WATSONVILLE, Calif. – Boating supplies and apparel retailer West Marine, Inc. (Nasdaq: WMAR) has reported that net sales for the four weeks ended November 22 were $34.5 million, a 27.7-percent increase from net sales of $27.0 million for the same period a year ago.
Comparable store net sales for the four weeks ended November 22 increased 4.5 percent from the same period a year ago, West Marine reported in a statement yesterday.
Sales from 62 BoatU.S. stores acquired in January 2003 from Boat America are included in total sales, but are not reflected in comparable store sales statistics, according to the company.
Net sales for the 47 weeks ended November 22 were $607.3 million, an increase of 23 percent from net sales of $493.8 million for the same period a year ago. Comparable store net sales for the latest 47 weeks decreased 2.8 percent compared to the same period a year ago, West Marine stated.
"We were very pleased with our November sales results," said John Edmondson, CEO of West Marine. "As anticipated, sales strengthened throughout the month. Sales by region were Southeast 6.3 percent, Northeast 4.6 percent, and West Coast 1.0 percent."
Edmondson said that, as a result, the company remains comfortable with its fourth quarter guidance for sales in the range of $125 million to $130 million.
"Our estimate for a fourth quarter loss remains in the range of ($0.11) to ($0.09) per share, versus last year's loss of ($0.07) per share," he added.
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