Zumiez Inc. Announces Fiscal 2013 Second Quarter Results
Company Reports August Sales
(firmenpresse) - LYNNWOOD, WA -- (Marketwired) -- 09/05/13 -- Zumiez Inc. (NASDAQ: ZUMZ) a leading specialty retailer of action sports related apparel, footwear, equipment and accessories, today reported results for the second quarter ended August 3, 2013.
Total net sales for the second quarter ended August 3, 2013 (13 weeks) increased 16.9% to $157.9 million from $135.1 million in the quarter ended July 28, 2012 (13 weeks). Comparable store sales for the thirteen weeks ended August 3, 2013 increased 0.9% on top of a comparable store sales increase of 9.5% for the thirteen weeks ended July 28, 2012. Net income in the second quarter of fiscal 2013 was $4.7 million, or $0.16 per diluted share, compared to net income of $2.1 million, or $0.07 per diluted share, in the second quarter of the prior fiscal year. The results for fiscal 2013 include costs of approximately $1.7 million, or $0.04 per diluted share, for charges associated with the acquisition of Blue Tomato, and the results for fiscal 2012 include approximately $2.4 million, or $0.06 per diluted share, of Blue Tomato acquisition related costs, and approximately $1.3 million, or $0.03 per diluted share, of costs associated with the relocation of the Company's ecommerce fulfillment center to Edwardsville, Kansas and its corporate offices to Lynnwood, Washington from Everett, Washington.
Total net sales for the six months (26 weeks) ended August 3, 2013 increased 15.6% to $306.4 million from $265.0 million reported for the six months (26 weeks) ended July 28, 2012. Comparable store sales increased 0.2% for the twenty six weeks ended August 3, 2013 on top of a comparable store sales increase of 11.1% for the twenty six weeks ended July 28, 2012.
The Company reported net income of $7.2 million or $0.24 per diluted share in the first six months of fiscal 2013 compared to net income for the first six months of the prior fiscal year of $6.6 million or $0.21 per diluted share. Results for the first six months of fiscal 2013 include approximately $3.4 million, or $0.09 per diluted share, for charges associated with the acquisition of Blue Tomato. Results for the first six months of fiscal 2012 include approximately $2.8 million, or $0.08 per diluted share, of Blue Tomato acquisition related costs, and approximately $1.6 million, or $0.03 per diluted share, of costs associated with the relocation of the Company's ecommerce fulfillment center to Edwardsville, Kansas and corporate offices to Lynnwood, Washington from Everett, Washington.
At August 3, 2013, the Company had cash and current marketable securities of $95.0 million compared to cash and current marketable securities of $96.8 million at July 28, 2012. The decrease in cash and current marketable securities is a result of capital expenditures and stock repurchases, offset by cash generated through operations.
Rick Brooks, Chief Executive Officer of Zumiez Inc., stated, "We are pleased with our second quarter earnings results in what proved to be a challenging retail environment. We believe we have compelling merchandise assortments and our efforts to enhance our omni-channel capabilities are yielding positive gains. With significant expansion opportunities still ahead of us, we continue to invest in our people and infrastructure in order to best position the company to deliver sustainable sales and earnings growth and shareholder value for years to come."
August 2013 Sales
Total net sales for the four-week period ended August 31, 2013 increased 14.3% to $85.9 million, compared to $75.2 million for the four-week period ended August 25, 2012. The Company's comparable store sales increased 3.0% for the four-week period ended August 31, 2013 compared to a comparable store sales increase of 3.7% for the four-week period ended August 25, 2012.
Fiscal 2013 Third Quarter Outlook
The Company is introducing guidance for the three months ending November 2, 2013. Net sales are projected to be in the range of $187 to $191 million resulting in net income per diluted share of approximately $0.39 to $0.43, which includes an estimated $1.6 million, or approximately $0.04 per diluted share, for charges associated with the acquisition of Blue Tomato. This guidance is based on anticipated comparable store sales in the range of 0% to 2% for the third quarter of fiscal 2013.
The Company currently intends to open 58 new stores in fiscal 2013, including 9 stores in Canada and 5 stores in Europe.
A conference call will be held today to discuss second quarter fiscal 2013 results and will be webcast at 5:00 p.m. ET on . Participants may also dial (617)-399-5121 followed by the conference identification code of 46557503.
Zumiez is a leading multi-channel specialty retailer of action sports related apparel, footwear, equipment and accessories, focusing on skateboarding, snowboarding, surfing, motocross and BMX for young men and women. As of August 31, 2013 we operated 537 stores including, 501 in the United States, 28 in Canada, and 8 in Europe. We operate under the name Zumiez and Blue Tomato. Additionally, we operate ecommerce web sites at and .
Certain statements in this press release and oral statements relating thereto made from time to time by representatives of the Company may constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. These statements include, without limitation, predictions and guidance relating to the Company's future financial performance, brand and product category diversity, ability to adjust product mix, integration of acquired businesses, growing customer demand for our products and new store openings. In some cases, you can identify forward-looking statements by terminology such as, "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties, which include, without limitation, those described in the Company's quarterly report on Form 10-Q for the quarter ended May 4, 2013 as filed with the Securities and Exchange Commission and available at . You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Brian Leith
Director of Finance & Investor Relations
Zumiez Inc.
(425) 551-1500, ext. 1610
ICR
Brendon Frey
(203) 682-8200
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Datum: 05.09.2013 - 14:00 Uhr
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