Home / Knowledge / News / Apparel/Garments / Sports apparel retailer Zumiez sales surge 20.4% in FY'13
Sports apparel retailer Zumiez sales surge 20.4% in FY'13
15
Mar '13
Zumiez Inc. a leading multi-channel specialty retailer of action sports related apparel, footwear, hardgoods and accessories, reported record results for the fourth quarter and fiscal year ended February 2, 2013.

Fourth Quarter Results

Total net sales for the fourth quarter ended February 2, 2013 (14 weeks) increased 22.1% to $224.4 million from $183.9 million in the quarter ended January 28, 2012 (13 weeks). Comparable store sales for the 14-week period ended February 2, 2013 decreased 1.0% compared to the same 14-week period ended February 4, 2012.

Net income in the fourth quarter of fiscal 2012 increased 22.1% to $22.9 million, or $0.74 per diluted share from net income of $18.7 million, or $0.60 per diluted share in the fourth quarter of the prior fiscal year.

The results for fiscal 2012 include $0.9 million, or approximately $0.02 per diluted share, of intangible amortization and inventory step-up costs associated with the acquisition of Blue Tomato, and a net benefit of $0.4 million, or approximately $0.01 per diluted share, of contingent earn-out associated with the Blue Tomato transaction.

Full Year Results

Total net sales for fiscal 2012 (53 weeks) increased 20.4% to $669.4 million from $555.9 million in fiscal 2011 (52 weeks). Comparable store sales for the 53-week period ended February 2, 2013 increased 5.0% compared to the same 53-week period ended February 4, 2012.

Net income in fiscal 2012 increased 12.9% to $42.2 million, or $1.35 per diluted share compared to net income in the prior fiscal year of $37.4 million, or $1.20 per diluted share. Results for fiscal 2012 include approximately $7.3 million, or $0.19 per diluted share, of Blue Tomato acquisition related costs and operations, and approximately $2.1 million, or $0.04 per diluted share, of costs associated with the relocation the Company's ecommerce fulfillment center to Edwardsville, Kansas and corporate offices to Lynnwood, Washington from Everett, Washington.

Fiscal 2013 First Quarter Outlook

The Company is introducing guidance for the three months ending May 4, 2013. Net sales are projected to be in the range of $141 to $144 million resulting in net income per diluted share of approximately $0.04 to $0.07, which includes an estimated $1.6 million, or approximately $0.04 per diluted share, for charges associated with the acquisition of Blue Tomato. This guidance is based on an anticipated comparable store sales decrease in the mid single digit range for the first quarter of fiscal 2013.

The Company currently intends to open approximately 60 new stores in fiscal 2013, including up to 10 stores in Canada and 6 stores in Europe.

About Zumiez Inc.

Zumiez is a leading multi-channel specialty retailer of action sports related apparel, footwear, equipment and accessories, focusing on skateboarding, snowboarding, surfing, motocross and BMX for young men and women. As of March 2, 2013 we operated 501 stores, 472 in the United States, 21 in Canada, and 8 in Europe. We operate under the name Zumiez and Blue Tomato.

Zumiez Inc

Must ReadView All

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Textiles | On 20th Jan 2017

Xeros to focus on textile sector to develop technology

Xeros technology group plc, the developer and provider of patented...

Apparel/Garments | On 20th Jan 2017

Nine West acquiring womenswear marketer Kasper Group

US based footwear, accessories and denim company Nine West Holdings...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Mike Hoffman
Gildan Activewear SRL

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

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search