Zumiez's Q4 sales gain 42.3% due to excellent team work
16 Mar '06
3 min read
Brooks continued, "While they plan for low to mid single digit comp store sales, their 2005 actual comparable store sales increase of 14.2 percent shows that they have the ability to drive sales beyond their plan with their flexible merchandising strategy.
They were pleased to open 35 new stores in 2005 and feel very good about their expansion plans for 2006 and beyond."
For fiscal 2006, the company plans to open 42 new stores in a measured pace throughout the year.
Brooks concluded, "Zumiez has succeeded as a highly differentiated retail concept by bringing the feel of an independent action sports shop to the mall.
Their strong culture, sales driven approach, unique training programs and passionate and committed people position them for continued long-term success.
They look forward to expanding the reach of Zumiez to new markets in 2006."
The company stated that it is introducing guidance for fiscal 2006 of $1.22, which includes the initial estimates of the impact of FAS123R, in diluted earnings per share, and that weighted average diluted shares for the year are expected to be approximately 14,650,000 shares at year end.
The company also stated that it believes that its projected earnings growth rate of 30 percent continues to be achievable for fiscal 2006 and beyond.
In putting forth this outlook, the company reminds investors of the complexity of accurately assessing future growth giventhe difficulty in predicting fashion trends and consumer preferences, boardsports popularity and participation rates, general economic conditions and the impact of other business variables and risks.
Zumiez is a leading specialty retailer of action sports related apparel, footwear, equipment and accessories.
Their stores cater to young men and women between ages 12-24, focusing on skateboarding, surfing, snowboarding, motocross and BMX.
As of March 15, 2006 they operate 176 stores, which are primarily located in shopping malls.
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