez ▼ -0.62 | Macys ▼ -1.48 | Tillys ▲ +0.15 |
Ticker Sponsor
Readers Say
It pertains to my business
It pertains to my business

I’m an avid reader of Shop-Eat-Surf because it’s really the only online newsletter that I have found that is not only industry related, but also because it’s not so “guy-centric.” I find that a lot of the information I read on the site pertains to my business (as a swimwear designer) and keeps me up to date on what other companies and other women in the industry in general are doing which is not only inspiring but also helps me gauge the future direction of my business as well.

I feel privileged to read the Executive Edition because I know I am getting insider industry information before it hits the mainstream media channels. And it’s always good to know what my friends are up to in the industry.

- By Monica Wise, Founder, L*Space
Keeps me in the loop
Keeps me in the loop

Being an Executive Edition member allows me to not miss a beat when it comes to the Industry business news. Definitely keeps me in the loop plus goes great with my morning joe.

- By Tony Perez, Surfer and Surfing magazines
Industry Insight

AGENDA: GroupY's Emerge brand-building conference returns on Jan. 6.
SURFRIDER: "Protect What You Love" holiday appeal.
MOSS ADAMS: Plan now for tax season.
Details on Industry Insight.


Tiffany Montgomery
Print This Article

Zumiez reports Q4 2010 results

By Press Releases
March 10, 2011 1:16 PM

Press Release:

 

EVERETT, WA--(Marketwire - 03/10/11) - Zumiez Inc. (NASDAQ:ZUMZ - News) a leading specialty retailer of action sports related apparel, footwear, equipment and accessories, today reported results for the fourth quarter and fiscal year ended January 29, 2011.

 

Total net sales for the fourth quarter ended January 29, 2011 (13 weeks) increased 17.9% to $156.2 million from $132.4 million in the quarter ended January 30, 2010 (13 weeks).

 

The Company posted net income for the quarter of $15.0 million, or $0.49 per diluted share. In the prior year period, Zumiez reported net income of $8.8 million, or $0.29 per diluted share, which included a non-cash charge of $1.8 million, or $0.04 per diluted share, associated with the impairment of store related assets. Comparable store sales increased 13.0% in the fourth quarter of fiscal 2010, compared to a 1.7% decrease in the fourth quarter of fiscal 2009.

 

Total net sales for fiscal 2010 (52 weeks) increased 17.5% to $478.8 million from $407.6 million in fiscal 2009 (52 weeks).

 

The Company posted net income of $24.2 million, or $0.79 per diluted share, including costs of $2.4 million, or $0.05 per diluted share, associated with the relocation of the Company's distribution center to Corona, CA from Everett, WA, and $2.1 million, or $0.04 per diluted share, for the settlement of a previously disclosed lawsuit.

 

In the prior year, net income was $9.1 million, or $0.30 per diluted share, including a non-cash charge of $2.5 million, or $0.05 per diluted share, associated with the impairment of store related assets, and a charge of $1.4 million, or $0.03 per diluted share, associated with the settlement of a previously disclosed lawsuit. Comparable store sales increased 11.9% in fiscal 2010, compared to a decrease of 10.0% in fiscal 2009.

 

As of January 29, 2011, the Company had cash and current marketable securities of $128.8 million, compared to cash and current marketable securities of $108.1 million as of January 30, 2010.

 

"We are very pleased with the strength of our fiscal and fourth quarter 2010 sales, up over 17%, and the significant increase in earnings for both the year and the quarter," commented Rick Brooks, Chief Executive Officer of Zumiez.

 

"Our record fourth quarter earnings reflect great execution by our team and underscores the uniqueness of our concept. We believe the actions we are taking by focusing on a wide selection of brands and strong customer service, combined with the people and infrastructure investments have us well positioned to carry this momentum forward and pursue our growth initiatives."

 

On page 2: 2011 outlook

 

 

 

 

Previous 1 2 Next

More on: Zumiez

Articles You Might Have Missed