Zumiez Inc. is going public.
The Everett-based mall retailer on Thursday filed its intent to sell up to $57.5 million worth of stock in an initial public offering.
The documents filed with the federal Securities and Exchange Commission don’t list how many shares the company plans to sell, an initial offering price or the date shares will go on the market.
Efforts to discuss the stock offering with company officials were unsuccessful. A spokeswoman said they wouldn’t be returning a phone call from The Herald because the company is a “quiet period” imposed by the SEC for companies about to go public.
The company does plan to list its stock on the Nasdaq market under the symbol ZUMZ, according to the SEC documents.
Zumiez (pronounced zoomies) has its headquarters on Merrill Creek Parkway and has one store in Snohomish County at the Everett Mall. It’s one of 140 stores Zumiez operates in 18 states, according to the documents filed with the SEC.
The company specializes in action sports apparel, including clothing, shoes, equipment and accessories geared toward skateboarders, snowboarders, surfers and bicycle and motorbike riders ages 12 to 24.
Zumiez was formed in 1978 and has been expanding aggressively since 2002, when a private investment group, Brentwood Private Equity III LLC, acquired a minority interest in the company.
Over the past five years, the company has grown from 53 stores to 140, according to the filings. During that period, sales grew at an annual rate of 27.5 percent, the company said. In its fiscal year that ended Jan. 31, 2004, Zumiez had sales of about $117.9 million and a profit of almost $4.5 million.
The company intends to continue that growth by “opening new stores and continuing to generate sales growth through improved store-level productivity,” according to the documents.
That plan includes opening 35 new stores this year and maintaining an “aggressive pace” in opening stores after that.
In the filing, Zumiez said it tries to bring “the look and feel of an independent specialty shop” to its stores by featuring couches and “action-sports-oriented” video games, which encourage its young customers to stay longer and also make the stores a destination within shopping malls.
The company also seeks “high-energy sales personnel” who use the products they sell. That, Zumiez said, helps them provide better service and helps the company spot and react to emerging trends in a volatile business.
Reporter Bryan Corliss: 425-339-3454 or corliss@heraldnet.com.
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