Hurricane Rita had little effect on West Marine
WATSONVILLE, Calif. – West Marine, Inc.’s (Nasdaq: WMAR) net sales for the 13 weeks ended October 1 were $188.6 million, an increase of 3 percent from net sales of $183.1 million a year ago, the company reported in a recent statement.
Comparable store sales for the third quarter of 2005 decreased 1.2 percent, compared to a comparable store sales decrease of 7.7 percent reported for the third quarter a year ago.
Third quarter comparable store sales by region were as follows: Northeast down 4.7 percent); Southeast up 4.6 percent; Western down 2.4 percent.
Net sales for the 39 weeks ended October 1 were $567.5 million, an increase of 0.5 percent from net sales of $564.9 million for the same period a year ago. Comparable store sales for the latest 39 weeks decreased 3.5 percent, compared to a comparable store sales increase of 1.1 percent reported for the same period a year ago.
“Third quarter sales were in the range that we expected to see when we issued our latest guidance in mid-September,” said West Marine CEO Peter Harris. “Hurricane Rita had a minimal effect on our sales and operations, especially when compared to the destruction caused by Hurricane Katrina, which also had a significant impact on higher fuel prices and diminished consumer spending nationwide.”
The company said it will update guidance for the year in its upcoming third quarter earnings conference call on Oct. 27.
- For more of the latest news, click here.
