Second Quarter Comparable Sales Increased 3.6% Second Quarter Gross Margin increased 250 basis points to 34.2% Second Quarter Loss Per share improved to ($0.04) from ($0.44) Third Quarter-to-date Comparable Sales up 12.1% LYNNWOOD, Wash., Sept. 05, 2024 (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 second quarter ended August 3, 2024. Net sales for the second quarter ended Au ...

Financial Performance - Net sales for the three months ended August 3, 2024, were $210.2 million, an increase of $15.8 million or 8.1% compared to $194.4 million for the same period in 2023[64] - Comparable sales increased by 3.6% for the three months ended August 3, 2024, driven by an increase in dollars per transaction[65] - Gross profit for the three months ended August 3, 2024, was $71.8 million, an increase of $10.1 million or 16.4%, with gross profit as a percentage of net sales rising to 34.2%[66] - Net sales for the six months ended August 3, 2024, were $387.6 million, an increase of $10.3 million or 2.7% compared to $377.3 million for the same period in 2023[69] - Comparable sales for the six months ended August 3, 2024, increased by 0.8%, driven by an increase in dollars per transaction[70] - Gross profit for the six months ended August 3, 2024, was $123.7 million, an increase of $12.7 million or 11.4%, with gross profit as a percentage of net sales rising to 31.9%[71] - The net loss for the six months ended August 3, 2024, was $17.6 million, or $0.91 loss per diluted share, compared to a net loss of $26.9 million, or $1.40 loss per diluted share, for the same period in 2023[73] Expenses and Cash Flow - Selling, general and administrative expenses for the three months ended August 3, 2024, were $72.2 million, remaining flat compared to the same period in 2023, but as a percentage of net sales decreased to 34.4%[67] - Selling, general and administrative (SG&A) expenses increased by $1.3 million, or 0.9%, to $144.2 million for the six months ended August 3, 2024, with SG&A as a percent of net sales decreasing by 70 basis points to 37.2%[72] - Net cash used in operating activities decreased by $8.8 million to $15.4 million for the six months ended August 3, 2024, from $24.3 million for the same period in 2023[77] - Net cash provided by investing activities was $15.9 million for the six months ended August 3, 2024, primarily due to $6.3 million of capital expenditures for new store openings and remodels, offset by $22.2 million in net sales of marketable securities[78] - Net cash used in financing activities for the six months ended August 3, 2024, was $19.4 million, primarily related to the repurchase of common stock[79] Capital Expenditures and Future Outlook - The company expects to spend approximately $14.0 million to $16.0 million on capital expenditures in fiscal 2024, primarily for leasehold improvements and fixtures for about 7 new stores[76] - Future capital requirements will depend on factors such as the pace of new store openings and the availability of suitable locations[75] Risks and Challenges - The increase in sales was affected by continued inflationary pressures on consumers and competition for discretionary spending[64] - A decrease in consumer traffic could lead to lower than expected sales, impacting financial results significantly[93] - North America growth strategy relies on optimizing customer engagement and may strain resources, potentially affecting overall business performance[94] - International expansion plans include risks related to different competitive conditions and consumer preferences, which could negatively impact operations[95] - Acquisitions, such as Blue Tomato and Fast Times, may face integration challenges that could divert capital and management attention, affecting financial performance[97] - Increased labor costs, including minimum wage and healthcare, could adversely impact operating profit and overall financial condition[107] - Fluctuations in foreign currency exchange rates may materially affect financial results as international operations expand[105] - The company is exposed to risks from raw material cost fluctuations, which could adversely impact gross profit and overall financial performance[104] - Relationships with vendors are crucial; deterioration could lead to supply issues and negatively affect business operations[112] - Weather conditions and climate change may unpredictably impact sales and operational results[114] - The business is susceptible to unseasonable weather conditions, which could materially adversely affect operations and inventory compatibility[115] - The company relies heavily on key executives for performance; losing them could hinder growth objectives and management capabilities[116] - Staffing challenges, particularly in retail, could impact the ability to implement growth strategies and operational efficiency[117] - A decline in cash flows from operations could adversely affect the company's ability to fund operations and growth strategies[118] - The company operates a single distribution center in the U.S. and relies on various international centers, making it vulnerable to disruptions from unforeseen events[119] - Risks associated with terrorism and violence in shopping malls could lead to decreased consumer traffic and sales[120] - The company faces potential litigation risks that could result in significant costs and impact financial performance[122] - Fluctuations in tax obligations and effective tax rates may lead to volatility in operating results[126] - The company may fail to meet analyst and investor expectations, potentially causing stock price declines[127] - Increased scrutiny regarding environmental, social, and governance (ESG) practices may result in additional costs or risks[130]

Investors might want to bet on Zumiez (ZUMZ) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. The pow ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time. Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead ...

LYNNWOOD, Wash., Aug. 22, 2024 (GLOBE NEWSWIRE) -- Zumiez Inc. (NASDAQ: ZUMZ) today announced it will report fiscal 2024 second quarter results on Thursday, September 5, 2024, following the closing of regular stock market trading hours. The Company will hold a conference call that day at 5:00 p.m. ET to review the results. To access the conference call, please pre-register using this link (Registration Link). Registrants will receive confirmation with dial-in details. The conference call will also be availa ...

Zumiez Inc.'s (ZUMZ) customer-centric approach, brand innovation and localized merchandising have positioned it strongly in the market. With strategic investments in technology and omnichannel capabilities, the company has successfully improved customer shopping experiences and driven sales growth. Improved gross margins in first-quarter 2024 and positive trends in North America highlight the effectiveness of its operations. Looking ahead, Zumiez's careful store expansion and focus on profitability set a pr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MAY 4, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 000-51300 ZUMIEZ INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Non ...

Zumiez Inc. (NASDAQ:ZUMZ) Q1 2024 Earnings Conference Call June 6, 2024 5:00 PM ET Company Participants Rick Brooks - CEO Chris Work - CFO Conference Call Participants Mitch Kummetz - Seaport Richard Magnusen - B. Riley Operator Good afternoon ladies and gentlemen and welcome to the Zumiez Inc. First Quarter Fiscal 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. We will conduct a question-and-answer session towards the end of this conference. Before we begin, I'd lik ...

EXHIBIT 99.1 Zumiez Inc. Announces Fiscal 2024 First Quarter Results Board Approves New Stock Repurchase Authorization LYNNWOOD, Wash., June 06, 2024 (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 first quarter ended May 4, 2024. Net sales for the first quarter ended May 4, 2024 (13 weeks) decreased 3.0% to $177.4 million from $182.9 million in the first quarter ended April 2 ...

Zumiez Inc. (NASDAQ:ZUMZ) Q4 2023 Results Conference Call March 14, 2024 5:00 PM ET Company Participants Rick Brooks - Chief Executive Officer Chris Work - Chief Financial Officer Conference Call Participants Corey Tarlowe - Jefferies Mitch Kummetz - Seaport Operator Good afternoon, ladies and gentlemen. And welcome to the Zumiez Inc. Fourth Quarter Fiscal 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Before we begin, I'd like to remind ever ...