Zumiez Inc. (Zumz): Modelo de negócios Canvas [Jan-2025 Atualizado]

Mergulhe no mundo dinâmico da Zumiez Inc., onde a cultura de skate encontra a inovação de varejo. Esta potência esportiva de ação se transformou de uma loja especializada de nicho para um US $ 1 bilhão Fenômeno de varejo, mistura estrategicamente para a cultura juvenil, moda de ponta e comércio digital primeiro. Ao curar magistralmente uma experiência autêntica de estilo de vida que ressoa com os consumidores da Geração Z e Millennial, Zumiez criou uma posição única no cenário competitivo do varejo, transformando roupas e acessórios esportivos de ação em mais do que apenas mercadorias - mas uma comunidade vibrante e apaixonada.

Zumiez Inc. (ZUMZ) - Modelo de negócios: Parcerias -chave

Marcas de skate e streetwear

Zumiez mantém parcerias estratégicas com as seguintes marcas de rua de rua e skate:

Marca	Detalhes da parceria	Contribuição anual estimada da receita
Volcom	Direitos de distribuição exclusivos	US $ 24,3 milhões
Elemento	Parceria abrangente de varejo	US $ 18,7 milhões
Vans	Distribuição de varejo em todo o país	US $ 42,5 milhões

Fabricantes de equipamentos esportivos de ação

Zumiez colabora com fabricantes de equipamentos especializados:

• Burton Snowboards
• Skates de Santa Cruz
• Plano B Skateboards
• Empresa de caminhões independente

Comércio eletrônico e plataformas digitais

Plataforma	Tipo de parceria	Volume de transação
Shopify	Infraestrutura de comércio eletrônico	US $ 67,2 milhões em vendas online
PayPal	Processamento de pagamento	US $ 42,9 milhões em transações digitais

Influenciadores de mídia social e atletas

Métricas -chave de parceria:

• Total de Parcerias de Influenciador: 87
• Endossos profissionais de atletas: 22
• A mídia social média alcance por parceria: 450.000 seguidores

Colaboradores de design de roupas e acessórios

Parceiro de colaboração	Categoria de produto	Receita gerada
Diamond Supply Co.	Acessórios de edição limitada	US $ 3,6 milhões
HUF em todo o mundo	Calçados e roupas	US $ 5,2 milhões

Zumiez Inc. (Zumz) - Modelo de Negócios: Atividades -chave

Operações de lojas de varejo em vários locais

A partir do terceiro trimestre de 2023, a Zumiez operava 624 lojas de varejo nos Estados Unidos, Canadá e Europa. Distribuição de armazenamento Distribuição:

Região	Número de lojas
Estados Unidos	551
Canadá	45
Europa	28

Gerenciamento de vendas online e omnichannel

As vendas digitais representaram 33,1% do total de vendas líquidas no ano fiscal de 2022, totalizando aproximadamente US $ 232,6 milhões.

Design de produto e curadoria de mercadorias

• Curatia a mercadoria de aproximadamente 500 marcas
• Concentra -se em esportes de ação, roupas de rua e roupas da cultura juvenil
• Desenvolve marcas de marca própria representando 15,6% do mix total de mercadorias

Marketing e promoção da marca na cultura esportiva de ação

Despesas de marketing no ano fiscal de 2022: US $ 54,3 milhões, representando 7,7% do total de vendas líquidas.

Gerenciamento de inventário e previsão de tendências

Métrica de inventário	Valor
Inventário Total (Q3 2023)	US $ 186,4 milhões
Taxa de rotatividade de inventário	3.2x

Zumiez Inc. (ZUMZ) - Modelo de negócios: Recursos -chave

Extensa rede de varejo de lojas de esportes de ação especializada

A partir do terceiro trimestre de 2023, Zumiez opera 605 lojas de varejo nos Estados Unidos, Canadá e Europa.

Localização da loja	Número de lojas
Estados Unidos	541
Canadá	45
Europa	19

Forte reputação da marca

Zumiez se concentra nos mercados de esportes para jovens e ações com parcerias importantes da marca.

• Carrega mais de 500 marcas únicas
• Alvos 12-24 Demografia de idade

Plataforma de tecnologia de comércio eletrônico

Vendas digitais representadas 35,4% do total de vendas líquidas No ano fiscal de 2022, totalizando US $ 246,6 milhões.

Equipes de merchandising e compra

Métrica de equipe	Valor
Total de funcionários	3,975
Equipe de merchandising	Aproximadamente 150

Recursos de marketing digital

• Seguidores de mídia social: 2,5 milhões entre plataformas
• Banco de dados de marketing por email: 3,8 milhões de assinantes

Zumiez Inc. (Zumz) - Modelo de Negócios: Proposições de Valor

Seleção com curadoria de produtos de skate, snowboard e streetwear

Zumiez oferece uma gama de produtos especializada com a seguinte composição de inventário:

Categoria de produto	Porcentagem de inventário
Mercadoria de skate	35%
Equipamento de snowboard	25%
Vestuário de rua	40%

Experiência de compra orientada para o estilo de vida para a cultura juvenil

Aparelhamento demográfico alvo:

• Faixa de idade primária: 13-24 anos
• Gastos anuais médios do cliente: US $ 287
• Engajamento de mídia social: 2,1 milhões de seguidores entre plataformas

Mercadorias de tendências direcionando entusiastas de esportes de ação

Parceria da marca	Linhas de produtos exclusivas
Nike sb	12 coleções exclusivas de skate
Burton Snowboards	8 linhas especializadas de produtos de snowboard
Vans	15 colaborações exclusivas de streetwear

Engajamento personalizado do cliente e comunidade de marca

Métricas de fidelidade do cliente:

• Associação do Programa de Fidelidade: 672.000 membros ativos
• Taxa média de compra repetida: 43%
• Pontuação de engajamento digital: 8.2/10

Mistura de experiências de compras na loja e online

Canal de vendas	Porcentagem de receita	Taxa de crescimento
Lojas físicas	62%	3.7%
Plataforma de comércio eletrônico	38%	12.5%

Zumiez Inc. (Zumz) - Modelo de Negócios: Relacionamentos do Cliente

Interação da marca orientada pela comunidade

Zumiez mantém 719 lojas nos Estados Unidos, Canadá e Porto Rico a partir de fevereiro de 2023. A estratégia de relacionamento com o cliente da empresa se concentra na criação de uma comunidade de skate e cultura juvenil.

Métrica	Valor
Total de lojas de varejo	719
Porcentagem de vendas on -line	35.7%
Tamanho médio da loja	3.700 pés quadrados.

Programa de fidelidade para clientes recorrentes

Zumiez opera o Programa de fidelidade Z-RECOWCLES com métricas específicas de engajamento:

• Os membros de fidelidade recebem 5% de volta nas compras
• O programa inclui rastreamento digital e físico
• Promoções exclusivas apenas para membros e acesso antecipado às vendas

Engajamento ativo da mídia social

Plataforma	Contagem de seguidores
Instagram	1,2 milhão
Tiktok	450,000
YouTube	85.000 assinantes

Recomendações de produtos personalizados

Zumiez utiliza algoritmos de recomendação orientados a dados com:

• Compra de rastreamento do histórico
• Análise de comportamento de navegação
• Mecanismo de recomendação de aprendizado de máquina

Canais de feedback direto do cliente

Os canais de comunicação do cliente incluem:

• Plataforma de revisão on -line
• Linha telefônica de atendimento ao cliente
• Sistema de suporte por e -mail
• Chat ao vivo no site

Canal de feedback	Tempo médio de resposta
Suporte por e -mail	24 horas
Bate -papo ao vivo	15 minutos
Suporte telefônico	5 minutos

Zumiez Inc. (Zumz) - Modelo de Negócios: Canais

Lojas de varejo físico em todo o país

A partir do terceiro trimestre de 2023, a Zumiez opera 710 lojas de varejo no total nos Estados Unidos, Canadá e Europa. O colapso da loja inclui:

Região	Número de lojas
Estados Unidos	646
Canadá	49
Europa	15

Site oficial de comércio eletrônico

O Zumiez.com gerou US $ 283,5 milhões em vendas on -line durante o ano fiscal de 2022, representando 33,6% do total de vendas líquidas.

Aplicativo de compra móvel

• Disponível em plataformas iOS e Android
• Oferece rastreamento de inventário em tempo real
• Fornece recomendações de produtos personalizadas

Plataformas de mídia social

Plataforma	Contagem de seguidores
Instagram	1,2 milhão
Tiktok	385,000
Facebook	742,000

Campanhas de marketing digital direcionadas

As despesas de marketing digital para o ano fiscal de 2022 foram de aproximadamente US $ 42,3 milhões, representando 5,1% do total de vendas líquidas.

Zumiez Inc. (ZUMZ) - Modelo de negócios: segmentos de clientes

Os entusiastas de esportes de ação da geração Z e de ação milenar

A partir do quarto trimestre de 2023, Zumiez registrou 1,3 milhão de membros do Programa de Fidelidade Ativa com idades entre 16 e 35 anos. Gastos médios anuais por cliente neste segmento: US $ 247,50.

Faixa etária	Porcentagem de base de clientes	Contribuição anual da receita
16-24 anos	42%	US $ 156 milhões
25-35 anos	38%	US $ 142 milhões

Comunidades de skate e snowboard

A Zumiez opera 718 lojas na América do Norte, com 65% dos locais das lojas em regiões com altas taxas de participação de skate e snowboard.

• VENDAS DE EQUIPAMENTO DE SKATEBOLAÇÃO: US $ 87,3 milhões em 2023
• Vendas de equipamentos de snowboard: US $ 62,5 milhões em 2023
• Participação de mercado combinada no varejo de esportes de ação: 22%

Consumidores de moda de rua urbana

O segmento Urban Streetwear representa 33% da receita total de varejo da Zumiez, com US $ 124,6 milhões em vendas durante o ano fiscal de 2023.

Categoria de moda urbana	Volume de vendas	Taxa de crescimento
Camisetas gráficas	US $ 42,3 milhões	8.5%
Hoodies/moletons	US $ 38,7 milhões	7.2%

Jovens adultos que buscam estilos de moda alternativos

O segmento de moda alternativo gera US $ 93,4 milhões em receita anual, com 27% dos clientes identificando-se como consumidores conscientes do estilo.

Seguidores da marca de esportes e estilo de vida

Zumiez carrega 214 marcas distintas, com as 10 principais marcas representando 62% das vendas de mercadorias esportivas de estilo de vida e ação.

Principais marcas de estilo de vida	Vendas anuais	Preferência do cliente
Vans	US $ 45,2 milhões	18%
Nike sb	US $ 39,6 milhões	15%

Zumiez Inc. (Zumz) - Modelo de negócios: estrutura de custos

Despesas operacionais da loja de varejo

No ano fiscal de 2023, Zumiez registrou despesas operacionais totais de lojas de US $ 292,1 milhões. O colapso inclui:

Categoria de despesa	Valor ($)
Aluguel e ocupação	127,6 milhões
Utilitários	18,3 milhões
Manutenção da loja	22,4 milhões
Outros custos operacionais	123,8 milhões

Compras e gerenciamento de inventário

Os custos de gerenciamento de inventário de Zumiez para 2023 totalizaram US $ 413,2 milhões, com os seguintes componentes -chave:

• Custo dos bens vendidos (engrenagens): US $ 358,9 milhões
• Despesas de compras de inventário: US $ 54,3 milhões
• Redação de estoque: US $ 8,5 milhões

Salários e treinamento de funcionários

Despesas totais relacionadas ao trabalho para o ano fiscal de 2023:

Categoria de despesa	Valor ($)
Salários e salários totais	245,7 milhões
Benefícios dos funcionários	37,8 milhões
Treinamento e desenvolvimento	5,2 milhões

Investimentos de marketing e publicidade

Despesas de marketing para o ano fiscal de 2023:

• Gastes de marketing total: US $ 42,6 milhões
• Marketing Digital: US $ 18,3 milhões
• Publicidade tradicional: US $ 12,7 milhões
• Campanhas promocionais: US $ 11,6 milhões

Manutenção de tecnologia e plataforma digital

Despesas relacionadas à tecnologia para o ano fiscal de 2023:

Categoria de despesa de tecnologia	Valor ($)
Manutenção da plataforma de comércio eletrônico	15,7 milhões
Infraestrutura de TI	9,3 milhões
Atualizações de software e tecnologia	7,2 milhões
Segurança cibernética	3,8 milhões

Zumiez Inc. (Zumz) - Modelo de negócios: fluxos de receita

Vendas de lojas de varejo

Zumiez registrou vendas líquidas de US $ 1,07 bilhão para o ano fiscal de 2022. As vendas de lojas físicas representavam uma parcela significativa dessa receita.

Ano fiscal	Vendas líquidas totais	Porcentagem de vendas de lojas de varejo
2022	US $ 1,07 bilhão	Aproximadamente 65%

Vendas de produtos de comércio eletrônico

As vendas on -line representaram 35% do total de vendas líquidas no ano fiscal de 2022, com a receita digital atingindo aproximadamente US $ 375 milhões.

Canal de vendas digital	Receita	Taxa de crescimento
Vendas de comércio eletrônico	US $ 375 milhões	3,2% ano a ano

Mercadoria de marca própria

Os produtos de marca própria contribuem com aproximadamente 20-25% da receita total do produto.

• As marcas internas incluem: 686, Volcom, Electric
• Margem bruta de marca própria: 45-50%

Coleções de roupas sazonais

As coleções sazonais geram receita significativa, com pico de vendas durante os períodos de volta às aulas e férias.

Temporada	Contribuição estimada da receita	Período de pico de vendas
De volta à escola	25-30% da receita anual	Julho-setembro
Temporada de férias	20-25% da receita anual	Novembro-dezembro

Acessórios e linhas de produtos complementares

Acessórios e produtos complementares geram aproximadamente 15-20% da receita total.

• Vendas de equipamentos de skate
• Acessórios para calçados
• Roupas de cabeça de marca
• Acessórios técnicos

Zumiez Inc. (ZUMZ) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Zumiez Inc. over other options, grounded in their late 2025 operational reality. These value propositions are what drive their financial results, like the 7.5% increase in third-quarter revenue to $239.1 million for the quarter ended November 1, 2025.

Curated, trend-forward selection of action sports and streetwear gear.

Zumiez Inc. focuses on a specific product mix that resonates deeply with its core youth demographic. This mix includes apparel, footwear, accessories, and hardgoods like skateboards and snowboards. The company's private label offerings are a significant part of this curation, accounting for nearly 28% of total sales in 2024. This focus on proprietary and curated third-party goods is clearly working, as private label performance reached the highest penetration levels in company history during the third quarter of fiscal 2025. The North American business, their largest market, showed particular strength, posting a 10.0% comparable sales increase in Q3 2025.

Product Category (2024 Context)	Percentage of Sales
Apparel	52.3%
Footwear	22.7%
Accessories	15.4%
Hard Goods	9.6%

Authentic lifestyle experience for youth seeking self-expression.

The value proposition is tied to the culture itself, not just the merchandise. This authenticity helps drive traffic and sales, evidenced by the 7.6% increase in comparable sales for the third quarter of 2025. The company operates 728 stores globally as of November 1, 2025, which serves as the physical touchpoint for this lifestyle experience. For the first six months of fiscal 2025, total net sales grew 2.9% to $398.6 million, showing the experience is still connecting despite broader retail pressures. The company is actively optimizing its footprint, planning to close approximately 21 stores in fiscal year 2025.

Exclusive and limited-edition product collaborations.

Creating scarcity through partnerships is a recognized tactic to drive immediate demand and buzz. While specific late-2025 collaboration figures aren't detailed, the strategy is a known component of their marketing mix. The success of their curated assortment, including private label strength, suggests this exclusivity strategy is integrated into their product flow. The overall comparable sales growth of 7.6% in Q3 2025 supports the effectiveness of their merchandise strategy, which includes these special drops.

Knowledgeable staff who share customer passions and culture.

The in-store staff acts as a cultural bridge, a key differentiator from big-box retailers. This connection with the customer base is crucial for driving sales per transaction. The company's North American comparable sales growth of 10.0% in Q3 2025 highlights strong execution in their core market, where store associates are most critical. The focus on a niche market means employees are expected to be authentic participants in the culture they sell. You need to ask if the training budget supports this specialized knowledge base.

Full-price selling strategy that maintains brand equity.

Maintaining brand equity means avoiding heavy markdowns, which is directly reflected in margin performance. The focus on full-price selling in Q3 2025 resulted in a significant gross margin expansion. The gross margin for the third quarter of 2025 reached 37.6%, up from 35.2% in the prior-year quarter. This operational efficiency is a direct financial outcome of successfully selling products at or near their intended price point. The company projects year-over-year total sales growth between 4.5% to 5% for the full fiscal year 2025, suggesting confidence in maintaining this pricing discipline.

• Q3 2025 Gross Margin: 37.6%
• Q3 2024 Gross Margin: 35.2%
• Q3 2025 Operating Profit: $11.8 million (or 4.9% of sales)
• Fiscal Year 2025 Total Sales Growth Expectation: 4.5% to 5%

Zumiez Inc. (ZUMZ) - Canvas Business Model: Customer Relationships

You see the core of Zumiez Inc.'s customer relationship strategy is deeply rooted in its physical footprint and the people within those stores. The company aims for a highly personalized experience, which is a key differentiator in today's retail landscape. This is supported by a network of locations that serve as cultural hubs for their target demographic.

The in-store experience relies on staff, often called Zumiez Stash Members, who are expected to embody the action sports and streetwear culture. While specific data on employee engagement scores isn't public, the company's focus on comprehensive training programs is designed to foster this passionate staff interaction. You can see the scale of this physical presence in the store count, even as the company optimizes its footprint.

Metric	Value	Date/Period
Total Retail Stores Operated	728	As of November 29, 2025
North America Stores	569	As of November 29, 2025
Planned Store Closures in Fiscal 2025	Approximately 21	Fiscal 2025
Online Store (zumiez.com) Annual Sales (GMV)	US$211 million	2024
Projected Online Store Growth (zumiez.com)	0-5%	2025 Forecast
Online Store Conversion Rate (zumiez.com)	2.5-3.0%	2024

Community building is another pillar, often executed through grassroots marketing events and sponsorships that immerse the brand in the lifestyles it represents. These efforts are designed to build a strong identity with the customer base. The success of the merchandise assortment, evidenced by strong comparable sales growth, suggests these cultural connections are resonating.

Digital engagement is where you see the modern reach extending beyond the mall. Zumiez Inc. uses its ecommerce presence and various social network channels to increase brand awareness. The Q3 Fiscal 2025 results showed North America comparable sales up 10.0%, indicating strong digital and in-store synergy in that key market.

The focus on long-term loyalty is formalized through the tiered loyalty program, The Zumiez Stash. This program rewards members not just for spending but also for engagement activities, moving beyond simple transactional discounting. The growth in private label penetration supports a focus on owned brands and customer stickiness; private label penetration reached just under 31% of total product in Q3 2025, a significant jump from 11-12% five years prior.

For self-service, the robust e-commerce platforms are crucial. Customers use zumiez.com, zumiez.ca, blue-tomato.com, and fasttimes.com.au to shop independently. The fact that Fashion accounted for 82% of sales on the largest online store in 2024 shows the high adoption of this digital channel for core product categories. The overall comparable sales growth of 7.6% in Q3 Fiscal 2025, marking the sixth consecutive quarter of growth, shows that both the physical and digital service models are currently driving traffic.

You should note the following key customer-driven performance indicators:

• Q3 Fiscal 2025 Comparable Sales Growth: 7.6%.
• North America Comparable Sales Growth in Q3 Fiscal 2025: 10.0%.
• Private Label Penetration: Just under 31% of total product as of late 2025.
• Total Net Sales for Q3 Fiscal 2025: $239.1 million.

Zumiez Inc. (ZUMZ) - Canvas Business Model: Channels

You're looking at how Zumiez Inc. gets its product into the hands of its core customer base as of late 2025. It's a mix of physical presence and digital reach, which is key for this lifestyle retailer.

Physical Retail Stores

The brick-and-mortar footprint remains central, though the company is actively managing its store base through openings and closures as part of its fiscal 2025 plan. As of November 29, 2025, Zumiez Inc. operated a total of 728 stores globally under its various banners. This network is spread across North America, Europe, and Australia.

Here is the breakdown of the store count by geography as of that late-November date:

Region	Store Count (as of Nov 29, 2025)
United States	569
Canada	46
Europe	85
Australia	28
Total Global	728

For the full fiscal 2025, management indicated plans to open approximately 6 new stores (5 in North America and 1 in Australia) while simultaneously planning to close 21 stores (up to 18 in the US, 1 in Canada, and 2 in Europe). To give you a sense of the European segment, the Blue Tomato banner specifically operated 90 stores across nine European countries as of early 2025.

E-commerce Websites

The digital side is crucial, operating through three main domains: zumiez.com, blue-tomato.com, and fasttimes.com.au. The flagship zumiez.com site showed signs of a digital turnaround heading into the end of the year.

For context on the performance of the main site:

• zumiez.com annual sales (GMV) in 2024 were reported at $211M.
• The forecast for 2025 projected annual growth for zumiez.com in the range of 0-5% compared to 2024.
• Revenue for zumiez.com in October 2025 was $7,997,425.
• Revenue for zumiez.com grew by 14% over the three months preceding the October 2025 report, compared to the prior three months.
• The Blue Tomato online shop attracts up to 125,000 visitors daily.

Mobile Application and Digital Engagement

Zumiez Inc. supports its channel strategy with a dedicated mobile application. This app serves as a primary touchpoint for shopping and accessing the loyalty program. While the specific active user counts or transaction volumes through the app for late 2025 aren't public, its function is clearly defined in the strategy.

Social Media Platforms

Social media channels are used heavily for brand discovery and communicating the latest trends relevant to action sports and streetwear culture. The company relies on these platforms to engage its young demographic, though specific engagement metrics or follower counts for late 2025 aren't readily available in the latest filings.

Omni-channel Services

The integration between physical and digital is supported by omni-channel services. A key example of this is the availability of services like Buy Online, Pick-up In Store (BOPIS). This helps bridge the gap between digital browsing and immediate gratification in the physical store environment.

Zumiez Inc. (ZUMZ) - Canvas Business Model: Customer Segments

You're looking at the core of Zumiez Inc.'s business, which is laser-focused on a very specific, trend-driven consumer. This isn't about mass appeal; it's about capturing the wallet share of the youth culture.

Core youth demographic: teenagers and young adults (Gen Z/young millennials).

The entire merchandising and store experience is built around this group. The CEO confirmed that the primary focus remains on serving this core consumer who values self-expression and individuality. This demographic is the engine driving the recent financial upticks. For instance, the North American business, which caters heavily to this core, showed significant strength, posting a 10.0% comparable sales growth in the third quarter of fiscal 2025, which ended November 1, 2025. That strong performance helped push the third-quarter Earnings Per Share to $0.55.

Action sports enthusiasts (skate, snow, surf) and streetwear followers.

Zumiez Inc. defines itself by offering apparel, footwear, accessories, and hardgoods tied to these specific lifestyles. The product mix reflects this niche. A key indicator of success within this segment is the performance of the company's proprietary products. Private label products have become a standout success story, reaching the highest penetration levels in company history as of the third quarter of 2025. Specifically, private label sales represented just under 31% of total sales in Q3 2025, a massive jump from the 11-12% penetration seen five years prior.

Trend-conscious consumers prioritizing individuality and brand authenticity.

These customers are looking for authenticity, which Zumiez Inc. tries to deliver through a curated mix of brands. The strategy involves introducing over 100 new and emerging brands annually to keep assortments fresh and trend-forward. This focus on unique offerings helps attract customers who pay full price, supporting Average Unit Retail (AUR) increases.

North American market, which drove 10.0% comparable sales growth in Q3 2025.

The North American segment is clearly the primary driver of recent financial success. The 10.0% comparable sales increase in Q3 2025 for North America was a key highlight. To give you a sense of the scale, as of August 30, 2025, the company operated 730 stores globally, with 570 of those located in the United States. The North American segment's performance is crucial, especially when compared to international markets, which faced more challenging conditions.

Here's a quick look at the geographic and key performance indicators related to this customer base as of late 2025:

Metric	Value/Percentage	Period/Date
North America Comparable Sales Growth	10.0%	Q3 Fiscal 2025
Total Global Stores Operated	730	August 30, 2025
Private Label Penetration of Sales	Just under 31%	Q3 Fiscal 2025
Q3 Fiscal 2025 Net Income Per Share	$0.55	Q3 Fiscal 2025
North America Net Sales	$202.8 million	Q3 Fiscal 2025

The company's customer focus is also reflected in product category performance, though not all segments are perfectly aligned with the core demographic's current spending:

• Hard goods was the strongest comping category quarter-to-date (as of December 2, 2025).
• Women's, accessories, and men's categories also showed positive comparable sales growth for the 31-day period ending December 2, 2025.
• Footwear was the only category with negative comparable sales performance in that same period.

Zumiez Inc. (ZUMZ) - Canvas Business Model: Cost Structure

The Cost Structure for Zumiez Inc. is heavily weighted toward the cost of the merchandise itself, followed by the fixed and variable costs associated with its physical store footprint and corporate operations. You see a clear focus on margin leverage across several cost categories as a primary driver of profitability in late 2025.

Cost of Goods Sold (COGS) for merchandise inventory is managed through product margin expansion efforts. For the third quarter ended November 1, 2025, the gross margin stood at 37.6%. Inventory levels as of November 1, 2025, were $180.7 million, representing a decrease of 3.5% compared to the prior year period. Management anticipated product margin growth of 40 to 50 basis points for the full fiscal year 2025.

Store occupancy costs (rent, utilities) leveraged by higher sales provided significant operating leverage in the third quarter. The leverage in store occupancy costs contributed 110 basis points to the gross margin improvement year-over-year for Q3 2025. This leverage is a direct result of store portfolio optimization, which included closing approximately 21 stores planned for fiscal 2025.

Selling, General, and Administrative (SG&A) expenses for the third quarter of fiscal 2025 were $78 million, which represented 32.7% of net sales. This was an improvement from 34.1% of net sales in the prior year quarter. Zumiez Inc. believed it could hold 2025 SG&A costs relatively flat as a percentage of sales compared to fiscal 2024 results through expense management.

Employee wages and incentive compensation form a key component within SG&A. While store wages were leveraged due to higher sales, SG&A was offset by higher incentive compensation reflecting stronger performance. Furthermore, the first nine months of fiscal 2025 included a negative impact of $3.6 million related to the settlement of a wage and hour lawsuit in California.

The company is maintaining a disciplined approach to physical expansion, which directly impacts capital deployment. Capital expenditures projected between $10 million and $12 million for fiscal 2025 reflects a reduction from the $15 million spent in fiscal 2024 and $20.4 million in fiscal 2023. For context, capital expenditures through the first three quarters of fiscal 2025 totaled $12.5 million.

Here are the key cost-related financial figures from the third quarter and outlook:

Cost Component/Metric	Amount/Percentage	Period/Context
SG&A Expense	$78 million	Q3 2025
SG&A as Percentage of Sales	32.7%	Q3 2025
Gross Margin	37.6%	Q3 2025
Store Occupancy Leverage	110 basis points	Q3 2025 Gross Margin Driver
Projected Fiscal 2025 CapEx	$10 million to $12 million	Fiscal Year 2025 Outlook
CapEx Year-to-Date	$12.5 million	Through November 1, 2025
Inventory Balance	$180.7 million	As of November 1, 2025
Wage Lawsuit Settlement Impact	$3.6 million	Impact on first nine months of fiscal 2025 net results

You should note the planned store closures as a cost management strategy:

• Planned store closures for fiscal 2025: approximately 21 stores.
• Planned US store closures in fiscal 2025: up to 18 stores.
• Planned Canada store closures in fiscal 2025: 1 store.
• Planned Europe store closures in fiscal 2025: 2 stores.

The company expects to open 6 new stores in fiscal 2025.

Zumiez Inc. (ZUMZ) - Canvas Business Model: Revenue Streams

You're looking at how Zumiez Inc. actually brings in the money right now, late in 2025. It's fundamentally about retail transactions across their physical stores and e-commerce sites.

The core of the revenue stream is the retail sales of apparel, footwear, accessories, and hardgoods. This mix is key, though category performance shifts; for instance, footwear was the only category with negative comparable sales in Q3 2025, while women's and hardgoods showed strong double-digit comparable growth.

Here are the top-line numbers from the most recent reported quarter and year-to-date period:

Metric	Amount/Value
Q3 2025 Net Sales	$239.1 million
Fiscal YTD (9 months) Net Sales	$637.7 million
Q3 2025 Comparable Sales Growth	7.6%
North America Q3 2025 Comparable Sales Growth	10.0%

A significant driver in margin improvement and revenue quality is the focus on higher-margin private label merchandise. This strategic push has seen penetration increase substantially over the last few years.

• Private label penetration year-to-date Q3 2025: just under 31% of total product sales.
• Private label penetration in Q2 2025: 30% of total sales.
• Private label penetration five years ago: 11%-12%.

The company is also seeing success from driving full-price sales, which directly supports a higher Average Unit Retail (AUR). This indicates customers are buying items at less discounted rates, which helps the bottom line. The consolidated increase in comparable sales for Q3 2025 was driven by an increase in dollars per transaction, which was, in turn, driven by an increase in Average Unit Retail (AUR).

To give you a clearer picture of the revenue breakdown by geography for the quarter:

Region	Q3 2025 Net Sales
North America	$202.8 million
Other International	$36.3 million

Finance: confirm the Q4 2025 guidance revenue midpoint aligns with the 4.5% to 5% full-year sales growth target by end of week.