Zumiez Inc. reported its financial results for the first quarter of fiscal 2025, ending May 3, 2025, revealing a net sales increase of 3.9% to $184.3 million, compared to $177.4 million in the same period last year. The growth was primarily driven by a $10.2 million increase in comparable sales in North America, despite the closure of 21 stores since May 2024. Gross profit also rose to $55.3 million, a 6.6% increase from $51.9 million, with gross profit as a percentage of net sales improving to 30.0% from 29.3% in the prior year.
The company's operating loss for the quarter was $19.9 million, slightly improved from a loss of $20.2 million in the previous year. Selling, general, and administrative expenses increased to $75.2 million, up from $72.1 million, largely due to a $2.9 million litigation settlement. The net loss for the quarter was $14.3 million, or $0.79 per diluted share, compared to a net loss of $16.8 million, or $0.86 per diluted share, in the same quarter of the previous year.
Zumiez's balance sheet as of May 3, 2025, showed total assets of $599.1 million, down from $634.9 million at the end of the previous fiscal period. Current assets decreased to $281.2 million, primarily due to a reduction in cash and cash equivalents, which fell to $62.5 million from $112.7 million. Total liabilities also decreased to $300.6 million from $305.9 million, reflecting a reduction in current liabilities.
The company continues to focus on strategic growth, planning to open approximately nine new stores in fiscal 2025 while remodeling existing locations. Zumiez has also implemented a share repurchase program, utilizing the full $25 million authorized to repurchase common stock. Looking ahead, the company anticipates spending between $14 million and $16 million on capital expenditures, primarily for new store openings and remodels, while maintaining a cautious outlook due to ongoing economic uncertainties and competitive pressures in the retail sector.
About Zumiez Inc
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.