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%.
Limited Brands Q1 net income up 47%
Columbus, Ohio — Limited Brands reported Wednesday that strong sales boosted its first-quarter profit to $165.2 million, up 47% over its prior-year profit of $112.5 million. The company warned that rising costs will hurt its margins this year.
The parent of Bath and Body Works, Victoria’s Secret and La Senza previously reported a revenue increase of 15% to $2.22 billion. Same-store sales rose 15%.
Aeropostale profit plummets in Q1
New York City – Aeropostale reported Thursday that net income for the first quarter decreased 64% to $16.4 million, compared to $45.4 million last year.
Revenue rose 1% to $469.2 million, from $463.6 million. Same-store sales decreased 7%.
The company opened nine Aeropostale and seven P.S. from Aeropostale stores, and closed one Aeropostale store during the quarter.