Zumiez Inc reported results for the first quarter ended April 29, 2006.
Highlights:
-- Q1-06 Net Sales Increased 43.2 percent to $47.8 Million;
-- Comparable Store Sales Increased 19.7 percent in First Quarter;
-- Net Income Increased to $1.1 Million in First Quarter;
-- Q1-06 Diluted EPS Increased $0.04;
-- Company Raises Fiscal 2006 EPS Guidance to $0.65 to $0.66 on Post-Split Basis.
Total net sales for the first quarter (13 weeks) ended April 29, 2006 increased by 43.2 percent to $47.8 million from $33.4 million reported in the first quarter (13 weeks) of the prior fiscal year.
The company posted net income for the quarter of $1.1 million or $0.04 per diluted share versus a net loss of $40,000 or breakeven per diluted share in the first quarter of the prior fiscal year. Comparable store sales increased 19.7 percent for the first quarter of fiscal 2006 compared to 12.1 percent in the first quarter of fiscal 2005.
Rick Brooks, President and Chief Executive Officer of Zumiez Inc., stated, "We are pleased to report our results for the first quarter, which once again exceeded expectations. Our comparable store increase of 19.7 percent was driven by double digit increases in same store transactions and an increase in average unit retail"
Mr. Brooks continued, "We opened 5 new stores in the quarter and remain on track to open 42 stores this year. In addition, the consummation of our recently announced agreement to acquire Fast Forward will give us an additional 19 stores in desirable locations for Zumiez. We are thrilled to be working with the team at Fast Forward and are working together towards making the integration of our companies seamless."
marketing@alchempro.com
