Zumiez records record Q1, 50 stores on tap for 2012
Everett, Wash. — Action sports retailer Zumiez Inc. reported Thursday that profit surged 140% to $4.5 million for the quarter ended April 28, compared with $1.9 million for the year-ago period.
Revenue rose 22.7% to $129.9 million from $105.9 million, and same-store sales climbed 12.9%.
The company said it plans to open 50 stores in fiscal 2012, including up to 10 locations in Canada.
Gap Q1 profit beats Street
San Francisco — Gap Inc. said Thursday that profit for the quarter ended April 28 was flat compared with the year-ago period, but its results beat Wall Street forecasts and prompted the retailer to raise its outlook for the year.
Gap reported a profit of $233 million for the first quarter. Revenue rose 6% to $3.49 billion, beating analysts’ estimated $3.46 billion in revenue, and same-store sales rose 4%.
“During the quarter, we improved sales, grew earnings per share, and continued investing in the business to drive performance,” said Glenn Murphy, chairman and CEO of Gap Inc. “We’re pleased with the progress we’re making against our 2012 priorities in both our domestic business and global growth initiatives.”
The company said it expects net openings of about 15 company-operated stores and about 50 to 75 franchise stores during fiscal year 2012.
Aeropostale profit down 65%
New York — Aeropostale said Thursday that net income for the first quarter narrowed to $10.6 million, from $16.4 million in the same period last year.
Sales for the quarter ended April 28 rose 6% to $497.2 million, from $469.2 million, and same-store sales edged up 2% on the strength of its online performance. Without e-commerce results, same-store sales for the quarter were flat.