Zumiez Q3 FY20 sales up 2.6% to $271 mn

25 Dec '20

2 min read

Pic: Shutterstock

Zumiez, a specialty retailer of apparel, footwear and accessories, has reported 2.6 per cent increase in its total sales to $271.0 million during third quarter (Q3) fiscal 2020 ended on October 31, compared to sales of $264.0 million in the same period last year. Company’s net income for the quarter rose to $29.1 million (Q3 FY19: $19.1 million).

“We once again successfully navigated volatile market conditions and drove strong earnings growth. Following a challenging start to the third quarter due to the delayed start to back to school, sales were positive in both September and October as we capitalized on late season demand,” Rick Brooks, chief executive officer of Zumiez, said in a press release.

Gross profit for the quarter was $105.8 million ($94.5 million). Selling, general and administrative expenses were down to $67.9 million ($70.2 million). Operating profit for Q3 FY20 increased to $37.8 million ($24.3 million).

Due to store closures, company stated that stores were open for approximately 95 per cent of the Q3 FY20 measured as the total number of store days open in the quarter divided by the total number of store days available.

“While there is still uncertainty around how the remainder of the holiday season will unfold, we believe we are positioned well to meet the customer’s expectations and drive value for the long-term,” Brooks said.

Fibre2Fashion News Desk (JL)

More Zumiez Inc News... More Retail News - United States Of America...