Zumiez Posts Q4 Decline; Positions for Next Big Thing
Zumiez handily beat its recently raised guidance on the top and bottom lines but net income dropped 25% to $13,149,000 from $17,513,000 in the fourth quarter ended Jan. 30 on 6% lower revenues at $242,434,000 vs. $258,569,000. Last year’s quarter had $6.9 million in charges related to the Blue Tomato acquisition while this year had $1.2 million from shuttering the DTC fulfillment facility. Sales were hit by about $5.5 million in exchange rate effects, and would have been down 4% constant currency. Comp store sales decreased 9.5% compared to a strong 8.3% increase last year on lower transaction volume partially ... Log in to view full article.