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Zumiez raises guidance for fiscal 2006 to $0.67 in EPS

17 Aug '06

3 min read

Zumiez Inc reported results for the second quarter ended July 29, 2006.

Total net sales for the second quarter (13 weeks) ended July 29, 2006 increased by 41.5 percent to $55.8 million from $39.4 million reported in the second quarter (13 weeks) of the prior fiscal year.

The company posted net income for the quarter of $1.6 million or $0.06 per diluted share versus $848,000 or $0.03 per diluted share in the second quarter of the prior fiscal year.

Comparable store sales increased 12.6 percent for the second quarter of fiscal 2006 compared to 11.3 percent in the second quarter of fiscal 2005.

Total net sales for the first six months (26 week period) of fiscal 2006 increased by 42.3 percent to $103.5 million from $72.8 million reported in the first six months of the prior year.

The company posted net income of $2.8 million or $0.10 per diluted share in the first six months of 2006 versus $808,000 or $0.03 per diluted share in the prior year.

Comparable store sales increased 15.8 percent for the first six months of fiscal 2006 compared to 11.6 percent for the first six months of fiscal 2005.

Rick Brooks, President and Chief Executive Officer of Zumiez Inc, stated, "We are pleased with our second quarter results, particularly our ability to generate same store sales gains in excess of 12 percent and a doubling of earnings per share."

"While the junior's category has been relatively challenging, we anticipated that the business would slow due to lack of a clear fashion direction and have planned and are planning our inventory accordingly."

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