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MarineMax to close more stores - Trade Only Today

MarineMax to close more stores

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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

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