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Zumiez Inc reports 3Q fiscal results

16 Nov '06

3 min read

Zumiez Inc reported results for the third quarter ended October 28, 2006.

Total net sales for the third quarter (13 weeks) ended October 28, 2006 increased by 43 percent to $82.3 million from $57.4 million reported in the third quarter (13 weeks) of the prior fiscal year.

The company posted net income for the quarter of $6.8 million or $0.24 per diluted share versus $5.3 million or $0.18 per diluted share in the third quarter of the prior fiscal year. Comparable store sales were 10.7 percent for the third quarter of fiscal 2006 compared to 9.8 percent in the third quarter of fiscal 2005.

Total net sales for the first nine months (39 week period) of fiscal 2006 increased by 43 percent to $185.8 million from $130.2 million reported in the first nine months of the prior year.

The company posted net income of $9.6 million or $0.33 per diluted share in the first nine months of 2006 versus $6.1 million or $0.23 per diluted share in the prior year.

Comparable store sales increased 13.6 percent for the first nine months of fiscal 2006 compared to 10.8 percent for the first nine months of fiscal 2005.

Rick Brooks, President and Chief Executive Officer of Zumiez Inc, stated, "We are pleased with our third quarter results and the earnings growth driven by our team year to date. During the quarter, Zumiez opened 12 stores and remains on track to open 42 new stores in fiscal 2006, in addition to the 19 Fast Forward stores acquired in the second quarter."

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