Home / Knowledge / News / Apparel/Garments / Q2FY15 diluted EPS leaps 62.5% at garment retailer Zumiez
Q2FY15 diluted EPS leaps 62.5% at garment retailer Zumiez
08
Sep '14
Led by a surge in net income, diluted EPS skyrocketed 62.5% year-on-year at Zumiez Inc, a retailer of action sports related apparel, footwear and accessories for the second fiscal quarter ended August 2, 2014.

Net income in the second quarter of 2014 increased 57.3% to $7.5 million, or $0.26 per diluted share, compared to net income of $4.7 million, or $0.16 per diluted share, in the second quarter of the prior fiscal year.

Zumiez said results for fiscal 2014 include costs of around $0.6 million, or $0.01 per diluted share, for charges associated with the acquisition of Blue Tomato while those for fiscal 2013 include around $1.7 million, or $0.04 per diluted share of Blue Tomato acquisition related costs.

Net sales for the 13 weeks period ended August 2, 2014 also rose 11.9% to $176.7 million from $157.9 million in the thirteen weeks ended August 3, 2013, while comparable sales for second quarter of 2014 increased 3.4% year-on-year.

As of August 2, 2014, the retailer had cash and current marketable securities of $113.4 million, up from $95.0 million on August 3, 2013. The retailer said the hike is a result of cash generated through operations, partially offset by capital expenditures and stock repurchases.

Meanwhile, Zumiez reported a 9.4% rise in net sales for the four-week period ended August 30, 2014 at $94.0 million, up from $85.9 million for the four-week period ended August 31, 2013, while comparable sales went up 2.0% from the same period of 2013.

Rick Brooks, CEO at Zumiez said, "We are pleased with our second quarter performance. Our ability to connect consumers with our unique assortment of brands, drove higher than expected sales which allowed us to better leverage our expense.

“Our organization continues to get smarter and more efficient at executing our global omni-channel strategy and we believe there is still runway for added improvement in the years ahead", he added.

Zumiez is a multi-channel specialty retailer operating 592 stores, including 543 in the United States, 34 in Canada, and 15 in Europe and operates under the name Zumiez and Blue Tomato.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Paolo Ocleppo
Sandvik Hyperion

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


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