Q2 FY'14 sales at action sports retailer Zumiez rise 16.9%

06 Sep '13

2 min read

Zumiez Inc. a leading specialty retailer of action sports related apparel, footwear, equipment and accessories, reported results for the second quarter ended August 3, 2013.

Total net sales for the second quarter ended August 3, 2013 (13 weeks) increased 16.9% to $157.9 million from $135.1 million in the quarter ended July 28, 2012 (13 weeks). Comparable store sales for the thirteen weeks ended August 3, 2013 increased 0.9% on top of a comparable store sales increase of 9.5% for the thirteen weeks ended July 28, 2012.

Net income in the second quarter of fiscal 2013 was $4.7 million, or $0.16 per diluted share, compared to net income of $2.1 million, or $0.07 per diluted share, in the second quarter of the prior fiscal year.

The results for fiscal 2013 include costs of approximately $1.7 million, or $0.04 per diluted share, for charges associated with the acquisition of Blue Tomato, and the results for fiscal 2012 include approximately $2.4 million, or $0.06 per diluted share, of Blue Tomato acquisition related costs, and approximately $1.3 million, or $0.03 per diluted share, of costs associated with the relocation of the Company's ecommerce fulfillment center to Edwardsville, Kansas and its corporate offices to Lynnwood, Washington from Everett, Washington.

Total net sales for the six months (26 weeks) ended August 3, 2013 increased 15.6% to $306.4 million from $265.0 million reported for the six months (26 weeks) ended July 28, 2012. Comparable store sales increased 0.2% for the twenty six weeks ended August 3, 2013 on top of a comparable store sales increase of 11.1% for the twenty six weeks ended July 28, 2012.

The Company reported net income of $7.2 million or $0.24 per diluted share in the first six months of fiscal 2013 compared to net income for the first six months of the prior fiscal year of $6.6 million or $0.21 per diluted share.

Results for the first six months of fiscal 2013 include approximately $3.4 million, or $0.09 per diluted share, for charges associated with the acquisition of Blue Tomato. Results for the first six months of fiscal 2012 include approximately $2.8 million, or $0.08 per diluted share, of Blue Tomato acquisition related costs, and approximately $1.6 million, or $0.03 per diluted share, of costs associated with the relocation of the Company's ecommerce fulfillment center to Edwardsville, Kansas and corporate offices to Lynnwood, Washington from Everett, Washington.

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