Zumiez Inc. Reports Holiday 2020 Sales Results and Announces Participation in 2021 ICR Conference

Rhea-AI Summary

Zumiez Inc. announced a 1.7% increase in comparable sales for the ten-week period ending January 9, 2021, compared to the same period last year. Despite this growth, total sales decreased by 0.7% due to COVID-19 related restrictions. North America saw a 0.2% increase in net sales, while other international markets faced a 6.7% decline. The Hardgoods category led the sales increase, while Footwear had the largest drop. CEO Rick Brooks expressed confidence in the company's ability to navigate challenges and continue gaining market share.

Positive

• Comparable sales increased by 1.7% year-over-year for Q4-to-date.
• North America net sales increased by 0.2% despite challenges.
• Solid performance in the Hardgoods category driven by strong sales.

Negative

• Total sales decreased by 0.7% due to COVID-19 restrictions.
• Other international net sales decreased by 6.7%, with Europe hit hardest.
• Footwear category experienced the largest decline in comparable sales.

Fourth Quarter-to-Date Comparable Sales through January 9th increased 1.7%

LYNNWOOD, Wash., Jan. 11, 2021 (GLOBE NEWSWIRE) -- Zumiez Inc. (NASDAQ: ZUMZ) a leading specialty retailer of apparel, footwear, equipment and accessories for young men and women, today announced that the Company's comparable sales increased 1.7% for the ten-week period ended January 9, 2021 compared to the ten-week period ended January 11, 2020. During the same period total sales decreased 0.7% impacted by required governmental closures and other restrictions associated with the COVID-19 Pandemic.

From a regional perspective, quarter-to-date North America net sales increased 0.2% with the U.S. up slightly while Canada was significantly impacted by store closures. Other international net sales, which consists of Europe and Australia, decreased 6.7% with Europe being the hardest hit by store closures and Australia performing extremely well during the holiday period. Excluding the impact of foreign currency translation, North America net sales increased 0.1% and other international net sales decreased 14.2% quarter-to-date.

During the ten-week period, the Hardgoods category provided our largest comparable sales increase followed by Accessories. Footwear was our largest negative comping category followed by Womens and Mens.

Rick Brooks, Chief Executive Officer of Zumiez Inc., stated, “We continue to be impressed with our team’s ability to perform well under very difficult retail conditions. Similar to the trends we experienced around Black Friday in November, sales in the off-peak weeks in December were very strong, while the usual peak weeks that are heavily reliant on in-store sales were more challenged with less traffic and various COVID-19 restrictions. For the 10 week period, our stores were open for approximately 95% of the potential operating days with our most significant closures in Europe and Eastern Canada. In light of these headwinds, we are pleased that comparable sales were up 1.3% in December and have been up double digits thus far in January signaling a strong final month of the year. Given our momentum, solid financial position, and relatively strong performance through these highly challenging times, we remain confident in our ability to continue to gain share and drive long-term shareholder value.”

2021 ICR Conference

The Company also announced it is participating in the 2021 ICR Conference. The webcast presentation is scheduled for Wednesday, January 13, 2021 at 10:30 am Eastern Time. The live webcast can be accessed via the investor relations page of Zumiez website at http://ir.zumiez.com. To listen to the live webcast, visit the Zumiez website at least 10 minutes in advance to download and install any necessary audio software.

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 January 11, 2021 we operated 728 stores, including 608 in the United States, 52 in Canada, 55 in Europe and 13 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.

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

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

FAQ

What were Zumiez's comparable sales for the ten-week period ending January 9, 2021?

Zumiez reported a 1.7% increase in comparable sales for the ten-week period ending January 9, 2021.

How did COVID-19 affect Zumiez's total sales during this period?

Total sales decreased by 0.7% due to restrictions related to COVID-19.

What was the performance of Zumiez in North America during the recent sales period?

North America net sales increased by 0.2% during the ten-week period.

Which category had the largest sales increase for Zumiez?

The Hardgoods category provided the largest comparable sales increase.

What challenges did Zumiez face in international markets?

Other international net sales decreased by 6.7%, significantly impacted by store closures, especially in Europe.