Home / Knowledge / News / Retail / Zumiez sales rise 7.9% in Q4 FY19

Zumiez sales rise 7.9% in Q4 FY19

17
Mar '20
Pic: Zumiez
Pic: Zumiez
Zumiez Inc, a leading specialty retailer of apparel, footwear, accessories and hardgoods, has announced its net sales grew 5.7 per cent to $1.034 billion in fiscal 2019 ended on February 2, 2020 compared to $978.6 million prior year. Sales in fourth quarter (Q4) rose 7.9 per cent to to $328.8 million from $304.6 million in same quarter prior year.
 
"Our success in progressively increasing sales with double digit growth in profitability in recent years has been driven by the disciplined execution of our merchandising strategies, investments in people and technology, the benefits of our localised fulfillment structure, and the implementation of numerous efficiency and cost saving initiatives," Rick Brooks, chief executive officer of Zumiez, said in a press release.
 
Net income in FY19 jumped 48 per cent to $66.9 million (FY18: $45.2 million). Net income in Q4 was $37.9 million (Q4 FY18: $29.6 million). Gross profit in the year grew to $366.5 million compared to $335.9 million prior year. For the quarter, gross profit increased to $128.3 million compared to $113.9 million in same quarter prior year.
 
"With respect to Coronavirus, our focus is first and foremost on the safety of our customers and employees.  We are monitoring this fluid situation and intend to remain flexible and agile in adjusting inventory, expense and capital allocation plans accordingly," Brooks said while talking about the upcoming quarter.
 
The company for Q1 FY20 expects net sales to be in the range of $219 to $223 million including anticipated comparable sales growth of between 2-4 per cent. The company intends to open approximately 20 new stores in fiscal 2020, including up to 8 stores in North America, 8 stores in Europe and 4 stores in Australia.

Fibre2Fashion News Desk (JL)


Must ReadView All

Pic: Shutterstock

Information Technology | On 6th Apr 2020

Odd Concepts attracts funds despite Covid-19 crisis

Odd Concepts, an AI-based fashion tech company, has been able to...

Pic: Synthomer

Textiles | On 6th Apr 2020

Synthomer takes over Omnova Solutions

Synthomer has taken over Omnova Solutions. With this, Synthomer...

Pic: Shutterstock

Textiles | On 6th Apr 2020

EAP growth projected to slow to 2.1% in baseline: WB

Growth in the East Asia and Pacific region is projected to slow to...

Interviews View All

Victor Chao, Esmetex

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Top executives, Association

Top executives
Association

'Support and Outreach' huge relief for MSMEs

Md Hanifur Rahman, Aman Group

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Marcello Galvanin,

Marcello Galvanin

Galvanin has more than 50 years of experience in the production of textile ...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Tina Antoniades,

Tina Antoniades

India-headquartered Lulu & Sky is a rapidly escalating brand with the...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

Leave your Comments


March 2020

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


Advanced Search