Home / Knowledge / News / Apparel/Garments / Zumiez Q2 sales up 14.9% to $112.2 mn
Zumiez Q2 sales up 14.9% to $112.2 mn
05
Sep '11
Zumiez Inc, a leading specialty retailer of action sports related apparel, footwear, equipment and accessories, reported results for the second quarter ended July 30, 2011.

Total net sales for the second quarter (13 weeks) ended July 30, 2011 increased 14.9% to $112.2 million from $97.7 million reported in the second quarter ended July 31, 2010 (13 weeks). Comparable store sales for the second quarter of fiscal 2011 increased 7.5% on top of an increase of 9.3% for the second quarter of fiscal 2010. The Company posted net income for the quarter of $2.6 million or $0.08 per diluted share compared to a net loss of $1.2 million or $0.04 per diluted share. The results for the second quarter 2010 include costs of $1.0 million, or approximately $0.02 per diluted share, associated with the relocation of the Company's distribution center from Everett, Washington to Corona, California, and $2.1 million, or approximately $0.04 per diluted share, for the settlement of a previously disclosed lawsuit.

Total net sales for the six months (26 weeks) ended July 30, 2011 increased 16.7% to $218.1 million from $186.8 million reported for the six months (26 weeks) ended July 31, 2010. The Company reported net income of $4.5 million or $0.14 per diluted share in the first six months of fiscal 2011 compared to a net loss in the first six months of the prior fiscal year of $3.1 million or $0.10 per diluted share. Results for the first six months of fiscal 2010 include costs of $2.2 million, or approximately $0.05 per diluted share, associated with the relocation of the Company's distribution center, and $2.1 million, or approximately $0.04 per diluted share, for the settlement of a previously disclosed lawsuit. Comparable store sales increased 9.9% in the first six months of fiscal 2011 on top of 9.2% for the first six months of 2010.

At July 30, 2011, the Company had cash and current marketable securities of $131.9 million compared to cash and current marketable securities of $91.3 million at July 31, 2010.

Rick Brooks, Chief Executive Officer of Zumiez Inc., stated, "We are pleased with the sales and earnings growth we delivered for the quarter. Our merchandise and expansion strategies are driving improvements across our business and are continuing to strengthen Zumiez's position as the leading action sports retailer. We remain optimistic that our diverse product offering, compelling mix of brands, and commitment to customer service will distinguish our concept further from the promotional competition and provide us with strategic advantages during the key upcoming selling seasons."

August 2011 Sales
Total net sales for the four-week period ended August 27, 2011 increased 10.9% to $65.9 million, compared to $59.4 million for the four-week period ended August 28, 2010. The Company's comparable store sales increased 4.3% for the four-week period on top of a comparable store sales increase of 9.1% in the year ago period.


Must ReadView All

Textiles | On 20th Jul 2017

Provide safety net for cotton growers: Congress to Trump

A bipartisan Congressional coalition has called attention of...

Courtesy: ITMF

Textiles | On 20th Jul 2017

ITMF'17 themed on tech, trade, climate in disruptive times

The International Textile Manufacturers Federation (ITMF), an...

Textiles | On 20th Jul 2017

RIL’s Q1 FY18 petrochemicals revenue up 22.9% y-o-y

Reliance Industries Limited (RIL) has reported its financial...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X