Zumiez Sees Sales Surge and Reduced Losses in Second Quarter fashion news, мода, стиль

Zumiez Inc., the Washington-based fashion retailer specializing in men’s and women’s youth apparel and footwear, reported encouraging financial results for its second quarter ending August 3^rd, 2024. The company experienced an 8.1% increase in sales, reaching $210.2 million, driven by a 3.6% rise in comparable store sales. This positive trend helped Zumiez significantly narrow its net loss to $0.8 million, or $0.04 per share, compared to a net loss of $8.5 million, or $0.44 per share, in the same quarter last year.

This strong performance extended to the first half of the fiscal year, with total net sales reaching $387.6 million and comparable sales increasing by 0.8%. Consequently, Zumiez reduced its losses for the first six months to $17.6 million, or $0.91 per share, compared to a net loss of $26.9 million, or $1.40 per share, in the same period last year.

CEO Rick Brooks attributed this success to several factors, stating: «We experienced a noticeable acceleration in our sales trend as the second quarter unfolded, with July North America comparable sales increasing in the high-single digits.» He further emphasized the role of refined apparel and footwear assortments, coupled with enhanced customer engagement tactics employed by both in-store and online sales associates, in driving these positive results.

Brooks expressed optimism about Zumiez’s future prospects: «With back-to-school a good indicator for holiday demand in the past, we are encouraged about our prospects for growth over the remainder of fiscal 2024.» He reaffirmed confidence in the company’s global customer-centric operating model, believing it positions Zumiez for continued progress and enhanced shareholder value in the coming years.

Looking ahead, Zumiez plans to open approximately nine new stores in fiscal 2024, strategically distributed across North America, Europe, and Australia. Simultaneously, the company will close approximately 25 existing stores by year-end, reflecting its commitment to optimizing store network efficiency.