Thu, Sep 5, 8:02 PM (131 days ago)
For the quarter ending August 3, 2024, Zumiez Inc. reported net sales of $210.2 million, an 8.1% increase from $194.4 million in the same period last year, driven primarily by a favorable calendar shift and growth in North America. Gross profit rose 16.4% to $71.8 million, with gross margins improving by 250 basis points, attributed to better cost management in occupancy and shipping. However, selling, general, and administrative expenses remained flat at $72.2 million, leading to a slight operating loss of $0.4 million compared to a loss of $10.5 million in the prior year. The net loss narrowed to $0.8 million ($0.04 per share) from $8.5 million ($0.44 per share) due to improved sales and cost efficiencies. Cash flow from operations showed improvement, with a reduction in cash used to $15.4 million from $24.3 million year-over-year. The company ended the quarter with $65.8 million in cash and cash equivalents, down from $88.9 million, reflecting ongoing investments and stock repurchases. Looking forward, Zumiez plans to continue its growth strategy, focusing on customer engagement and potential new store openings despite facing inflationary pressures and competitive challenges.