“Sales trends accelerated as the first quarter progressed driven by our ability to capture a meaningful share of the heightened discretionary spending in the U.S. related to government stimulus, especially in our stores, as customers are becoming increasingly comfortable returning to in-person shopping,” management said in the announcement.
Zumiez posted $26.4 million in net income for Q1 fiscal 2021 or $1.03 per diluted share, swinging from a net loss of $21.1 million or 84 cents per diluted share in Q1 of the prior fiscal year. The retailer reported that net income for Q1 2019 was 3 cents per diluted share.
Zumiez also reported that net sales for the four weeks concluding on May 29, 2021 climbed by approximately 42 percent from the four weeks concluding on May 30, 2020, and climbed approximately 31percent from the four weeks concluding on June 1, 2019.
