West Marine reports 3Q revenuesPosted on
West Marine today reported net revenues of $172.6 million for the third quarter, which ended Oct. 2. That’s an increase of 2.6 percent from year-earlier revenues of $168.2 million.
Comparable-store sales increased 3.7 percent, or $5.2 million, in the quarter. Revenues from stores that opened during 2009 and the first three quarters of 2010 were $9.2 million. However, the impact of stores that closed during those periods effectively reduced revenues by $8.3 million.
“We were quite pleased with our comp-store and total revenue increases, especially in light of two challenges we faced during the third quarter; we believe there was a general softening in the boating equipment market after the Fourth of July and we were past the year-over-year positive sales impact of the Boater’s World closure,” CEO Geoff Eisenberg said in a statement.
Net revenues in the stores segment for the fiscal third quarter of 2010 were $157.5 million, an increase of $6 million, or 4 percent, compared with the same period last year.
West Marine’s Port Supply (wholesale) segment revenues through the distribution centers for the fiscal third quarter of 2010 were $6.7 million, a decrease of $800,000, or 11.1 percent, compared with the same period last year.
Net revenues in the direct-sales segment for the fiscal third quarter of 2010 were $8.4 million, a decrease of $800,000, or 8.3 percent, compared with the same period last year.
Net revenues for the 39-week period were $515.5 million, an increase of $31 million, or 6.4 percent, from net revenues of $484.5 million for the same period a year earlier.
West Marine will hold a conference call at 1 p.m. (EDT) Oct. 28 to discuss its third-quarter results.
Welcome to TradeOnlyToday’s premium content! To continue reading, please register now, for access to 10 free stories per month. Or subscribe, for unlimited access to all TradeOnlyToday content!
Basic subscription: Registered members get free access to 10 premium content stories each month!
Individual subscription: $29 for unlimited site access for one year.
Small Business subscription: $140 for unlimited site access for up to 10 members of a company for one year.
Corporate subscription: $300 for unlimited site access for all members of a company for one year.
You may close this dialog after seconds.