Zumiez posts 16% sales increase

25/05/2010

Action sports related footwear retailer Zumiez has reported improved results for its first quarter ended May 1.


Net sales rose 16% to $89.1 million from $76.8 million reported in the first quarter ended May 2. Comparable store sales increased 9.1% compared with a decrease of 15.3% during the first quarter of fiscal 2009.


The company posted a net loss of $1.9 million compared with $1.7 million during the first quarter of the prior fiscal year.


Rick Brooks, chief executive officer, said: "The combination of improved sales and better than expected product margins allowed us to more than offset planned operating expense increases and begin 2010 with first quarter bottom line results that were above our projections. We are optimistic that the enhancements we have made to our merchandise assortments and selling strategies over the past 12 months, both in our stores and on our website, have us well positioned for the future.


“At the same time, we are making important investments to our infrastructure, including investing in new systems and processes as well as the relocation of our distribution centre, which we believe will help further enhance our ability to achieve our long-term objectives and build on our industry status as the leading retail destination for the action sports lifestyle."