West Marine reports double-digit rise in net sales
WATSONVILLE, Calif. – Net sales were up 10.3 percent for boating retailer West Marine, Inc., for the four weeks ended May 29, and comparable store net sales for May increased 6.0 percent compared to the same period a year ago, the company reported in a press release yesterday.
Net sales were $82.2 million for the four-weeks ended May 29, an increase from the $74.5 million for the four-week period in 2003, while net sales for the 21 weeks ended May 29, were $279.1 million. That was an increase of 13.6 percent from net sales of $245.7 million for the same period of 2003, West Marine said.
Comparable store net sales for the latest 21 weeks increased 8.2 percent compared to the same period a year ago, according to the company.
“We were very pleased with our May sales results,” said John Edmondson, CEO of West Marine. “Comparable store sales by region for May were as follows: Northeast 5.0 percent, Southeast 3.0 percent, and West Coast 12.5 percent.
“As we’ve previously stated, the month of June is approximately half of our total sales in the second quarter. Based upon the expected impact of Independence Day sales events shifting from July last year into June this year, we remain comfortable with our second quarter comparable store sales guidance of an increase of 7 percent to 8 percent over last year,” he concluded.
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