- Prachi Singh |
Total net sales at Zumiez for the fourth quarter increased 16.9 percent to 308.2 million dollars from 263.6 million dollars in the quarter ended January 28, 2017. Comparable sales for the 14-week period increased 7.5 percent. Total net sales for fiscal 2017 increased 10.9 percent to 927.4 million dollars from 836.3 million dollars in fiscal 2016, while comparable sales increased 5.9 percent compared to the same period last year.
Commenting on the results, Rick Brooks, Chief Executive Officer of Zumiez Inc., said in a media statement: "We concluded 2017 with strong fourth quarter comparable sales performance which came on top of a successful holiday selling period in the prior year fourth quarter. While we are pleased with our recent top-line results, we believe the company is positioned to deliver accelerated earnings growth in 2018 through a combination of positive comparable sales, margin enhancement programs, improved expense leverage, and lower taxes.”
FY17 net income increases to 26.8 mn dollars
Net income for the quarter was 19.9 million dollars or 0.80 dollar per diluted share, compared to 18.2 million dollars or 0.74 dollar per diluted share in the fourth quarter of the prior fiscal year. Net income in fiscal 2017 increased to 26.8 million dollars or 1.08 dollars per diluted share, compared to 25.9 million dollars or 1.04 dollars per diluted share.
Total net sales for the four-week period ended March 3, 2018 increased 23.2 percent to 63.4 million dollars compared to 51.5 million dollars for the four-week period ended February 25, 2017. The company's comparable sales increased 9.2 percent for the four-week period compared to a decrease of 3.1 percent last year.
Zumiez expects 4 to 6 percent rise in Q1 comparable sales
For the first quarter of fiscal 2018, the company has projected net sales to be in the range of 198 million dollars to 202 million dollars including anticipated comparable sales growth of between 4percent and 6 percent. Consolidated operating margins are expected to be between negative 2.6 percent and negative 1.7 percent resulting in a net loss per share of approximately 0.18 dollar to 0.13 dollar.
The company currently intends to open approximately 13 new stores in fiscal 2018, including up to six stores in the United States, five stores in Europe and two stores in Australia.