US specialty retailer Zumiez reports FY20 sales of $991 mn

Zumiez, a US-based specialty retailer of apparel, footwear and accessories, has reported 4.2 per cent sales decline to $990.7 million during its fiscal 2020 ended on January 30, 2021 compared to the sales of $1.0 billion in the previous fiscal. The company’s net income for the year rose 14 per cent to $76.2 million (FY19: $66.9 million).

 

Zumiez, a US-based specialty retailer of apparel, footwear and accessories, has reported 4.2 per cent sales decline to $990.7 million during its fiscal 2020 ended on January 30, 2021 compared to the sales of $1.0 billion in the previous fiscal. The company's net income for the year rose 14 per cent to $76.2 million (FY19: $66.9 million). #

“We are extremely proud of how our organisation executed during a year of significant and unfamiliar challenges. Our one channel approach to retail and relentless focus on serving the consumer allowed to us to achieve annual sales close to fiscal 2019 levels and record profitability despite our stores around the world being closed for approximately 22 per cent of the possible operating days,” Rick Brooks, chief executive officer of Zumiez, said in a press release.

 

Zumiez, a US-based specialty retailer of apparel, footwear and accessories, has reported 4.2 per cent sales decline to $990.7 million during its fiscal 2020 ended on January 30, 2021 compared to the sales of $1.0 billion in the previous fiscal. The company's net income for the year rose 14 per cent to $76.2 million (FY19: $66.9 million). #

Gross profit for FY20 was $350.0 million ($366.5 million), while operating profit was $96.9 million ($85.8 million).

 

Zumiez, a US-based specialty retailer of apparel, footwear and accessories, has reported 4.2 per cent sales decline to $990.7 million during its fiscal 2020 ended on January 30, 2021 compared to the sales of $1.0 billion in the previous fiscal. The company's net income for the year rose 14 per cent to $76.2 million (FY19: $66.9 million). #

“Our recent performance, including during the holiday season, has strengthened our operation and financial foundation and enhanced our competitive advantages. While the near-term environment is likely to remain volatile due to uncertainty surrounding the virus, we believe we are well positioned with a strong balance sheet and differentiated strategies to further expand our global market share and continue generating meaningful value for our shareholders in the years ahead,” Brooks said.