According to a statement released today by Zumiez Investor Relations, the specialty retailer’s total net sales for the five-week period ending July 4, 2009, were down 7.9 percent to $32 million, and comparable store sales were also down by 19.3 percent.
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Zumiez, Inc. announced it has entered into a new $25 million secured credit agreement with Wells Fargo HSBC Trade Bank. The agreement basically extends a similar agreement with the company that was set to expire on August 30, 2009.
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Zumiez, Inc. (ZUMZ) reported today that it’s Net sales for May dropped 9.6% to $23.5 million compared to the same four week period in 2008. Comparable store sales dropped a whopping 20.7%.
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New Era and Zumiez Team Up for Another Zumiez Couch Tour. Check it out!
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Zumiez released results for it’s 2009 first quarter today, and announced that total net sales have decreased 2.4% to $76.8 million from $78.7 million reported in the first quarter ended May 3, 2008 (13 weeks).
“‘While the ongoing recession continues to pressure sales we were able to deliver first quarter results that exceeded our projections driven primarily by stronger than expected product margins,’ stated Rick Brooks, Chief Executive Officer of Zumiez Inc. ‘Our team continues to do an excellent job managing our expenditures and inventories while at the same time working closely with our vendors to ensure that our merchandise assortments reflect current trends and provide compelling value for our target consumer. This has allowed us to head into the summer selling season with inventory levels in line with our expectations. Given the relative tough comparisons we are up against through August we remain cautious about our near-term prospects, however we believe that our unique concept and strong balance sheet have us well positioned to further expand our market share as the consumer environment improves.’”
Zumiez also introduced guidance for the next three months ending August 1, 2009, as a net loss of approximately ($0.17) to ($0.14) per diluted share, according to the report. The retailer also plans to open 36 new stores in 2009.
Read the entire report HERE. Stay tuned to Transworld Business for a more in-depth follow up and summary of the company’s conference call.
Based on the offer made by Zumiez, Active proposes to sell its assets for a total consideration of up to as much as $7.2 million cash, depending upon the outcome of Zumiez valuation of inventory and determination of number of stores to acquire.
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Same store sales down 1.7%. Company increases Q1 guidance based on stronger than expected sales and margins.
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Zumiez Inc. announced today that shareholder litigation alleging that “Zumiez and certain individuals made materially false or misleading statements and engaged in insider trading” have been dismissed.
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Zumiez Inc. (NASDAQ: ZUMZ) announced today that its same story sales for the five-week period ending April 4, 2009 were down 17.9 percent from the same period last year. The news follows up a 13.4 percent drop for Q4 2008.
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Zumiez, Inc. filed its 10-K statement on March 23. Unless you’re some kind of masochist, then you probably don’t want to read the entire thing. So, here are some interesting bullet points from the document.
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