I know I’ve written about it before, but let’s review the pillars of Zumiez’s strategy as I see them before we get to the numbers. Here’s the link to the 10Q if you’re interested.
- Find and retain employees who are actively committed to the action sports lifestyle and make sure they are customer service focused. I suspect this might restrain their growth sometimes, but that’s okay.
- Have a wide selection of established and new brands, including ones that are hard to find in other places. Manage these brands, and the associated inventory, so you can be generally less promotional than competitors. Their largest vendor represented less than 7% of total sales during the quarter.
- Grow only as fast as you can find the right mall locations and staff.
- Be the only mall retailer that offers hard and soft goods in a specialty shop-like environment.
- Continuously work to have systems and procedures in place that let each store carry what its customers want to buy.