The results for fiscal 2013 include costs of approximately $1.7 million, or 4 cents per diluted share, for charges associated with the acquisition of Blue Tomato, and the results for fiscal 2012 include approximately $2.4 million, or 6 cents per diluted share, of Blue Tomato acquisition related costs, and approximately $1.3 million, or 3 cents per diluted share, of costs associated with the relocation of the Company's ecommerce fulfillment center to Edwardsville, Kansas and its corporate offices to Lynnwood, Washington from Everett, Washington. Excluding the charges, EPS was 20 cents a share in the latest quarter, up from 16 cents, a year ago.
Total net sales for the second quarter ended August 3 increased 16.9 percent to $157.9 million from $135.1 million in the year-ago quarter. Comparable store sales increased 0.9 percent on top of a comparable store sales increase of 9.5 percent in the 2012 quarter.
Total net sales for the six months (26 weeks) ended August 3, 2013 increased 15.6 percent to $306.4 million from $265.0 million reported for the six months (26 weeks) ended July 28, 2012. Comparable store sales increased 0.2 percent for the twenty six weeks ended August 3, 2013 on top of a comparable store sales increase of 11.1 percent for the twenty six weeks ended July 28, 2012.
The company reported net income of $7.2 million or $0.24 per diluted share in the first six months of fiscal 2013 compared to net income for the first six months of the prior fiscal year of $6.6 million or $0.21 per diluted share. Results for the first six months of fiscal 2013 include approximately $3.4 million, or $0.09 per diluted share, for charges associated with the acquisition of Blue Tomato. Results for the first six months of fiscal 2012 include approximately $2.8 million, or $0.08 per diluted share, of Blue Tomato acquisition related costs, and approximately $1.6 million, or $0.03 per diluted share, of costs associated with the relocation of the Company's ecommerce fulfillment center to Edwardsville, Kansas and corporate offices to Lynnwood, Washington from Everett, Washington.
At Aug. 3, 2013, the company had cash and current marketable securities of $95.0 million compared to cash and current marketable securities of $96.8 million at July 28, 2012. The decrease in cash and current marketable securities is a result of capital expenditures and stock repurchases, offset by cash generated through operations.
Rick Brooks, chief executive officer of Zumiez Inc., stated, "We are pleased with our second quarter earnings results in what proved to be a challenging retail environment. We believe we have compelling merchandise assortments and our efforts to enhance our omni-channel capabilities are yielding positive gains. With significant expansion opportunities still ahead of us, we continue to invest in our people and infrastructure in order to best position the company to deliver sustainable sales and earnings growth and shareholder value for years to come."
August 2013 SalesTotal net sales for the four-week period ended August 31, 2013 increased 14.3 percent to $85.9 million, compared to $75.2 million for the four-week period ended August 25, 2012. The Company's comparable store sales increased 3.0 percent for the four-week period ended August 31, 2013 compared to a comparable store sales increase of 3.7 percent for the four-week period ended August 25, 2012.
Fiscal 2013 Third Quarter Outlook
The company is introducing guidance for the three months ending November 2, 2013. Net sales are projected to be in the range of $187 to $191 million resulting in net income per diluted share of approximately $0.39 to $0.43, which includes an estimated $1.6 million, or approximately $0.04 per diluted share, for charges associated with the acquisition of Blue Tomato. This guidance is based on anticipated comparable store sales in the range of 0 percent to 2 percent for the third quarter of fiscal 2013.
The company currently intends to open 58 new stores in fiscal 2013, including 9 stores in Canada and 5 stores in Europe.
Zumiez is a leading multi-channel specialty retailer of action sports related apparel, footwear, equipment and accessories, focusing on skateboarding, snowboarding, surfing, motocross and BMX for young men and women. As of Aug. 31, 2013 we operated 537 stores including, 501 in the United States, 28 in Canada, and 8 in Europe. We operate under the name Zumiez and Blue Tomato.
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