Zumiez posts first-quarter loss

Everett-based retailer Zumiez posted a first-quarter loss and projected a second-quarter loss today, saying the economic environment remains "very challenging."

For the three months ended May 2, Zumiez lost $1.7 million, or 6 cents a share, compared with a profit of $1.4 million, or 5 cents a share, a year ago. Sales fell 2 percent to $76.8 million.

Analysts polled by Thomson Reuters predicted a per-share loss of 8 cents and sales of $76.5 million.

For the second quarter, Zumiez expects to lose 17 cents to 14 cents a share, worse than the 7 cents a share that analysts expected.

"Consumer discretionary spending is tough," Chief Financial Officer Trevor Lang said during a conference call with analysts. "Consumers are focused on really low value price points, and that doesn't necessarily play to our strength."

Also, Chief Executive Rick Brooks told analysts that Zumiez is evaluating the assets of Active Ride Shop, a small California retailer that filed for Chapter 11 bankruptcy protection in March. Brooks declined further comment, saying Zumiez is in the "early stages of due diligence."

Court filings show that Zumiez would pay as much as $7.2 million in cash, depending on the number of stores it decided to buy and its valuation of the inventory. Active Ride Shop has 21 stores in California.

Zumiez operates about 360 stores aimed at skateboarding and snowboarding enthusiasts nationwide.

Its stock closed Thursday down 16 cents, or 1 percent, at $11.10. The company released its results after the end of regular trading.

Seattle Times news researcher David Turim contributed to this report.

Amy Martinez: 206-464-2923 or amartinez@seattletimes.com