West Marine reports 12-percent sales increase
WATSONVILLE, Calif. – Marine retailer West Marine, Inc.’s (Nasdaq: WMAR) net sales for the five weeks ended April 3 were $62.4 million, a 12.2-percent increase from net sales of $55.6 million for the five-week period a year ago, the company reported in a statement late yesterday
Comparable store net sales for March increased 6.9 percent compared to the same period a year ago. Sales from 62 BoatU.S. stores acquired in January 2003 from Boat America are included in comparable store sales statistics.
13-week sales results also up
Net sales for the 13 weeks ended April 3 were $129.2 million, an increase of 16.2 percent from net sales of $111.1 million for the same period a year ago, West Marine reported.
Comparable store net sales for the latest 13 weeks increased 10.2 percent compared to the same period a year ago, according to the company.
“Sales were very strong for the first three weeks of the month and then slowed as we encountered cold, wet weather in the Northeast and mid-Atlantic areas during the last two weeks of March,” John Edmondson, CEO of West Marine, said. “Our gross margin was strong for the month and, as a result, we remain comfortable with our previous guidance of a loss per share of ($0.16) to ($0.14) versus last year’s loss per share of ($0.32).”
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