Weak first quarter at Zumiez
22/05/2009
Total net sales for the first quarter fell 2.4% to $76.8 million compared with $78.7 million in the first quarter of 2008. The company posted a net loss of $1.7 million for the quarter versus net income of $1.4 million in the first quarter of the previous year.
“While the ongoing recession continues to pressure sales we were able to deliver first quarter results that exceeded our projections driven primarily by stronger than expected product margins,” stated chief executive officer, Rick Brooks. “Given the relative tough comparisons we are up against through August we remain cautious about our near-term prospects, however we believe that our unique concept and strong balance sheet have us well positioned to further expand our market share as the consumer environment improves.”
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