18. Segment Reporting

We identify our operating segments according to how our business activities are managed and evaluated. As of January 31, 2026, our operating segments included our United States operations, Canadian operations, European operations, and Australian operations. Our operating segments have been aggregated and are reported as one reportable segment based on the similar nature of products sold, production, merchandising and distribution processes involved, target customers and economic characteristics. We continually monitor and review our segment reporting structure in accordance with authoritative guidance to determine whether any changes have occurred that would impact our reportable segments.

 

We identified our CEO as our CODM as the CEO allocates resources and evaluates the performance of our operating segments based on our key performance indicators as outlined in Part II Item 7 of this Form 10-K.

 

The CODM uses these measures to monitor trends in year over year performance comparisons, sequential quarter performance comparisons, compare actual results to forecasts and to make investment decisions.

The following table is a summary of significant segment expenses and results of operations:

 

 

 

 

Fiscal Years Ended

 

 

 

 

January 31, 2026

 

 

February 1, 2025

 

 

February 3, 2024

 

Net sales

 

$

 

929,057

 

$

 

889,202

 

$

 

875,486

 

Product COGS (1)

 

 

 

394,213

 

 

 

385,703

 

 

 

385,796

 

Other COGS (2)

 

 

 

202,309

 

 

 

200,459

 

 

 

208,800

 

Gross profit

 

 

 

332,535

 

 

 

303,040

 

 

 

280,890

 

Store SG&A (3)

 

 

 

223,426

 

 

 

222,326

 

 

 

223,863

 

Corporate SG&A (4)

 

 

 

92,068

 

 

 

78,764

 

 

 

121,816

 

Operating profit (loss)

 

$

 

17,041

 

$

 

1,950

 

$

 

(64,789

)

 

(1)
Product COGS consists of branded merchandise costs and our private label merchandise costs including design, sourcing, importing, and inbound freight costs.
(2)
Other COGS consists of buying, occupancy, ecommerce fulfillment, distribution and warehousing costs (including associated depreciation) freight costs for store merchandise transfers, inventory shrinkage and impairment of operating lease right-of-use-assets.
(3)
Store SG&A consists of store personnel wages and benefits, freight costs for merchandise shipments from the distribution centers to the stores, store supplies, store depreciation, the cost of our website and supporting teams, and other costs allocated to the operations of our stores.
(4)
Corporate SG&A consists of administrative staff wages and benefits, information technology expenses, depreciation on fixed assets at the home office, facility expenses, impairment costs, training expenses, advertising and marketing costs.

The following table is a summary of product categories as a percentage of merchandise sales:

 

 

Fiscal Year Ended

 

 

 

January 31, 2026

 

 

February 1, 2025

 

 

February 3, 2024

 

Men's Apparel

 

 

47

%

 

 

48

%

 

 

47

%

Hardgoods

 

 

11

%

 

 

10

%

 

 

12

%

Accessories

 

 

16

%

 

 

16

%

 

 

17

%

Footwear

 

 

12

%

 

 

14

%

 

 

14

%

Women's Apparel

 

 

14

%

 

 

12

%

 

 

10

%

Total

 

 

100

%

 

 

100

%

 

 

100

%

The following tables present summarized geographical information (in thousands):

 

 

Fiscal Year Ended

 

 

 

January 31, 2026

 

 

February 1, 2025

 

 

February 3, 2024

 

Net sales (1):

 

 

 

 

 

 

 

 

 

United States

 

$

707,706

 

 

$

674,158

 

 

$

654,153

 

Foreign

 

 

221,351

 

 

 

215,044

 

 

 

221,333

 

Total net sales

 

$

929,057

 

 

$

889,202

 

 

$

875,486

 

 

 

 

January 31, 2026

 

 

February 1, 2025

 

Long-lived assets (2):

 

 

 

 

 

 

United States

 

$

153,506

 

 

$

157,296

 

Foreign

 

 

104,911

 

 

 

106,117

 

Total long-lived assets

 

$

258,417

 

 

$

263,413

 

(1)
Net sales are allocated based on the location in which the sale was originated. Store sales are allocated based on the location of the store and ecommerce sales are allocated to the U.S. for sales on zumiez.com and to foreign for sales on zumiez.ca, blue-tomato.com and fasttimes.com.au.
(2)
Long-lived assets include fixed assets, net and operating lease right-of-use assets.
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Historical Timeline

Fiscal YearFiled
2026Mar 12, 2026Showing above
2025Mar 13, 2025
2024Mar 14, 2024
2023Mar 20, 2023
2022Mar 14, 2022
2021Mar 15, 2021
2020Mar 16, 2020
2019Mar 18, 2019
2018Mar 19, 2018
2017Mar 13, 2017
2016Mar 14, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.