Business
Zumiez Inc. Announces Fiscal 2024 Fourth Quarter Results
Fourth Quarter Comparable Sales Increased 5.9%Fourth Quarter Gross Margin Increased 190 Basis Points to 36.2%Fourth Quarter Earnings Per Share Improved to
About this update from Zumiez Inc.
[{"type":"text","content":"Fourth Quarter Comparable Sales Increased 5.9%Fourth Quarter Gross Margin Increased 190 Basis Points to 36.2%Fourth Quarter Earnings Per Share Improved to $0.78 from ($1.73)First Quarter-To-Date Comparable Sales up 4.3%, Led by North America Up 6.4%Board Approves New Stock Repurchase Authorization LYNNWOOD, Wash., March 13, 2025 (GLOBE NEWSWIRE) -- Zumiez Inc. (NASDAQ: ZUMZ) a leading specialty retailer of apparel, footwear, equipment and accessories for young men and women, today reported results for the fourth quarter and year ended February 1, 2025. Net sales for the fourth quarter ended February 1, 2025 (13 weeks) decreased 0.9% to $279.2 million from $281.8 million in the fourth quarter ended February 3, 2024 (14 weeks). Comparable sales for the thirteen weeks ended February 1, 2025 increased 5.9%. Net income in the fourth quarter of fiscal 2024 was $14.8 million, or $0.78 per share, compared to a net loss of $33.5 million, or $1.73 per share, in the fourth quarter of the prior fiscal year. Fiscal 2023 fourth quarter results reflect a goodwill impairment charge of $41.1 million, or $2.13 per share after-tax, related to the Company’s decision to slow store growth and focus on profitability in Europe and the corresponding impact on the future cash flow projections of its Blue Tomato business. Total net sales for the twelve months (52 weeks) ended February 1, 2025, increased 1.6% to $889.2 million from $875.5 million reported for the twelve months (53 weeks) ended February 3, 2024. Comparable sales increased 4.0% for fifty-two weeks ended February 1, 2025. Net loss for fiscal 2024 was $1.7 million, or $0.09 per share. Net loss for fiscal 2023 inclusive of the $41.1 million goodwill impairment charge was $62.6 million, or $3.25 per share. As of February 1, 2025, the Company had cash and current marketable securities of $147.6 million compared to cash and current marketable securities of $171.6 million as of February 3, 2024. The decrease was primarily driven by share repurchases and capital expenditures partially offset by cash flow from operations. Rick Brooks, Chief Executive Officer of Zumiez Inc., stated, “We delivered a substantial improvement in fourth quarter operating profitability driven by significant gross margin expansion and a meaningful reduction in operating expenses. Comparable sales increased by 5.9% led by Nor...