Fourth quarter results benefitted from an extra week, but sales and profits both handily exceeded expectations, including an 8% jump in revenues to $3,876,171,000 from $3,596,713,000 and net income that was 26% higher at $296,433,000 from $235,621,000.

A difficult year for ZUMZ ended on a brighter note, as revenues ticked higher, increasing 1% to $281,822,000 from $280,110,000, but a $41.1 million goodwill impairment charges turned what would have been a nice profit into a $33,487,000 loss, compared to net income of $11,432,000 in Q4 ’22.

Net loss ballooned to $20,552,000 in the fourth quarter from a loss of $104,000 on sales that were down 4% to $173,020,000 from $180,350,000 attributed to lower traffic, with similar results across categories.

Impairment charges of $249.0 million sent the bottom line to a $210,862,000 loss against last year’s $19,508,000 profit for the fourth quarter as sales dipped 16% to $165,318,000 over $197,243,000.

Adjusted sales of sporting goods/hobby/book and music stores ticked down 3% last month to $8,461 million from $8,724 million, according to Commerce Dept. data, and were flat sequentially from Jan.

The running specialty operator is bolstering its store support team with several new hires and promotions.

The athletic and recreational apparel brand is shuttering all 16 of its brick-and-mortar stores by the end of this week and will transition to an online-only business, the New York Times reported.