West Marine, Inc. (NASDAQ:WMAR) today announced updated expectations for 2016. The company now expects GAAP pre-tax profits to be in the range of $9.0 million to $11.0 million. Full year net revenue is now expected to be flat to down slightly compared with last year with same store sales in the range of flat to up 1 percent.
"We continue to make solid progress executing our long-term growth strategies which include increasing the size of our eCommerce channel, expanding our non-core merchandising offerings, and optimizing our store fleet," said Matt Hyde, CEO of West Marine. “In contrast to the growth in sales to our retail customers, volume to our professional customers has declined as we continue to strive for greater profitability. Based on current trends, we think it is prudent to adopt a slightly more conservative outlook for the remainder of the year.”