Zumiez Inc. Announces Fiscal 2024 Fourth Quarter Results

Core Insights - Zumiez Inc. reported a 5.9% increase in comparable sales for the fourth quarter, with gross margin improving by 190 basis points to 36.2% [1][2] - The company achieved earnings per share of $0.78, a significant recovery from a loss of$1.73 in the same quarter of the previous year [1][2] - The board has approved a new stock repurchase authorization of up to $25 million [1][8] Financial Performance - Net sales for the fourth quarter decreased by 0.9$279.2 million compared to $281.8 million in the prior year [2] - For the fiscal year, total net sales increased by 1.6$889.2 million from $875.5 million [3] - The net loss for fiscal 2024 was$1.7 million, or $0.09 per share, compared to a net loss of$62.6 million, or $3.25 per share, in fiscal 2023 [3][14] Cash and Marketable Securities - As of February 1, 2025, the company had cash and current marketable securities totaling$147.6 million, down from $171.6 million a year earlier [4] - The decrease was primarily due to share repurchases and capital expenditures, partially offset by cash flow from operations [4] Operational Highlights - The CEO highlighted significant improvements in operating profitability driven by gross margin expansion and reduced operating expenses [5] - Comparable sales for the first quarter-to-date increased by 4.3$179 million and $183 million, with expected earnings per share losses between$0.72 and $0.82 [7] - Plans to open approximately 9 new stores in fiscal 2025, including 6 in North America, 2 in Europe, and 1 in Australia [7]