WATSONVILLE, Calif. — West Marine Inc. today reported net revenues for its 2010 fiscal fourth quarter, which ended Jan. 1, of $107.3 million, an increase of $3.4 million, or 3.3 percent, from net revenues of $103.9 million a year ago.
Net revenues for the 52 weeks ended Jan. 1 were $622.8 million, an increase of $34.4 million, or 5.8 percent, from net revenues of $588.4 million for the same period a year ago.
"We are delighted to have finished 2010 with overall sales growth of 5.8 percent to $623 million in total net revenues," Geoff Eisenberg, CEO of West Marine, said in a release. "The revitalization of West Marine during the last few years, in an environment that has been so very challenging for boating, has resulted in both total sales and comparable store growth for six consecutive quarters when you adjust for the calendar shift in 2008 and evaluate the reporting periods so that both 2008 and 2009 are based on the same number of weeks.
"We were quite pleased with our fourth quarter total net sales growth of 3.3 percent. While unfavorable weather during November and December negatively impacted us in many markets, we experienced noteworthy increases with some of our key strategies, including our new larger store formats, casual and performance apparel initiatives, expansion of our Port Supply wholesale business through our more than 320 West Marine stores, and our increased focus on westmarine.com."
To read more, click here: West Marine Fourth Quarter Results.
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