“Fiscal 2008, particularly the second half of the year, was incredibly challenging,” says CEO Ricks Brooks. “As a result, we saw a significant increase in promotional activity across all of retail, especially during the third and fourth quarters.”
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March 18 2009 |
331 views | 2 comments
Zumiez announced its fourth quarter results today, reporting a decrease of 13.4% in comparable store sales for the fourth quarter of fiscal 2008, compared to a 4.0% increase in the fourth quarter of fiscal 2007, according to a press release on the company’s investor relations site.
“Rick Brooks, Chief Executive Officer of Zumiez Inc., stated: ‘Fiscal 2008, particularly the second half of the year, was incredibly challenging. Since September the deteriorating economic conditions have significantly dampened consumer appetite for discretionary items. As a result, we saw a significant increase in promotional activity across all of retail, especially during the third and fourth quarters. We reacted in quick fashion and were able to manage our business in such a way to remain profitable for all four quarters of fiscal 2008. In light of the unprecedented environment, our team did an exceptional job controlling expenses, managing inventory, and most importantly, preserving the unique Zumiez concept. We begin 2009 confident that our strong balance sheet which includes approximately $79 million in cash, cash equivalents and current marketable securities, no debt and lean inventory levels, combined with our competitive advantages will allow us to successfully manage our business through this difficult macro environment. While longer-term we believe we are well positioned to drive increased profitability and greater shareholder value once the economy improves.’”
The company also introduced guidance for the first quarter of 2009, forecasting a net loss of approximately ($0.17) to ($0.13) per diluted share, according to the report. Zumiez also plans to open 37 stores in 2009, at the same pace it opened stores in 2008.
Click HERE to read the entire press release.
In this installment of Retail Round Up we examine how specialty stores and department stores are performing based on same-store sales results over that past fourteen months.
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March 05 2009 |
955 views
Zumiez Inc. announced today its comparable store sales fell by 13.4% for the four-week period ended February 28, 2009, versus a comparable store sales decrease of 2.6% in the year ago period ended March 1, 2008, according to press release published on the company’s investor relations Web site.
Total net sales increased 0.3% to $23 million, compared to approximately $23.1 million for the four-week period ended March 1, 2008, according to the report.
To hear the Zumiez prerecorded February sales message, please dial (585) 295-6795 (no passcode is required). To read the full report, click HERE.
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March 04 2009 |
183 views
Zumiez has added an action sports video download feature on its Website in conjunction with Ally Video Disribution. The site allows users to download videos for between $3.99 and $12.99. Additionally, users can purchase individual rider sections for $1.99.
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March 03 2009 |
231 views | 3 comments
In an effort to provide our readers with the most comprehensive coverage of the current retail climate as possible, Transworld Business has developed a new monthly column we’re calling Retail Round Up. In this installment we examine how specialty stores and department stores are performing based on same-store sales results over that past thirteen months.
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February 05 2009 |
889 views | 13 comments
According to a report released today by Zumiez Investor Relations, the brand’s comparable store sales for the four week period ending January 31, 2009, decreased by 14.8% versus the 1.7% increase seen in comparable store sales for the same year-ago period ending February 2, 2008.
“Total net sales for the four-week period ended January 31, 2009 decreased 2.0% to approximately $20.3 million, compared to approximately $20.7 million for the four-week period ended February 2, 2008.
Based on better than expected sales and margins for the fourth quarter, the Company expects to be at the high end of its previously announced diluted earnings per share guidance range of $0.52 to $0.57 for the fiscal year ending January 31, 2009.”
Read more HERE.
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February 04 2009 |
199 views | 2 comments
Get KO’d with over 1,100 Zumiez staff and industry titans.
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January 15 2009 |
4,619 views | 94 comments
As you may remember from last year’s ICR XChange Conference, many of the major players in the action sports/ teen and young-adult apparel markets will be presenting their company’s outlooks for 2009 and beyond. To keep your finger on the pulse of what the publicly traded companies that affect our market are up to, tune in to these live Web cast presentations through out the day right here.
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January 14 2009 |
384 views
In an effort to provide our readers with the most comprehensive coverage of the current retail climate as possible, Transworld Business has developed a new monthly column we’re calling Retail Round Up. In this installment we examine monthly same-store sales results for more than a dozen retailers that cater to the teen/ young adult market
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January 09 2009 |
1,034 views | 5 comments
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