Zumiez Inc. Announces Fiscal 2016 Fourth Quarter and Full Year Results
Fourth Quarter Earnings Per Share of $0.74
(firmenpresse) - LYNNWOOD, WA -- (Marketwired) -- 03/09/17 -- Zumiez Inc. (NASDAQ: ZUMZ) today reported results for the fourth quarter and fiscal year ended January 28, 2017.
Total net sales for the fourth quarter ended January 28, 2017 (13 weeks) increased 8.7% to $263.6 million from $242.4 million in the quarter ended January 30, 2016 (13 weeks). Comparable sales for the 13-week period ended January 28, 2017 increased 5.1% compared to a 9.5% decrease for the 13-week period ended January 30, 2016. Net income in the fourth quarter of fiscal 2016 increased 38.3% to $18.2 million, or $0.74 per diluted share, from net income of $13.1 million, or $0.50 per diluted share, in the fourth quarter of fiscal 2015. The results for fiscal 2015 include charges of $1.2 million, or approximately $0.03 per diluted share for exit costs associated with the shutdown of the Company''s fulfillment facility in Edwardsville, Kansas.
Total net sales for fiscal 2016 (52 weeks) increased 4.0% to $836.3 million from $804.2 million in fiscal 2015 (52 weeks). Comparable sales for the 52-week period ended January 28, 2017 decreased 0.2% compared to a 5.3% decrease for the 52-week period ended January 30, 2016. Net income in fiscal 2016 decreased 10.0% to $25.9 million, or $1.04 per diluted share compared to net income in the prior fiscal year of $28.8 million, or $1.04 per diluted share. Results for the fiscal year 2015 include approximately $1.5 million, or $0.04 per diluted share, for charges associated with the acquisition of Blue Tomato, and $1.2 million, or approximately $0.03 per diluted share for exit costs associated with the shutdown of the Company''s fulfillment facility in Edwardsville, Kansas.
Cash and Current Marketable Securities
At January 28, 2017, the Company had cash and current marketable securities of $78.8 million, compared to cash and current marketable securities of $75.6 million at January 30, 2016. The increase in cash and current marketable securities was driven by cash generated through operations of $48.5 million partially offset by stock repurchases of $21.6 million and capital expenditures of $20.4 million.
Rick Brooks, Chief Executive Officer of Zumiez Inc., stated, "Our fourth quarter earnings performance exceeded expectations driven by efficiencies realized as we continued to execute on our omni-channel and localization efforts combined with a more favorable tax rate. The investments we''ve made in our merchandise offering, sales teams and omnichannel capabilities generated solid top-line momentum during the holiday season and continue to further distinguish Zumiez, Blue Tomato and Fast Times from the competition. We are pleased with our finish to the year especially in light of the headwinds facing the retail industry. Looking ahead, our primary focus remains on executing the strategic multi-year growth objectives that we believe will deliver increased profitability and greater shareholder value over the long-term. We believe that it is this focus that will allow us to successfully navigate through the current environment, including the impact that certain events are having on our monthly sales cadence in early 2017."
February 2017 Sales
Total net sales for the four-week period ended February 25, 2017 decreased 0.8% to $51.5 million, compared to $51.9 million for the four-week period ended February 27, 2016. The Company''s comparable sales decreased 3.1% for the four-week period ended February 25, 2017 compared with a comparable sales decrease of 8.6% for the four-week period ended February 27, 2016.
Fiscal 2017 First Quarter Outlook
The Company is introducing guidance for the three months ending April 29, 2017. Net sales are projected to be in the range of $178 million to $182 million resulting in a net loss per share of approximately -$0.17 to -$0.21. This guidance is based upon anticipated comparable sales growth of between 0% and positive 2% for the first quarter of fiscal 2017 compared to the prior year. The Company currently intends to open approximately 18 new stores in fiscal 2017, including up to 3 stores in Canada, 4 stores in Europe and 2 stores in Australia.
A conference call will be held today to discuss fourth quarter and fiscal 2016 year-end results and will be webcast at 5:00 p.m. ET on . Participants may also dial (574) 990-9934 followed by the conference identification code of 80527207.
Zumiez is a leading specialty retailer of apparel, footwear, accessories and hardgoods for young men and women who want to express their individuality through the fashion, music, art and culture of action sports, streetwear, and other unique lifestyles. As of February 25, 2017 we operated 684 stores, including 602 in the United States, 48 in Canada, and 29 in Europe and 5 in Australia. We operate under the names Zumiez, Blue Tomato and Fast Times. 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 October 29, 2016 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.
Darin White
Director of Finance &
Investor Relations
Zumiez Inc.
(425) 551-1500, ext. 1337
ICR
Brendon Frey
(203) 682-8200
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Datum: 09.03.2017 - 15:05 Uhr
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News-ID 1491779
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