Zumiez registers record sales in 2007

14 Mar '08

3 min read

Zumiez Inc reported results for the fourth quarter ended February 2, 2008.

Total net sales for the fourth quarter (13 weeks) ended February 2, 2008 increased by 12.7% to $126.6 million from $112.4 million reported in the fourth quarter ended February 3, 2007 (14 weeks).

The company posted net income for the quarter of $12.4 million or $0.42 per diluted share versus $11.3 million or $0.39 per diluted share in the fourth quarter of the prior fiscal year. Comparable store sales increased 4.0% for the fourth quarter of fiscal 2007 compared to a 12.0% increase in the fourth quarter of fiscal 2006.

Total net sales for fiscal 2007 (52 week period) increased by 27.9% to $381.4 million from $298.2 million reported in fiscal 2006 (53 week period). The company posted net income of $25.3 million or $0.86 per diluted share in fiscal 2007 versus $20.9 million or $0.73 per diluted share in the prior year. Comparable store sales increased 9.2% in fiscal 2007 compared to 13.0% in fiscal 2006.

Rick Brooks, President and Chief Executive Officer of Zumiez Inc., stated, "While we experienced some softness in sales late in the year, Zumiez still posted record sales and earnings results for both fiscal 2007 and the fourth quarter, and we opened 50 new stores bringing our total store count to 285 at the end of the year.

Although there may be some near-term challenges in fiscal 2008, we remain upbeat regarding the long term prospects for Zumiez. We believe we are making the right investments and decisions to prudently manage through 2008, while keeping long-term profitable growth as our highest priority."

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