First Quarter Comparable Sales Increased 4.0%

Operating Loss Improved to $15.2 million

LYNNWOOD, Wash., June 04, 2026 (GLOBE NEWSWIRE) -- Zumiez Inc. (NASDAQ:ZUMZ) a leading specialty retailer of apparel, footwear, equipment and accessories for young men and women, today reported results for the first quarter ended May 2, 2026.

Net sales for the first quarter ended May 2, 2026 (13 weeks) increased 4.9% to $193.3 million from $184.3 million in the first quarter ended May 3, 2025 (13 weeks). Comparable sales for the thirteen weeks ended May 2, 2026, increased 4.0%. Net loss in the first quarter of fiscal 2026 was $13.3 million, or $0.82 per share, compared to a net loss of $14.3 million, or $0.79 per share, in the first quarter of the prior fiscal year. The first quarter of 2025 was negatively impacted by $2.9 million, or approximately $0.13 per share related to the settlement of a wage and hours lawsuit in California. Though operating income and net income improved year-over-year, EPS was down slightly given that the Company was in a loss position in the first quarter and reduced share counts through its share buyback programs.

On May 2, 2026, the Company had cash and current marketable securities of $124.2 million compared to cash and current marketable securities of $101.0 million on May 3, 2025. The increase was primarily driven by $47.5 million of cash flow from operations and the release of $3.0 million in restricted cash, partially offset by $19.0 million related to share repurchases and $10.5 million of capital expenditures. The Company repurchased 0.3 million shares during the first quarter of 2026 at an average cost including commission of $23.56 per share and a total cost of $6.2 million.

"We continue to make important progress towards sustained profitable growth," said Rick Brooks, Chief Executive Officer of Zumiez Inc. "First quarter comparable sales increased mid-single digits for the second consecutive year driven by ongoing strength in our North American business and strong mid-single digit comps in Europe. Sales trends in the U.S. remained nicely positive during the quarter despite increasing pressure on consumers, underscoring the success of our recent merchandise assortments and customer experience initiatives. While still in the early innings, the work we are doing to replicate our full-price selling model in Europe is gaining traction, contributing to year-over-year improvements in sales and margin. Despite some softness in North America during the May period, we are encouraged that we have been able to grow sales and margin through the challenges in the macro environment and feel we are well positioned to capitalize during the key back-to-school and holiday seasons when the consumer has a reason to come out and shop."

May 2026 Sales

Net sales for the four-week period ended May 30, 2026, increased 0.1% compared to the four-week period ended May 31, 2025. Comparable sales for the four-week period ending May 30, 2026, decreased 0.1% from the comparable period in the prior year. From a regional perspective, comparable sales for North America decreased 1.5% and other international comparable sales increased 7.2%.

Fiscal 2026 Second Quarter Outlook

The Company is introducing guidance for the three months ending August 1, 2026. Net sales are projected to be in the range of $210 to $215 million. Earnings per share are expected to be between a loss of $0.23 and a loss of $0.08.

In fiscal 2026 the Company currently intends to open approximately 5 new stores all located in North America and close roughly 26 stores, including 20 in North America and 6 internationally.

Conference call Information

To access the conference call, please pre-register using this link (Registration Link). Registrants will receive confirmation with dial-in details. The conference call will also be available to interested parties through a live webcast at https://ir.zumiez.com. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at https://ir.zumiez.com.

About Zumiez Inc.

Zumiez is a leading specialty retailer of apparel, footwear, accessories and hardgoods for young men and women who want to express their individuality through the fashion, music, art and culture of action sports, streetwear, and other unique lifestyles. As of May 30, 2026, we operated 715 stores, including 560 in the United States, 45 in Canada, 83 in Europe and 27 in Australia. We operate under the names Zumiez, Blue Tomato and Fast Times. Additionally, we operate ecommerce web sites at zumiez.com, zumiez.ca, blue-tomato.com and fasttimes.com.au.

Safe Harbor Statement

Certain statements in this press release and oral statements relating thereto made from time to time by representatives of the Company may constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. These statements include, without limitation, predictions and guidance relating to the Company's future financial performance, brand and product category diversity, ability to adjust product mix, integration of acquired businesses, growing customer demand for our products and new store openings. In some cases, you can identify forward-looking statements by terminology such as, "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations, but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties, which include, without limitation, those described in the Company's annual report on Form 10-K for the fiscal year ended February 1, 2025 as filed with the Securities and Exchange Commission and available at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.


ZUMIEZ INC. CONDENSED CONSOLIDATED STATEMENTS OF LOSS (In thousands, except per share amounts) (Unaudited)

	Three Months Ended
	May 2, 2026			% of Sales			May 3, 2025		% of Sales
Net sales	$	193,348		100.0	%	$	184,343		100.0	%
Cost of goods sold		132,005		68.3	%		129,028		70.0	%
Gross profit		61,343		31.7	%		55,315		30.0	%
Selling, general and administrative expenses		76,535		39.6	%		75,187		40.8	%
Operating loss		(15,192	)	-7.9	%		(19,872	)	-10.8	%
Interest income, net		849		0.5	%		2,255		1.2	%
Other (expense) income, net		(112	)	-0.1	%		1,844		1.0	%
Loss, before income taxes		(14,455	)	-7.5	%		(15,773	)	-8.6	%
Benefit from income taxes		(1,189	)	-0.6	%		(1,443	)	-0.8	%
Net loss	$	(13,266	)	-6.9	%	$	(14,330	)	-7.8	%
Basic loss per share	$	(0.82	)			$	(0.79	)
Diluted loss per share	$	(0.82	)			$	(0.79	)
Weighted average shares used in computation of earnings per share
Basic		16,205					18,116
Diluted		16,205					18,116

ZUMIEZ INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands)

	May 2, 2026			January 31, 2026			May 3, 2025
	(Unaudited)						(Unaudited)
Assets
Current assets
Cash and cash equivalents	$	66,918		$	127,860		$	62,519
Marketable securities		57,242			32,764			38,443
Receivables		14,147			13,957			14,839
Inventories		153,189			146,995			149,864
Prepaid expenses and other current assets		15,085			14,407			15,525
Total current assets		306,581			335,983			281,190
Fixed assets, net		70,473			72,813			79,703
Operating lease right-of-use assets		190,805			185,604			185,901
Goodwill		15,589			15,519			15,329
Intangible assets, net		15,411			15,513			14,665
Deferred tax assets, net		7,621			6,349			10,215
Other long-term assets		12,259			12,390			12,097
Total long-term assets		312,158			308,188			317,910
Total assets	$	618,739		$	644,171		$	599,100

Liabilities and Shareholders' Equity
Current liabilities
Trade accounts payable	$	56,208		$	49,150		$	48,981
Accrued payroll and payroll taxes		17,659			28,221			16,563
Operating lease liabilities		55,824			54,023			54,388
Other current liabilities		27,767			36,136			26,943
Total current liabilities		157,458			167,530			146,875
Long-term operating lease liabilities		148,009			145,306			147,398
Other long-term liabilities		7,407			7,050			6,349
Total long-term liabilities		155,416			152,356			153,747
Total liabilities		312,874			319,886			300,622

Shareholders' equity
Preferred stock, no par value, 20,000 shares authorized; none issued and outstanding		—			—			—
Common stock, no par value, 50,000 shares authorized; 17,032 shares issued and outstanding at May 2, 2026, 16,971 shares issued and outstanding at January 31, 2026, and 17,770 shares issued and outstanding at May 3, 2025		213,822			211,764			205,595
Accumulated other comprehensive loss		(12,419	)		(11,438	)		(16,746	)
Retained earnings		104,462			123,959			109,629
Total shareholders' equity		305,865			324,285			298,478
Total liabilities and shareholders' equity	$	618,739		$	644,171		$	599,100

ZUMIEZ INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited)

	Three Months Ended
	May 2, 2026			May 3, 2025
Cash flows from operating activities:
Net loss	$	(13,266	)	$	(14,330	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation, amortization and accretion		4,898			5,387
Noncash lease expense		14,980			14,639
Deferred taxes		(1,194	)		(1,473	)
Stock-based compensation expense		2,024			1,828
Impairment of long-lived assets		511			462
Other		126			(765	)
Changes in operating assets and liabilities:
Receivables		777			(758	)
Inventories		(6,534	)		(119	)
Prepaid expenses and other assets		(729	)		299
Trade accounts payable		7,145			(1,357	)
Accrued payroll and payroll taxes		(10,537	)		(5,863	)
Income taxes payable		(4,926	)		(259	)
Operating lease liabilities		(15,947	)		(16,588	)
Other liabilities		(5,423	)		(3,187	)
Net cash used in operating activities		(28,095	)		(22,084	)

Cash flows from investing activities:
Additions to fixed assets		(1,707	)		(2,219	)
Purchases of marketable securities and other investments		(27,088	)		(7,055	)
Sales and maturities of marketable securities and other investments		2,544			5,086
Net cash used in investing activities		(26,251	)		(4,188	)

Cash flows from financing activities:
Proceeds from the issuance and exercise of stock-based awards, net of tax		34			378
Repurchase of common stock		(5,994	)		(25,215	)
Net cash used in financing activities		(5,960	)		(24,837	)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash		(645	)		1,608
Net decrease in cash, cash equivalents, and restricted cash		(60,951	)		(49,501	)
Cash, cash equivalents, and restricted cash, beginning of period		134,113			121,517
Cash, cash equivalents, and restricted cash, end of period	$	73,162		$	72,016
Supplemental disclosure on cash flow information:
Cash paid during the period for income taxes	$	4,912		$	412
Accrual for purchases of fixed assets		1,033			982
Accrual for repurchase of common stock		237			-

Company Contact:

Darin White

Director of Finance & Investor Relations

Zumiez Inc.

(425) 551-1500, ext. 1337

Investor Contact:

ICR

Brendon Frey

(203) 682-8200

Zumiez Inc. Announces Fiscal 2026 First Quarter Results