Zumiez Q2 net income; 56 new stores planned

Lynnwood, Wash. – Zumiez Inc. enjoyed strong financial performance in the second quarter of fiscal 2014, including a 57% hike in net income to $7.5 million from $4.7 million in the same quarter a year earlier. Net sales increased 12% to $176.7 million from $157.9 million, and same-store sales grew 3.4%.



A shift from net operating expense to income helped drive the net income increase. Zumiez plans to open 56 stores in fiscal 2014, including seven in Canada and six in Europe.



For the third quarter, net sales are projected to be in the range $207 million to $211 million, resulting in net income per diluted share of approximately $0.47 to $0.50.



"We are pleased with our second quarter performance,” said Rich Brooks, CEO. “Our ability to connect consumers with our unique assortment of brands drove higher than expected sales which allowed us to better leverage our expense.”