Everett-based Zumiez Inc. reported its September sales rose nearly 27 percent, to $19.5 million, over the same month last year. Same-store sales grew by 10 percent during the month, with the rest of the growth coming from the teen clothing retailer’s new locations. Zumiez has 158 stores across the nation.
Office vacancies below 20 percent
Colliers International and CB Richard Ellis reported separately this week that between 15 percent and 17.6 percent of Snohomish County’s office space was empty during the third quarter. The reports came out after Cushman &Wakefield reported the office vacancy rate at 17 percent. Colliers and CB Richard Ellis also reported that 18 to 19 percent of the county’s industrial space was vacant.
B/E Aerospace posts order backlog
B/E Aerospace said Wednesday that its orders backlog had hit a record $1 billion during the third quarter. As a result, the company raised its revenue guidance for 2006 to about $1 billion, with earnings of $1.10 a share. The company cited “robust” demand for its premium-class products, two recent contracts to overhaul coach-class cabins for airlines, and three new contracts to provide oxygen systems to business jets. B/E is the Florida-based parent company of Flight Structures Inc. of Marysville.
Rising energy costs drive up other prices
The economy received another inflation warning on Wednesday, when a survey of industry executives showed that energy costs drove prices higher in September while the services sector slowed. The report reinforced expectations that the Federal Reserve would continue to raise rates as the economy struggles with rising fuel costs aggravated by Hurricane Katrina. The Institute of Supply Management, which conducted the survey, said its non-manufacturing business activity index was at 53.3 percent in September, down from August’s reading of 65 percent.
General Motors sells its Fuji stake
General Motors Corp.’s decision to sell its 20 percent stake in Fuji Heavy Industries will help the troubled U.S. automaker streamline its business and raise cash, auto analysts said Wednesday, but some questioned Toyota Motor Corp.’s purchase of GM’s stake. Toyota said Wednesday it has agreed to buy an 8.7 percent stake in Fuji from GM for about $315 million. Fuji is a rival Japanese automaker that makes Subaru cars. GM said “there were not enough collaborative projects” to sustain the alliance and that it planned to find other partners and markets in the Asia Pacific region.
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