Zumiez, a specialty retailer of action sports related apparel, footwear, equipment and accessories, has reported a net income of $5.1 million, or $0.17 per diluted share, for the third quarter ended October 31, 2009, compared to $6.8 million, or $0.23 per diluted share, for the third quarter of fiscal 2008.
For the third quarter of fiscal 2009, total net sales increased 0.8% to $113.2 million from $112.2 million for the third quarter of fiscal 2008.
For the first nine months of fiscal 2009, total net sales decreased 2.8% to $275.2 million from $283.2 million for the same period of fiscal 2008. Net income was $0.3 million, or $0.01 per diluted share, compared to $10.9 million, or $0.37 per diluted share, for the corresponding period of fiscal 2008.
Rick Brooks, CEO of Zumiez, said: "I want to credit our entire team for our better than expected third quarter performance. By carefully managing our inventory, working closely with our branded and private label vendors to design programs that would deliver improved merchandise margins, and finding ways to inspire consumers who visited our stores, we were able to exceed our initial third quarter expectations and saw a meaningful improvement in our same store sales trends relative to the first half of fiscal 2009."