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Zumiez Inc. Announces Fiscal 2024 Fourth Quarter Results

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Zumiez reported Q4 FY2024 results with mixed performance. Net sales decreased 0.9% to $279.2 million, while comparable sales increased 5.9%. The company achieved significant improvement in profitability, posting net income of $14.8 million ($0.78 per share) compared to a net loss of $33.5 million ($1.73 per share) in Q4 FY2023.

For the full fiscal year 2024, total net sales increased 1.6% to $889.2 million, with comparable sales up 4.0%. The company reported a net loss of $1.7 million ($0.09 per share). Cash position stood at $147.6 million as of February 1, 2025.

Looking ahead, Q1 FY2025 quarter-to-date comparable sales are up 4.3%, led by North America at 6.4%. The company expects Q1 net sales between $179-183 million with projected EPS loss of $0.72-0.82. The Board approved a new $25 million stock repurchase program through March 2026.

Zumiez ha riportato i risultati del quarto trimestre dell'anno fiscale 2024 con una performance mista. Le vendite nette sono diminuite dello 0,9% a 279,2 milioni di dollari, mentre le vendite comparabili sono aumentate del 5,9%. L'azienda ha ottenuto un miglioramento significativo nella redditività, registrando un utile netto di 14,8 milioni di dollari (0,78 dollari per azione) rispetto a una perdita netta di 33,5 milioni di dollari (1,73 dollari per azione) nel quarto trimestre dell'anno fiscale 2023.

Per l'intero anno fiscale 2024, le vendite nette totali sono aumentate dell'1,6% a 889,2 milioni di dollari, con vendite comparabili in crescita del 4,0%. L'azienda ha riportato una perdita netta di 1,7 milioni di dollari (0,09 dollari per azione). La posizione di cassa era di 147,6 milioni di dollari al 1° febbraio 2025.

Guardando avanti, le vendite comparabili fino ad oggi per il primo trimestre dell'anno fiscale 2025 sono aumentate del 4,3%, guidate dal Nord America con il 6,4%. L'azienda prevede vendite nette per il primo trimestre tra 179 e 183 milioni di dollari, con una perdita EPS prevista di 0,72-0,82 dollari. Il Consiglio ha approvato un nuovo programma di riacquisto di azioni da 25 milioni di dollari fino a marzo 2026.

Zumiez informó resultados del cuarto trimestre del año fiscal 2024 con un rendimiento mixto. Las ventas netas disminuyeron un 0.9% a 279.2 millones de dólares, mientras que las ventas comparables aumentaron un 5.9%. La compañía logró una mejora significativa en la rentabilidad, reportando un ingreso neto de 14.8 millones de dólares (0.78 dólares por acción) en comparación con una pérdida neta de 33.5 millones de dólares (1.73 dólares por acción) en el cuarto trimestre del año fiscal 2023.

Para el año fiscal completo 2024, las ventas netas totales aumentaron un 1.6% a 889.2 millones de dólares, con ventas comparables en alza del 4.0%. La compañía reportó una pérdida neta de 1.7 millones de dólares (0.09 dólares por acción). La posición de efectivo se situó en 147.6 millones de dólares al 1 de febrero de 2025.

De cara al futuro, las ventas comparables hasta la fecha del primer trimestre del año fiscal 2025 han aumentado un 4.3%, lideradas por América del Norte con un 6.4%. La compañía espera ventas netas para el primer trimestre entre 179 y 183 millones de dólares, con una pérdida de EPS proyectada de 0.72-0.82 dólares. La Junta aprobó un nuevo programa de recompra de acciones de 25 millones de dólares hasta marzo de 2026.

Zumiez는 2024 회계연도 4분기 결과를 혼합된 성과로 보고했습니다. 순매출은 0.9% 감소하여 2억 7920만 달러에 이르렀고, 비교 가능한 매출은 5.9% 증가했습니다. 회사는 수익성에서 상당한 개선을 이루어 순이익 1480만 달러(주당 0.78 달러)를 기록했으며, 이는 2023 회계연도 4분기에서 3350만 달러(주당 1.73 달러)의 순손실과 비교됩니다.

2024 회계연도 전체에 대해 총 순매출은 1.6% 증가하여 8억 8920만 달러에 달했으며, 비교 가능한 매출은 4.0% 증가했습니다. 회사는 170만 달러(주당 0.09 달러)의 순손실을 보고했습니다. 현금 보유액은 2025년 2월 1일 기준으로 1억 4760만 달러였습니다.

앞으로, 2025 회계연도 1분기 현재까지의 비교 가능한 매출은 4.3% 증가했으며, 북미가 6.4%로 주도하고 있습니다. 회사는 1분기 순매출을 1억 7900만 달러에서 1억 8300만 달러 사이로 예상하며, 예상 EPS 손실은 0.72-0.82 달러입니다. 이사회는 2026년 3월까지 2500만 달러 규모의 자사주 매입 프로그램을 승인했습니다.

Zumiez a annoncé des résultats pour le quatrième trimestre de l'exercice fiscal 2024 avec des performances mixtes. Les ventes nettes ont diminué de 0,9 % pour atteindre 279,2 millions de dollars, tandis que les ventes comparables ont augmenté de 5,9 %. L'entreprise a réalisé une amélioration significative de sa rentabilité, affichant un bénéfice net de 14,8 millions de dollars (0,78 dollar par action) par rapport à une perte nette de 33,5 millions de dollars (1,73 dollar par action) au quatrième trimestre de l'exercice fiscal 2023.

Pour l'ensemble de l'exercice fiscal 2024, les ventes nettes totales ont augmenté de 1,6 % pour atteindre 889,2 millions de dollars, avec des ventes comparables en hausse de 4,0 %. L'entreprise a enregistré une perte nette de 1,7 million de dollars (0,09 dollar par action). La position de trésorerie était de 147,6 millions de dollars au 1er février 2025.

Pour l'avenir, les ventes comparables pour le premier trimestre de l'exercice fiscal 2025 sont en hausse de 4,3 %, menées par l'Amérique du Nord avec 6,4 %. L'entreprise prévoit des ventes nettes pour le premier trimestre entre 179 et 183 millions de dollars, avec une perte EPS projetée de 0,72 à 0,82 dollar. Le conseil d'administration a approuvé un nouveau programme de rachat d'actions de 25 millions de dollars jusqu'en mars 2026.

Zumiez hat die Ergebnisse des 4. Quartals des Geschäftsjahres 2024 mit gemischter Leistung veröffentlicht. Die Nettoverkäufe sanken um 0,9 % auf 279,2 Millionen US-Dollar, während die vergleichbaren Verkäufe um 5,9 % stiegen. Das Unternehmen erzielte eine signifikante Verbesserung der Rentabilität und meldete einen Nettoertrag von 14,8 Millionen US-Dollar (0,78 US-Dollar pro Aktie) im Vergleich zu einem Nettoverlust von 33,5 Millionen US-Dollar (1,73 US-Dollar pro Aktie) im 4. Quartal des Geschäftsjahres 2023.

Für das gesamte Geschäftsjahr 2024 stiegen die gesamten Nettoverkäufe um 1,6 % auf 889,2 Millionen US-Dollar, wobei die vergleichbaren Verkäufe um 4,0 % zulegten. Das Unternehmen meldete einen Nettoverlust von 1,7 Millionen US-Dollar (0,09 US-Dollar pro Aktie). Die Liquiditätsposition betrug zum 1. Februar 2025 147,6 Millionen US-Dollar.

Für die Zukunft erwarten die vergleichbaren Verkäufe im ersten Quartal des Geschäftsjahres 2025 bis heute einen Anstieg von 4,3 %, angeführt von Nordamerika mit 6,4 %. Das Unternehmen erwartet Nettoverkäufe im ersten Quartal zwischen 179 und 183 Millionen US-Dollar mit einem prognostizierten EPS-Verlust von 0,72-0,82 US-Dollar. Der Vorstand genehmigte ein neues Aktienrückkaufprogramm über 25 Millionen US-Dollar bis März 2026.

Positive
  • Q4 comparable sales increased 5.9%
  • Gross margin improved 190 basis points to 36.2%
  • Q4 net income improved to $14.8M from -$33.5M year-over-year
  • First quarter-to-date comparable sales up 4.3%
  • North America showing strong performance with 6.4% comparable sales growth
  • New $25M stock buyback program approved
Negative
  • Q4 net sales decreased 0.9% to $279.2M
  • Cash position declined to $147.6M from $171.6M year-over-year
  • Full-year net loss of $1.7M in fiscal 2024
  • International comparable sales decreased 3.7% in recent trading
  • Projecting Q1 2025 loss between $0.72-0.82 per share

Insights

Zumiez's Q4 results demonstrate substantial financial improvement with the 190 basis point gross margin expansion driving a profit of $0.78 per share compared to last year's $1.73 loss. This dramatic bottom-line enhancement indicates successful execution of the company's profitability-focused strategy. The narrowing of the full-year loss to just $0.09 per share from $3.25 showcases consistent progress throughout fiscal 2024.

The $25 million share repurchase authorization is particularly notable given the company's $253 million market cap - representing nearly 10% of total market value - and signals management's confidence in sustained cash generation despite maintained capital expenditures. While cash reserves decreased from $171.6 million to $147.6 million, this appears to be a deliberate capital allocation decision rather than operational weakness.

The Q1 projected loss of $0.72-$0.82 per share reflects typical seasonality in the specialty retail sector rather than deteriorating business fundamentals. With three consecutive quarters of positive comparable sales and significant margin improvement, Zumiez appears to be executing a successful financial recovery despite ongoing market challenges.

The 5.9% comparable sales growth in Q4 represents significant momentum in Zumiez's core operations, particularly impressive given the challenging specialty retail landscape. The regional performance divergence is telling - North America's robust 6.4% current comp sales growth contrasts sharply with international markets' 3.7% decline, validating management's decision to focus expansion primarily in North America (6 of 9 planned new stores).

The company's disciplined approach to store growth - adding just 9 locations to its 729-store base - demonstrates a strategic shift from expansion to optimization. Zumiez's focus on "product and customer engagement initiatives" appears to be resonating with its target demographic of young consumers seeking unique lifestyle merchandise.

The specialty retailer's ability to grow comparable sales by 4.0% for the full year while improving profitability metrics suggests successful adaptation to evolving consumer preferences in the challenging apparel and footwear segments. The company's clear pivot toward North American operations, where performance is strongest, should help maintain positive momentum through 2025.

Fourth Quarter Comparable Sales Increased 5.9%
Fourth Quarter Gross Margin Increased 190 Basis Points to 36.2%
Fourth Quarter Earnings Per Share Improved to $0.78 from ($1.73)
First Quarter-To-Date Comparable Sales up 4.3%, Led by North America Up 6.4%
Board Approves New Stock Repurchase Authorization

LYNNWOOD, Wash., March 13, 2025 (GLOBE NEWSWIRE) -- Zumiez Inc. (NASDAQ: ZUMZ) a leading specialty retailer of apparel, footwear, equipment and accessories for young men and women, today reported results for the fourth quarter and year ended February 1, 2025.

Net sales for the fourth quarter ended February 1, 2025 (13 weeks) decreased 0.9% to $279.2 million from $281.8 million in the fourth quarter ended February 3, 2024 (14 weeks). Comparable sales for the thirteen weeks ended February 1, 2025 increased 5.9%. Net income in the fourth quarter of fiscal 2024 was $14.8 million, or $0.78 per share, compared to a net loss of $33.5 million, or $1.73 per share, in the fourth quarter of the prior fiscal year. Fiscal 2023 fourth quarter results reflect a goodwill impairment charge of $41.1 million, or $2.13 per share after-tax, related to the Company’s decision to slow store growth and focus on profitability in Europe and the corresponding impact on the future cash flow projections of its Blue Tomato business.

Total net sales for the twelve months (52 weeks) ended February 1, 2025, increased 1.6% to $889.2 million from $875.5 million reported for the twelve months (53 weeks) ended February 3, 2024. Comparable sales increased 4.0% for fifty-two weeks ended February 1, 2025. Net loss for fiscal 2024 was $1.7 million, or $0.09 per share. Net loss for fiscal 2023 inclusive of the $41.1 million goodwill impairment charge was $62.6 million, or $3.25 per share.

As of February 1, 2025, the Company had cash and current marketable securities of $147.6 million compared to cash and current marketable securities of $171.6 million as of February 3, 2024. The decrease was primarily driven by share repurchases and capital expenditures partially offset by cash flow from operations.

Rick Brooks, Chief Executive Officer of Zumiez Inc., stated, “We delivered a substantial improvement in fourth quarter operating profitability driven by significant gross margin expansion and a meaningful reduction in operating expenses. Comparable sales increased by 5.9% led by North America and while choppy, represents continued progress in growing the top-line and bottom line. This unexpected choppiness is indicative of the environment we have been operating in for some time, and we expect it will continue. Our plan for 2025 is to stay the course and focus on executing the product and customer engagement initiatives that have fueled our third consecutive quarter of positive comps while staying nimble and financially flexible to deliver enhanced profitability. We have demonstrated our ability to navigate challenging cycles and emerge stronger and I am confident that Zumiez is on right course to repeat this accomplishment once again.”

Fiscal First Quarter-to-Date Sales
Total first quarter-to-date sales for the four weeks ended March 1, 2025 increased 1.7%, from the four weeks ended March 2, 2024. Comparable sales for the four weeks ended March 1, 2025 increased 4.3% from the four weeks ended March 2, 2024. From a regional perspective, comparable sales for North America increased 6.4% and other international comparable sales decreased 3.7%.

Fiscal 2025 First Quarter Outlook
The Company is introducing guidance for the three months ending May 3, 2025. Net sales are projected to be in the range of $179 to $183 million. Earnings per share are expected to be between a loss of $0.72 and a loss of $0.82.

The Company currently intends to open approximately 9 new stores in fiscal 2025, including up to 6 stores in North America, 2 stores in Europe and 1 store in Australia.

Stock Repurchase Authorization
On March 12, 2024, Zumiez Inc. approved the repurchase of up to an aggregate of $25 million of common stock. The repurchase program is expected to continue through March 31, 2026 unless the time period is extended or shortened by the Board of Directors.

Conference call Information
To access the conference call, please pre-register using this link (Registration Link) Registrants will receive confirmation with dial-in details. The conference call will also be available to interested parties through a live webcast at https://ir.zumiez.com. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at https://ir.zumiez.com.

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 March 1, 2025, we operated 729 stores, including 569 in the United States, 46 in Canada, 87 in Europe and 27 in Australia. We operate under the names Zumiez, Blue Tomato and Fast Times. Additionally, we operate ecommerce web sites at zumiez.com, zumiez.ca, 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 annual report on Form 10-K for the fiscal year ended January 28, 2023 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.


ZUMIEZ INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)
 
  Three Months Ended
  February 1, % of February 3, % of
  2025  Sales  2024  Sales
  (Unaudited)   (Unaudited)  
Net sales$279,160   100.0%  281,822   100.0%
Cost of goods sold 178,127   63.8%  185,171   65.7%
Gross profit 101,033   36.2%  96,651   34.3%
Selling, general and administrative expenses 80,903   29.0%  129,436   45.9%
Operating profit (loss) 20,130   7.2%  (32,785)  -11.6%
Interest income, net 742   0.3%  941   0.3%
Other (expense) income , net (915)  -0.3%  545   0.2%
Earnings (loss) before income taxes 19,957   7.2%  (31,299)  -11.1%
Provision for income taxes 5,203   1.9%  2,188   0.8%
Net income (loss)$14,754   5.3% $(33,487)  -11.9%
Basic earnings (loss) per share$0.80    $(1.73)  
Diluted earnings (loss) per share$0.78    $(1.73)  
Weighted average shares used in computation of earnings per share:      
Basic 18,464     19,323   
Diluted 18,806     19,323   
         
         
  Fiscal Year Ended
  February 1, % of February 3, % of
  2025  Sales  2024  Sales
  (Unaudited)      
Net sales$889,202   100.0% $875,486   100.0%
Cost of goods sold 586,162   65.9%  594,596   67.9%
Gross profit 303,040   34.1%  280,890   32.1%
Selling, general and administrative expenses 301,090   33.9%  345,679   39.6%
Operating profit (loss) 1,950   0.2%  (64,789)  -7.4%
Interest income, net 4,205   0.5%  3,522   0.4%
Other expense, net (2,078)  -0.2%  (611)  -0.1%
Earnings (loss) before income taxes 4,077   0.5%  (61,878)  -7.1%
Provision for income taxes 5,790   0.7%  732   0.1%
Net income$(1,713)  -0.2% $(62,610)  -7.2%
Basic earnings per share$(0.09)   $(3.25)  
Diluted earnings per share$(0.09)   $(3.25)  
Weighted average shares used in computation of earnings per share:      
Basic 18,918     19,290   
Diluted 18,918     19,290   



ZUMIEZ INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
 
 February 1, 2025 February 3, 2024
 (Unaudited)  
Assets   
Current assets   
Cash and cash equivalents$112,668  $88,875 
Marketable securities 34,890   82,704 
Receivables 12,825   13,780 
Inventories 146,648   128,827 
Prepaid expenses and other current assets 15,354   12,401 
Total current assets 322,385   326,587 
Fixed assets, net 80,178   90,508 
Operating lease right-of-use assets 183,235   196,775 
Goodwill 15,258   15,374 
Intangible assets, net 13,577   14,200 
Deferred tax assets, net 8,684   8,623 
Other long-term assets 11,564   12,159 
Total long-term assets 312,496   337,639 
Total assets$634,881  $664,226 
    
Liabilities and Shareholders’ Equity   
Current liabilities   
Trade accounts payable$49,389  $38,885 
Accrued payroll and payroll taxes 21,962   18,431 
Operating lease liabilities 56,009   60,885 
Other current liabilities 28,154   25,886 
Total current liabilities 155,514   144,087 
Long-term operating lease liabilities 143,812   159,877 
Other long-term liabilities  6,578   7,052 
Total long-term liabilities 150,390   166,929 
Total liabilities 305,904   311,016 
    
Shareholders’ equity   
Preferred stock, no par value, 20,000 shares authorized; none issued and outstanding     
Common stock, no par value, 50,000 shares authorized; 19,159 shares issued and outstanding at February 1, 2025 and 19,833 shares issued and outstanding at February 3, 2024 203,581   196,144 
Accumulated other comprehensive loss (23,778)  (19,027)
Retained earnings 149,174   176,093 
Total shareholders’ equity 328,977   353,210 
Total liabilities and shareholders’ equity$634,881  $664,226 



ZUMIEZ INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
 
 Fiscal Year Ended
 February 1, 2025 February 3, 2024
 (Unaudited)  
Cash flows from operating activities:   
Net (loss) income$(1,713) $(62,610)
Adjustments to reconcile net income to net cash (used in) provided by operating activities:   
Depreciation, amortization and accretion 22,160   22,763 
Noncash lease expense 64,415   68,164 
Deferred taxes (609)  (1,050)
Stock-based compensation expense 6,831   7,022 
Impairment of goodwill and long-lived assets 1,473   43,904 
Foreign currency transaction loss 2,145   25 
Other 178   181 
Changes in operating assets and liabilities: -   - 
Receivables 1,533   6,859 
Inventories (21,687)  5,809 
Prepaid expenses and other assets 1,558   (1,817)
Trade accounts payable 11,698   (907)
Accrued payroll and payroll taxes 3,768   2,170 
Income taxes payable 4,705   2,090 
Operating lease liabilities (73,564)  (78,983)
Other liabilities (2,190)  1,135 
Net cash provided by (used in) operating activities 20,701   14,755 
Cash flows from investing activities:   
Additions to fixed assets (15,004)  (20,350)
Purchases of marketable securities and other investments (2,980)  (38,348)
Sales and maturities of marketable securities and other investments 50,586   50,150 
Net cash provided by (used in) investing activities 32,602   (8,548)
Cash flows from financing activities:   
Proceeds from revolving credit facilities 3,220   49,440 
Payments on revolving credit facilities (3,220)  (49,440)
Proceeds from issuance and exercise of stock-based awards 606   704 
Payments for tax withholdings on equity awards     
Common stock repurchased (25,206)   
Net cash (used in) provided by financing activities (24,600)  704 
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (1,458)  (1,080)
Net change in cash, cash equivalents, and restricted cash 27,245   5,831 
Cash, cash equivalents, and restricted cash, beginning of period 94,284   88,453 
Cash, cash equivalents, and restricted cash, end of period$121,529  $94,284 
Supplemental disclosure on cash flow information:   
Cash paid during the period for income taxes$2,490  $2,065 
Accrual for purchases of fixed assets 109   800 


Company Contact:
Darin White
Vice President of Finance &
Investor Relations
Zumiez Inc.
(425) 551-1500, ext. 1337

Investor Contact:
ICR
Brendon Frey
(203) 682-8200


FAQ

What was Zumiez (ZUMZ) comparable sales growth in Q4 2024?

Zumiez reported a 5.9% increase in comparable sales for Q4 2024.

How much is Zumiez's new stock buyback program worth and when does it expire?

Zumiez approved a $25 million stock repurchase program, running through March 31, 2026.

What are Zumiez's (ZUMZ) Q1 2025 earnings guidance figures?

Zumiez expects Q1 2025 net sales of $179-183 million with EPS loss between $0.72 and $0.82.

How many stores does Zumiez operate globally as of March 2025?

Zumiez operates 729 stores globally: 569 in US, 46 in Canada, 87 in Europe, and 27 in Australia.

What was Zumiez's Q4 2024 gross margin performance?

Zumiez's gross margin increased 190 basis points to 36.2% in Q4 2024.
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256.35M
15.15M
20.83%
81.87%
5.85%
Apparel Retail
Retail-apparel & Accessory Stores
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United States
LYNNWOOD