Categories: Life Style

Zumiez Q3 FY20 gross sales up 2.6% to $271 mn


Zumiez, a specialty retailer of attire, footwear and equipment, has reported 2.6 per cent enhance in its whole gross sales to $271.zero million throughout third quarter (Q3) fiscal 2020 ended on October 31, in comparison with gross sales of $264.zero million in the identical interval final yr. Firm’s web earnings for the quarter rose to $29.1 million (Q3 FY19: $19.1 million).

“We as soon as once more efficiently navigated unstable market situations and drove robust earnings development. Following a difficult begin to the third quarter as a result of delayed begin to again to highschool, gross sales have been constructive in each September and October as we capitalized on late season demand,” Rick Brooks, chief government officer of Zumiez, mentioned in a press launch.

Gross revenue for the quarter was $105.eight million ($94.5 million). Promoting, normal and administrative bills have been right down to $67.9 million ($70.2 million). Working revenue for Q3 FY20 elevated to $37.eight million ($24.three million).

As a consequence of retailer closures, firm acknowledged that shops have been open for roughly 95 per cent of the Q3 FY20 measured as the overall variety of retailer days open within the quarter divided by the overall variety of retailer days obtainable.

“Whereas there may be nonetheless uncertainty round how the rest of the vacation season will unfold, we imagine we’re positioned effectively to satisfy the shopper’s expectations and drive worth for the long-term,” Brooks mentioned.

Fibre2Fashion Information Desk (JL)

Zumiez, a specialty retailer of attire, footwear and equipment, has reported 2.6 per cent enhance in its whole gross sales to $271.zero million throughout third quarter (Q3) fiscal 2020 ended on October 31, in comparison with gross sales of $264.zero million in the identical interval final yr. Firm’s web earnings for the quarter rose to $29.1 million (Q3 FY19: $19.1 million).

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