Fortune optimistic about MarineMax’s future
CLEARWATER, Fla. – MarineMax has undergone phenomenal growth since its IPO in 1998 – growth that appears likely to continue.
Its stock price has riser 330 percent over the past five years, and its same store sales growth has averaged almost 10 percent since the IPO, Fortune magazine reported in an article today.
Then, there is the jump from six locations in 1998 to 77 today.
The magazine suggested that MarineMax outperforms the industry because of its commitment to employee excellence and its implementation of systems and processes. It pointed out, for example, that potential employees are interviewed by as many as 10 staff members and that the retailer requires online training for each new hire.
“The entire supply chain in the boating industry is somewhat antiquated,” analyst Ed Aaron told the magazine. “[MarineMax’s] selling practices are just superior.”
That, in addition to “an abundance of acquisition opportunities,” make MarineMax primed for further growth, even if the boating business experienced a downturn, Fortune concluded.
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