Zumiez swings to profit, to open 44 stores
Everett, Wash. -- Zumiez reported Thursday net income of $1.9 million in the first quarter, compared with a loss of $1.9 million in the year-ago period. The retailer said it plans to open 44 new stores in fiscal 2011, including its first stores in Canada.
The results for the first quarter of fiscal 2010 include costs of approximately $1.2 million associated with the relocation of the company's distribution center from Everett, Wash., to Corona, Calif.
Revenue rose 18.8% to $105.9 million, from $89.1 million a year ago. Same-store sales increased 12.6%.