Comparable store sales up slightly for West Marine
WATSONVILLE, Calif. – Boating supplies retail chain West Marine, Inc. (Nasdaq:WMAR) saw an increase of 0.3 percent in comparable store sales for the 13 weeks ended September 29, it reported in a recent statement.
Net sales for the period were $187.5 million, a decrease of 4.1 percent from net sales of $195.6 million a year ago, following the closing of 35 stores in 2006. For the 39 weeks ended September 29, comparable store sales decreased 1.7 percent, according to West Marine. Net sales for the 39 weeks ended September 29 were $561.4 million, a decrease of 5.3 percent from net sales of $592.8 million a year ago.
Net sales in the stores segment for the third quarter were $166.6 million, a decrease of $7.2 million, or 4.2 percent, compared to the same period last year, primarily resulting from the closure of under-performing locations, West Marine reported.
Port Supply (wholesale) segment sales through the distribution centers were $10.1 million, a decrease of $0.5 million, or 4.8 percent, compared to the same period last year. Port Supply sales to wholesale customers through store locations are included in the Stores segment. Net sales in the Direct Sales segment for the third quarter were $10.8 million, a decrease of $0.3 million, or 2.9 percent, compared to the same period last year, according to the retailer.
“The positive comparable store sales trends this quarter reflect the results of our focus on assortment, customer service, and in-stock levels,” said Peter Harris, West Marine CEO. “Although there are not yet indications of broader positive momentum in the boating market, the northeastern United States season was longer and stronger than in recent years. Florida remains very weak. Soft sales of higher-priced discretionary items, such as electronics, continue. We continue to see growth in the web channel while working our way through website infrastructure transitions.”
- For more of the latest news, click here.
