The following is a summary of the Zumiez Inc. (ZUMZ) Q2 2024 Earnings Call Transcript:
Financial Performance:
Q2 2024 ended with total sales of $210 million, an 8% increase from the previous year.
Gross margin percentage was 34.2%, up from 31.7% in Q2 2023.
Q2 operating loss was reduced to $0.4 million from a loss of $10.5 million last year, showing improved operational efficiency.
Business Progress:
Launched over 100 new brands in 2022 and over 150 in 2023, with plans to maintain similar levels in 2024, contributing to revenue growth.
Introduced several cost-saving initiatives, including reducing underperforming North American store locations and optimizing labor costs.
Strengthened merchandise mix with a focus on full-price sales, especially in the European market.
Opportunities:
Prospects for continued positive comparable sales growth into Q3, with a forecasted increase of up to 12.1%.
Expansion through new store openings, with 9 new stores planned in 2024 across North America, Europe, and Australia.
Risks:
Projected negative impact on Q3 sales due to calendar shifts, which may affect the apparent growth rate.
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