Zumiez plans 50 new stores as Q2 sales rise 20%
04/09/2012
The growth was primarily driven by its merchandise, store expansion and e-commerce strategies, according to the US company, which specialises in snowboard and skateboard wear.
However, the growth in sales did not translate into a growth in profitability – net income declined 19% from $2.59 million in the second quarter last year to $2.1 million.
Its management said it expects third-quarter revenues to be in the range of $181 million to $185 million, forecasting a 3% to 5% growth in comparable store sales.
It is planning to open 50 stores in the coming year, 10 of which will be in Canada.
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