Zumiez increases sales and earnings in Q4

Zumiez Inc. net sales for the fourth quarter increased 4.6 percent to 346.7 million dollars. Compared to the fourth quarter 2021 net sales increased 5.5 percent. Net income was 38.2 million dollars or 1.70 dollars per diluted share compared to 42.8 million dollars or 1.68 dollars per diluted share, in the fourth quarter of the prior fiscal year. Net income for the fourth quarter of 2019 was 37.9 million dollars or 1.48 dollars per diluted share. Total net sales for fiscal 2021 increased 19.5 percent to 1,183.9 million dollars. Compared to fiscal 2019, net sales increased 14.5 percent. Net income for the year was 119.3 million dollars or 4.85 dollars per diluted share compared to 76.2 million dollars or 3 dollars per diluted share and compared to net income for fiscal 2019 of 66.9 million dollars or 2.62 dollars per diluted share. Commenting on the results, Rick Brooks, chief executive officer of Zumiez, stated: “Fiscal 2021 was a year of tremendous growth and record profitability for Zumiez. Our multi-year success is directly attributable to the execution of the long-term consumer centric growth strategy the company has been building and evolving since its inception.” Zumiez first quarter-to-date sales decrease 1.9 percent Total first quarter-to-date sales for the 35 days ended March 5, 2022 decreased 1.9 percent. Given the positive impact of stimulus on net sales in the first quarter of fiscal 2021 and the current economic uncertainty, the company anticipates that net sales for the first quarter of fiscal 2022 will be between 215 million dollars and 221 million dollars, down from the prior year. Earnings per diluted share for the quarter are expected to be break-even to positive 10 cents per diluted share. The company currently intends to open approximately 34 new stores in fiscal 2022, including up to 15 stores in North America, 14 stores in Europe and five stores in Australia.
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