Zumiez announces 2016 expansion plans
Zumiez a leading specialty retailer of apparel, footwear, accessories and hardgoods for men and women announced plans to open seven Canadian locations in 2016 in its most recent financial report.
The American retailer stated for its 2016 outlook that it intends to open approximately 34 new stores during its 2016 fiscal year, including up to seven stores in Canada and seven stores in Europe.
Zumiez total net sales for the 2015 fiscal year saw a decrease of 0.9 percent to $804.2 million from $811.6 million seen the previous year. Net income was also severely impacted by a decrease of 33.4 percent to $28.8 million, or $1.04 per diluted share compared to net income in the prior fiscal year of $43.2 million, or $1.47 per diluted share.
The company anticipates that the first quarter of 2016 will also see a net loss.
Most recently, this month, Zumiez opened a store in Vancouver.
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