Zumiez Inc. Reports Sales Results for the Five-Week Ended December 30, 2017; Revises Earnings Guidance for the Fourth Quarter of 2017
January 02, 2018
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Zumiez Inc. reported sales results for the five-week ended December 30, 2017. The company's comparable sales increased 7.9% for the five-week period compared to a comparable sales increased 3.4% for the five-week period ended December 31, 2016. Total net sales for the five-week period ended December 30, 2017, increased 11.4% to $160 million compared to $143.6 million for the five-week period ended December 31, 2016. The increase in comparable sales for the five weeks ended December 30, 2017, was driven primarily by an increase in comparable transactions, partially offset by a decrease in dollars per transaction. Dollars per transaction were down for the 5-week period due to the decrease in units per transaction, partially offset by the increase in average unit retail. Fourth quarter to date 2017 comparable sales increased 7.9%. Year-to-date comparable sales are up 5.8%.
Due primarily to stronger-than-expected quarter-to-date sales and product margin, the company is increasing guidance, and now expects fiscal 2017 fourth quarter comparable sales growth of approximately 7% and earnings per share between $0.88 and $0.90. This compares to the previous guidance for comparable sales growth between 3% and 5%, and earnings per share between $0.78 and $0.84, and excludes any potential impact of recently passed tax reform.
Zumiez Inc. is a specialty retailer of apparel, footwear, accessories and hardgoods for young men and women through the fashion, music, art and culture of action sports, streetwear and other lifestyles. The Company operates under the names Zumiez, Blue Tomato and Fast Times. It operates ecommerce websites at zumiez.com, zumiez.ca, blue-tomato.com and fasttimes.com.au. It operates over 756 stores: 597 in the United States, 47 in Canada, 87 in Europe and 25 in Australia. It owns approximately 356,000 square feet of land in Lynnwood, Washington, on which it owns a 63,071 square foot home office. It leases 14,208 square feet of office space in Schladming, Austria for its European home office. It also owns a 168,450 square foot building in Corona, California that serves as its domestic warehouse and distribution center. It operates 756 stores in various locations, including Alabama, Nevada, British Columbia, Alberta, Austria, Netherlands, South Australia, Queensland and others.