Zumiez’s net loss improves amid back to school season

(Source: Zumiez/Facebook)

Zumiez‘s net loss improved in the fiscal second quarter, attributed to the back to school season and a shift in the retail calendar, which positively affected sales.

The clothing retailer’s net loss stood at $800,000 as net sales grew 8.1 per cent year over year to $210.2 million and comparable sales rose 3.6 per cent.

“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 digit,” said Rick Brooks, Zumiez CEO.

“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.”

Meanwhile, fiscal third quarter-to-date net sales for the 30 days ending September 2 grew 6.8 per cent.

The company forecasts net sales of $221 million to $225 million for the fiscal third quarter, up 2 per cent to 4 per cent.

Zumiez intends to open about nine new stores in the fiscal year, with three stores in North America, three in Europe, and three in Australia.

With the planned openings, the company expects to end the fiscal year with about 25 stores.

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