Skip to main content

MarineMax to close more stores

MarineMax continues to close stores in response to economic conditions and expects to have around 55 locations by October, president and CEO William McGill said in an e-mail to Soundings Trade Only.

"With a market for new sales going from over 300,000 new units per year to estimates of around 130,000 this calendar year, it is prudent for MarineMax to adjust and right-size our company, not only from an inventory perspective, but also expense standpoint," McGill said.

At its height, MarineMax had 92 stores and currently has 62. McGill did not specify where the closings would take place.

"We have continued to evaluate our footprint with an emphasis on determining if the market justifies our being there or if we can better leverage adjacent stores and still serve our customers," McGill said. "When October arrives, we will be in the neighborhood of 55 locations, with many of the team members from the closed stores relocated."

Still, he added, MarineMax will be "standing tall" when the economy improves.

"We understand the needs of our customers and support their lifestyle with the best team in the industry, the best products supported by the best manufacturers, the right strategies and the financial strength to endure this weakening perfect storm," he said.

— Beth Rosenberg

Related

VOLVO-EARNINGS

Volvo Penta Reports Q4, FY22 Results

Net sales of $470 million for the quarter were a 33% increase compared to the prior year period.

Pulse-Report

DEALERS: Are You Improving the Service Experience?

Our monthly Pulse Report survey asks this and other questions about your dealership. Take the survey here.

NMRA-SCHOLARSHIP

NMRA Sets Scholarship Deadline

Students pursuing education in the marine trades can apply for the National Marine Representatives Association awards until April 1.

MARINE-PRODUCTS

Marine Products Reports Record Q4

The builder of Chaparral and Robalo boats reported net sales were up 42% for the quarter and 28% for fiscal year 2022.

1_SHURHOLD

Shurhold Appoints COO

Forrest Ferrari has years of management, business development, IT and quality-assurance experience.

MOBILE-CATCH-CENTER

RBFF, Pure Fishing Partner for a First Catch Center

Pure Fishing will equip a mobile trailer with tackle and gear to bring fishing experiences to areas of South Carolina where participation is low.

Norm

An Oft-Overlooked Sales Opportunity

A recent report from the Recreational Boating & Fishing Foundation showed that women comprise 37% of all anglers. If you haven’t tapped this segment, you’re missing out.

1. 2023 new boat retail outlook

Too Many High-Priced Boats

To wrap up 2022, marine retailers reported lower demand, expressed more negative sentiment and voiced concerns about rising inventory. Boat prices and the economy remained top of mind for dealers in December.

Soundings Nov 2022

New-Boat Registrations Continue to Slide

As the gaudy sales figures from the pandemic continue to return to more realistic numbers, the main segments of the recreational boating industry saw new-model registrations of 4,421 in November, a 30.3% drop from 6,340 during the same time in 2021. .