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TheStreet Open House

Zumiez's CEO Discusses Q2 2012 Results - Earnings Call Transcript

We continued to stay focused on the key business drivers we’ve been talking to you about all year, higher store productivity, domestic new store growth, greater penetration in e-commerce, and international expansion. I'm pleased to report that this quarter produced positive momentum in each of these areas. Our highly differentiated product assortments and exceptional in-store experience continues to attract and engage our core consumer, evidenced by the continued strong comparable store sales growth.

Empowering our managers to impact and lead their teams on a daily basis is not only what makes our company culture unique, it's a critical top line growth driver. Currently we continue to invest in our team members, feeding their potential by promoting from within, and recognizing that our passionate team is essential to our growth as a company and as a leader in our space.

We opened 15 new domestic stores in the second quarter, working towards our long-term goal of 600 to 700 domestic locations. As I mentioned before, the ultimate store count in the US is a moving target and we regularly evaluate our current and potential store portfolio to ensure that we’re building the correct number of units to maximize productivity in an omni-channel world. Today our total US store count is at 463.

In Canada the second quarter marked our first full quarter with comparable store sales results in this market and this back-to-school season is a first comparable busy season, although only for a few stores. Overall, Canada is performing on plan for the quarter and year to date. We continue to show progress and we have confidence in our long-term strategy in Canada where we see the potential for 60 to 70 stores.

As we take these important steps towards building upon our position as a global action sports business, our commitment to our product, culture and operating philosophy has never been more important. We are dedicated to continuing to invest in our people, our infrastructure, and in those things that make the shopping experience in our stores both in person and online extraordinary. This relentless commitment to our fundamental principles is what got us here today and this will continue to drive this business going forward.

Read the rest of this transcript for free on seekingalpha.com

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