January 2019 Comparable Sales Increased 3.5%; Company Raises Fourth Quarter Outlook
Zumiez Inc. Reports January 2019 Sales Results
LYNNWOOD, Wash., Feb. 06, 2019 (GLOBE NEWSWIRE) -- Zumiez Inc. (NASDAQ: ZUMZ), a leading specialty retailer of apparel, footwear, equipment and accessories for young men and women, today announced that total net sales for the four-week period ended February 2, 2019 decreased 18.3% to $53.9 million, compared to $66.0 million for the five-week period ended February 3, 2018. Our net sales growth rate in January is negatively impacted by the 53rd week included in the prior year January as well as the shift in the retail calendar. The Company's comparable sales increased 3.5% for the four-week period ended February 2, 2019 compared to the four-week period ended February 3, 2018. In the prior year, comparable sales increased 6.3% for the five-week period ended February 3, 2018. Fourth quarter 2018 comparable sales increased 3.9% for the thirteen week period ended February 2, 2019 compared to our previous estimate of approximately 3.0%.
Based primarily on stronger than expected sales for the quarter, the Company is increasing guidance and now expects earnings per share between $1.10 and $1.12. This compares to the previous updated guidance for earnings per share between $1.08 and $1.10. Zumiez plans to report February 2019 sales and fourth quarter 2018 results on March 14, 2019.
To hear the Zumiez prerecorded January sales message, please dial (201) 689-8483 or (877) 523-5612, followed by the passcode # 986439 (ZUMIEZ).
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 February 2, 2019, we operated 707 stores, including 608 in the United States, 50 in Canada, 41 in Europe and 8 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.
Safe Harbor Statement
Certain statements in this press release and oral statements relating thereto made from time to time by representatives of the Company may constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. These statements include, without limitation, predictions and guidance relating to the Company's future financial performance, brand and product category diversity, ability to adjust product mix, integration of acquired businesses, growing customer demand for our products and new store openings. In some cases, you can identify forward-looking statements by terminology such as, "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties, which include, without limitation, those described in the Company’s quarterly report on Form 10-Q for the quarter ended November 3, 2018 as filed with the Securities and Exchange Commission and available at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Director of Finance &
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Source: Zumiez Inc