Zumiez Inc. Files 2024 10-K Report

TL;DR

<b>Zumiez Inc. has filed its annual 10-K report detailing financial performance and operations for the fiscal year ending February 3, 2024.</b>

AI Summary

Zumiez Inc (ZUMZ) filed a Annual Report (10-K) with the SEC on March 14, 2024. Zumiez Inc. filed its 10-K report for the fiscal year ending February 3, 2024. The filing covers the period from January 31, 2021, to February 3, 2024. Key financial statement items like Retained Earnings, Cost of Sales, and Selling, General, and Administrative Expenses are detailed. The company's fiscal year end is February 3rd. Information regarding various financial instruments and assets, including money market funds and corporate debt securities, is provided.

Why It Matters

For investors and stakeholders tracking Zumiez Inc, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Zumiez Inc.'s financial health and operational activities for the past fiscal year, crucial for investors and stakeholders to assess performance and future outlook. The detailed financial data within the report allows for analysis of trends in revenue, expenses, and asset management, which can inform investment decisions and strategic planning.

Risk Assessment

Risk Level: medium — Zumiez Inc shows moderate risk based on this filing. The company operates in the apparel and accessory retail sector, which is subject to fluctuating consumer demand and competitive pressures, as indicated by the various financial and operational details within the 10-K.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Zumiez Inc.'s performance and potential challenges.

Key Numbers

• 2024-02-03 — Fiscal Year End (Conformed period of report)
• 2024-03-14 — Filing Date (Date the 10-K was filed)
• 0000950170-24-031449 — Accession Number (Unique identifier for the filing)
• 000-51300 — SEC File Number (SEC's file number for the company)

Key Players & Entities

• Zumiez Inc. (company) — Filer of the 10-K report
• 4001 204TH STREET SW (address) — Business and mailing address
• LYNNWOOD (location) — City for business and mailing address
• WA (location) — State for business and mailing address
• 98036 (postal_code) — ZIP code for business and mailing address
• 425-551-1500 (phone_number) — Business phone number

FAQ

Industry Context

Zumiez Inc. operates within the retail sector, specifically focusing on apparel and accessories stores.

Regulatory Implications

The filing is a 10-K, an annual report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Analyze the financial statements for revenue trends and cost management.
2. Review any disclosed risk factors related to market conditions or operations.
3. Compare key financial metrics to previous fiscal years if available in the full filing.

Key Dates

• 2024-02-03: Fiscal Year End — End of the reporting period for the 10-K
• 2024-03-14: Filing Date — Date the 10-K was officially submitted to the SEC

Year-Over-Year Comparison

This filing represents the annual 10-K report, providing a comprehensive year-end overview compared to interim filings.

Filing Documents

• zumz-20240203.htm (10-K) — 2568KB
• zumz-ex21_1.htm (EX-21.1) — 40KB
• zumz-ex23_1.htm (EX-23.1) — 3KB
• zumz-ex31_1.htm (EX-31.1) — 14KB
• zumz-ex31_2.htm (EX-31.2) — 15KB
• zumz-ex32_1.htm (EX-32.1) — 10KB
• zumz-ex97_1.htm (EX-97.1) — 40KB
• img208977546_0.jpg (GRAPHIC) — 135KB
• 0000950170-24-031449.txt (&nbsp;) — 12162KB
• zumz-20240203.xsd (EX-101.SCH) — 1298KB
• zumz-20240203_htm.xml (XML) — 2645KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 20 Item 1C. Cybersecurity 21 Item 2.

Properties

Properties 24 Item 3.

Legal Proceedings

Legal Proceedings 24 Item 4. Mine Safety Disclosures 24 PART II Item 5. Market for the Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 25 Item 6. Reserved 26 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 38 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 38 Item 9A.

Controls and Procedures

Controls and Procedures 38 Item 9B. Other Information 39 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 39 PART III Item 10. Directors, Executive Officers and Corporate Governance 40 Item 11.

Executive Compensation

Executive Compensation 40 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 40 Item 13. Certain Relationships and Related Transactions, and Director Independence 40 Item 14. Principal Accountant Fees and Services 40 PART IV Item 15. Exhibits and Financial Statement Schedules 41

Signatures

Signatures 74 ZUMIEZ INC. FORM 10-K PART I. This Form 10-K contains forward-looking statements. These statements relate to our expectations for future events and future financial performance. Generally, the words "anticipates," "expects," "intends," "may," "should," "plans," "believes," "predicts," "potential," "continue" and similar expressions identify forward-looking statements. Forward-looking statements involve risks and uncertainties, and future events and circumstances could differ significantly from those anticipated in the forward-looking statements. These statements are only predictions. Actual events or results may differ materially. Factors which could affect our financial results are described in Item 1A below and in Item 7 of Part II of this Form 10-K. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Moreover, neither we nor any other person assume responsibility for the accuracy and completeness of the forward-looking statements. We undertake no duty to update any of the forward-looking statements after the date of this report to conform such statements to actual results or to changes in our expectations. We use a fiscal calendar widely used by the retail industry that results in a fiscal year consisting of a 52- or 53-week period ending on the Saturday closest to January 31. Each fiscal year consists of four 13-week quarters, with an extra week added to the fourth quarter every five or six years. Fiscal 2023 was the 53 week period ending February 3, 2024. Fiscal 2022 was the 52 week period ending January 28, 2023. Fiscal 2021 was the 52 week period ending January 29, 2022. Fiscal 2020 was the 52 week period ending January 30, 2021. Fiscal 2019 was the 52 week period ending Febru

BUSINESS

Item 1. BUSINESS Zumiez Inc., including its wholly-owned subsidiaries, 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. Zumiez Inc. was formed in August 1978 and is a Washington State corporation. We operate under the names Zumiez, Blue Tomato and Fast Times. We operate ecommerce websites at zumiez.com, zumiez.ca, blue-tomato.com and fasttimes.com.au. At February 3, 2024, we operated 756 stores; 597 in the United States ("U.S."), 47 in Canada, 87 in Europe and 25 in Australia. We acquired Blue Tomato in fiscal 2012. Blue Tomato is one of the leading European specialty retailers of apparel, footwear, accessories and hardgoods. We acquired Fast Times Skateboarding ("Fast Times") in fiscal 2016. Fast Times is an Australian leading specialty retailer of hardgoods, accessories, apparel and footwear. We employ a sales strategy that integrates our stores with our ecommerce platform to serve our customers. There is significant interaction between our store sales and our ecommerce sales channels and we believe that they are utilized in tandem by our customers. Our selling platforms bring the look and feel of an independent specialty shop through a distinctive store environment and high-energy sales personnel. We seek to staff our stores with store associates who are knowledgeable users of our products, which we believe provides our customers with enhanced customer service and supplements our ability to identify and react quickly to emerging trends and fashions. We design our selling platforms to appeal to teenagers and young adults and to serve as a destination for our customers. We believe that our distinctive selling platforms concepts and compelling economics will provide continued opportunities for growth in both new and existing markets. 3 We believe that our custo

View Full Filing

View this 10-K filing on SEC EDGAR