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Zumiez(ZUMZ) - 2023 Q1 - Earnings Call Transcript
2023-06-01 23:52
Financial Data and Key Metrics Changes - First quarter net sales were $182.9 million, down 17.1% from $220.7 million in Q1 2022 [15] - Comparable sales decreased by 18.8% for the quarter, primarily driven by North America [15][16] - Gross profit was $49.4 million, compared to $72.4 million in the same quarter last year, with gross profit as a percentage of sales at 27% compared to 32.8% in Q1 2022 [17][18] - Operating loss for Q1 2023 was $21.4 million, or 11.7% of net sales, compared to an operating profit of $0.5 million, or 0.2% of net sales, in the previous year [22] - Net loss for the first quarter was $18.4 million, or $0.96 per share, compared to a net loss of $0.4 million, or $0.02 per share, in Q1 2022 [22] Business Line Data and Key Metrics Changes - North America net sales were $144 million, a decrease of 22.7% from 2022, while other international net sales (Europe and Australia) were $38.9 million, up 13.3% [16] - Comparable sales for North America were down 24.2%, while comparable sales for other international markets were up 12.2% [16] - All categories saw declines in comparable sales, with men's apparel being the most negatively impacted [17] Market Data and Key Metrics Changes - Comparable sales in Europe increased by 12.8% and in Australia by 8.7% [13] - North America experienced a significant decline in sales, while international markets showed resilience [15][16] Company Strategy and Development Direction - The company plans to focus on strategic investments that will create long-term benefits, including training and mentoring for employees [8] - Continued investment in optimizing trade area performance and enhancing customer engagement through innovative approaches [11] - The company aims to open up to 23 new stores in 2023, contingent upon finding suitable locations [41] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging operating environment due to inflation and increased promotional activity [5][6] - The company remains confident in its ability to navigate economic downturns and expects to outperform the market when conditions improve [6][13] - For Q2 2023, total sales are projected to be between $187 million and $192 million, with expected product margins down between 50 and 70 basis points from Q2 2022 [31][32] Other Important Information - The company ended the quarter with $155.3 million in cash and current marketable securities, down from $173.0 million a year ago [24] - Inventory levels increased by 4.2% year-over-year, driven by store count increases in international markets [25] Q&A Session Summary Question: Inventory planning for back-to-school - Management expressed confidence in inventory management, noting that while inventory is more aged than last year, it is in a better position than at the end of the previous year [43][44] Question: Impact of consumer stress on categories - Management indicated that the challenges in categories like footwear are trend-driven rather than solely due to consumer price sensitivity [55][56] Question: Performance in international markets - Management believes they are gaining market share in international markets despite macroeconomic challenges, with positive sales trends in new countries [65][66] Question: Hardgoods penetration and store openings - Hardgoods have seen a decline in sales percentage, and management expects a heavier cadence of store openings in the back half of the year [79][83]
Zumiez(ZUMZ) - 2023 Q4 - Annual Report
2023-03-20 13:31
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: January 28, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒ Indicate by check mark if the registrant is not required to file reports p ...
Zumiez(ZUMZ) - 2022 Q4 - Earnings Call Transcript
2023-03-10 02:06
Zumiez Inc. (NASDAQ:ZUMZ) Q4 2022 Earnings Conference Call March 9, 2023 5:00 PM ET Corporate Participants Rich Brooks - Chief Executive Officer Chris Work - Chief Financial Officer Conference Call Participants Mitch Kummetz - Seaport Bill Dezellem - Tieton Capital Operator Good afternoon, ladies and gentlemen, and welcome to the Zumiez Inc., Fourth Quarter Fiscal 2022 Earnings Conference Call. At this time all participants are in a listen-only mode. We will conduct a question-and-answer session towards the ...
Zumiez(ZUMZ) - 2023 Q3 - Quarterly Report
2022-12-05 21:14
UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED OCTOBER 29, 2022 WASHINGTON, D.C. 20549 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) Washington 91-1040022 (State or other jurisdiction of (I.R.S. Employer incorporation or organizati ...
Zumiez(ZUMZ) - 2022 Q3 - Earnings Call Transcript
2022-12-02 00:49
Zumiez Inc. (NASDAQ:ZUMZ) Q3 2022 Earnings Conference Call December 1, 2022 5:00 PM ET Company Participants Richard Brooks - Chief Executive Officer Christopher Work - Chief Financial Officer Conference Call Participants Sharon Zackfia - William Blair Mitch Kummetz - Seaport Corey Tarlowe - Jefferies Operator Good afternoon, ladies and gentlemen and welcome to the Zumiez Inc. Third Quarter Fiscal 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. We will conduct a quest ...
Zumiez(ZUMZ) - 2022 Q2 - Earnings Call Transcript
2022-09-08 23:37
Zumiez Inc. (NASDAQ:ZUMZ) Q2 2022 Earnings Conference Call September 8, 2022 5:00 PM ET Company Participants Rick Brooks - Chief Executive Officer Chris Work - Chief Financial Officer Conference Call Participants Sharon Zackfia - William Blair Jeff Van Sinderen - B. Riley Mitch Kummetz - Seaport Research Corey Tarlowe - Jefferies Presentation Operator Good afternoon, ladies and gentlemen, and welcome to the Zumiez Inc. Second Quarter Fiscal 2022 Earnings Conference Call. At this time, all participants are i ...
Zumiez(ZUMZ) - 2023 Q2 - Quarterly Report
2022-09-08 21:01
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 JULY 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 000-51300 ZUMIEZ INC. Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ If an emerging growth company, i ...
Zumiez(ZUMZ) - 2023 Q1 - Quarterly Report
2022-06-06 20:01
OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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 APRIL 30, 2022 Commission file number 000-51300 ZUMIEZ INC. (Exact name of registrant as specified in its charter) Washington 91-1040022 (State or other jurisdiction of (I.R.S. Employer incorporation or organization ...
Zumiez(ZUMZ) - 2022 Q1 - Earnings Call Transcript
2022-06-03 01:05
Zumiez Inc. (NASDAQ:ZUMZ) Q1 2022 Earnings Conference Call June 2, 2022 5:00 PM ET Company Participants Rick Brooks – Chief Executive Officer Chris Work – Chief Financial Officer Conference Call Participants Richard Magnuson – B. Riley Corey Tarlowe – Jefferies Mitch Kummetz – Seaport Research Operator Good afternoon, ladies and gentlemen, and welcome to the Zumiez Incorporated First Quarter Fiscal 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. We will conduct a que ...
Zumiez(ZUMZ) - 2022 Q4 - Annual Report
2022-03-14 20:01
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: January 29, 2022 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) Washington 91-1040022 (State or other jurisdiction of (IRS Employer incorporation or organization) Ident ...