Zumiez Q4 profit nearly doubles, to open 44 stores
Everett, Wash. — Zumiez reported Thursday that net income for the quarter ended Jan. 29 almost doubled to $15 million, compared with net income of $8.8 million in the year-ago period.
Sales increased 17.9% to $156.2 million, from $132.4 million. Same-store sales increased 13 %.
For the full year, sales rose 17.5% to $478.8 million, from $407.6 million. Profit rose to $24.2 million, from $9.1 million in fiscal 2009.
Same-store sales increased 11.9% in fiscal 2010.
Zumiez said it plans to open approximately 44 new stores in fiscal 2011, including its first stores in Canada.
Women now majority on Walmex board
Shareholders of Wal-Mart de Mexico elected three new female board members at the company’s annual meeting yesterday, bringing to six the number of women on the company’s eleven-member board.
The new members include Shelley Broader, chief merchandising officer of Walmart Canada, Olga Gonzalez, Walmart’s VP audit services for Latin America and Kristin Oliver, SVP people for the Walmart International division. Other women on the board include Cathy Smith, Blanca Trevino and Kristin Oliver.
By comparison, the Wal-Mart Stores Inc., board of directors has 15 members and only three are female.
Walmart makes multichannel move with same-day service
BENTONVILLE, Ark. — An online order and same-day pick up service will be expanded to all Walmart stores beginning this month, the company announced. The “Pick-Up Today” service allows shoppers who make a purchase online to pick up their merchandise within about four hours if the order is placed before 6 p.m. Orders place after that time are available for pick up the next day before 10 a.m.
“We’ve seen strong customer response from initial tests of ‘Pick Up Today,’ and we’re pleased to expand the program,” said Steve Nave, SVP and general manager of Walmart.com. “Walmart is uniquely positioned to combine the power of eCommerce with our national retail footprint to offer a leading, multichannel experience that delivers the best savings and convenience to our customers.”
In conjunction with the national rollout, product categories eligible for the program have been expanded and will included roughly 40,000 items such categories as baby, toys, home décor, hardware, outdoor living, electronics, household appliances and video games.
The initiative is the latest development in a multichannel strategy that has been in the works for more than five years. That’s how long it has been since the company first introduced its Site-to-Store service, which offers free delivery to stores of goods ordered online. The service has been a big win for Walmart because it is able to sell merchandise to shoppers that aren’t normally available in stores, and goods are usually available for pick up within four to seven days. While customers are the beneficiary of the free delivery, the advantage from Walmart’s perspective is they tend to spend additional dollars when they pick up their order.
With Site-to-Store and Pick Up Today Walmart is leveraging its existing store base, but an even more intriguing opportunity exists with a pilot program that allows online customers to have their orders shipped to a FedEx store location for pickup. The test program is designed to appeal to customers in select metro markets who don’t have convenient access to a Walmart store.