Zumiez Inc. Reports Holiday 2022 Sales Results
10 January 2023 - 12:30AM
Zumiez Inc. (NASDAQ: ZUMZ) a leading specialty retailer of apparel,
footwear, equipment and accessories for young men and women, today
announced that the Company's total net sales decreased 22.2% for
the nine-week period ended December 31, 2022, compared to the
nine-week period ended January 1, 2022. During the same
period comparable sales decreased 23.9%.
From a regional perspective, quarter-to-date
North America net sales decreased 26.7% Other international net
sales, which consists of Europe and Australia, increased 1.9%.
Excluding the impact of foreign currency translation, North America
net sales decreased 26.4% and other international net sales
increased 10.5% for the nine-week period compared to the prior
year.
During the nine-week period all categories were
down in comparable sales from the prior year with men’s being our
most negative, followed by Hardgoods, accessories, women’s, and
footwear.
The Company currently anticipates that sales for
the fourth quarter of fiscal 2022 will come in slightly above the
high end of our fourth quarter sales guidance of $258 million to
$268 million, while earnings are expected to be in the mid to high
end of our range of earnings per diluted share of $0.36 to
$0.51.
Rick Brooks, Chief Executive Officer of Zumiez
Inc., stated, “Through the holiday season we have continued to
experience difficult economic conditions led by a pullback in
discretionary spending, inflation driven costs pressures and a
promotional marketplace. Sales have been slightly ahead of our
guided levels, but we have also seen further discounting required
to move inventory resulting in earnings coming in within our
planned range. While we are disappointed with the current results,
I remain encouraged with how our teams have managed the business in
the face of these near-term challenges. Like we have done during
similar economic times, we are prudently balancing the protection
of near-term profitability while investing in our people and the
key projects that will continue to deliver our distinct merchandise
and world-class customer service that has been the foundation of
Zumiez’ long-term success.”
About Zumiez Inc.
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 December 31, 2022, we operated 766 stores, including 615 in
the United States, 52 in Canada, 78 in Europe and 21 in Australia.
We operate under the names Zumiez, Blue Tomato and Fast Times.
Additionally, we operate ecommerce web sites at zumiez.com,
blue-tomato.com and fasttimes.com.au.
Company Contact:Darin WhiteVP of Finance &
Investor RelationsZumiez Inc.(425) 551-1500, ext. 1337
Investor Contact:ICRBrendon Frey (203)
682-8200
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