B. Riley & Co. will add West Marine and Marine Products Corp. to the list of marine businesses the company’s analysts will cover in an effort to shed light on the “under-followed” boating industry’s nuances.
West Marine is the largest specialty retailer of boating supplies and accessories, with nearly 300 company-operated stores in 38 states, Puerto Rico and Canada and five franchised stores in Turkey.
West Marine’s three-pronged growth strategy has led B. Riley & Co. to introduce the company at a “buy” rating as the investment banking and analyst firm issued its first assessment of the retail chain.
Net revenues rose 0.7 percent at West Marine in the third quarter to $193.4 million and comparable store sales increased by 0.9 percent. E-commerce sales leaped 20.3 percent following a push by the company to ramp up its direct-to-consumer business. CEO Matthew Hyde said in a conference call with investors and analysts that building the…more
Brownie’s Marine Group, a manufacturer and distributor of dive and safety products, announced that West Marine placed Brownie’s products on its website. Brownie’s has enjoyed a business relationship with West Marine for some years and has an extensive presence at several West Marine stores, but this is the first time that Brownie’s products will appear…more
West Marine announced the grand opening Oct. 3-6 of its California flagship store in Newport Beach. The celebration begins daily at 8 a.m. with in-store events, tips from experts, a fashion show, stand-up paddleboard demos and raffles. On the evening of Oct. 3 a “Cruising for Charity” night will support local marine-based non-profits. The new…more
West Marine recently named its top vendors and is seeking local marine-based charities for a program in conjunction with the opening of a new flagship store in Newport Beach, Calif. The retailer announced the winners of its annual Very Important Vendor Awards at its Watsonville Support Center. “West Marine is proud to announce that Navico…more
West Marine recently announced plans to open its first Virginia flagship store in Virginia Beach and is accepting entries for its fifth annual Green Product of the Year Award. The grand opening of the flagship store will be part of a weekend celebration Sept. 12-15 at Loehmann’s Plaza Shopping Center, 4000 Virginia Beach Blvd., in…more
West Marine will hold a grand opening celebration in September for its new store in Key West, Fla., which at 12,000 square feet will be its largest location in the area. Located at 951 Caroline St. (at Grinnell and Caroline streets) in Old Town Key West, the grand-opening celebration will take place Sept. 20-22 with…more
Retail chain West Marine released its fourth annual BlueFuture 2012 Sustainability Report. BlueFuture encompasses West Marine’s companywide efforts focusing on sustainability, including improving and protecting marine environments, reducing the company’s carbon footprint and encouraging people to enjoy being out on the water. From Pure Oceans, the company’s private-label brand of “green” boating products to giving…more
In honor of World Oceans Day on Saturday, West Marine announced the recipients of its annual Marine Conservation Grants program. Grants are being awarded to organizations throughout the United States and Canada that are working to “improve and protect marine habitat,” which West Marine says is a key part of its mission. The retailer said…more