A difficult year for ZUMZ ended on a brighter note, as revenues ticked higher, increasing 1% to $281,822,000 from $280,110,000, but a $41.1 million goodwill impairment charges turned what would have been a nice profit into a $33,487,000 loss, compared to net income of $11,432,000 in Q4 ’22. Comps declined 3.9%. The charge was for its Blue Tomato banner in Europe, where it made the decision to slow store growth and focus on profitability, necessitating the writedown due to lower cash flow projections. Gross margin improved 30 basis points to 34.3%, ... Log in to view full article.