West Marine, Inc. reported that net sales for the four weeks ended May 1, 2004 were $67.8 million, a 12.9% increase from net sales of $60.0 million for the four-week period a year ago. Comparable store net sales for April increased 7.6% compared to the same period a year ago.
Net sales for the seventeen weeks ended May 1, 2004 were $197.0 million, an increase of 15.1% from net sales of $171.2 million for the same period a year ago. Comparable store net sales for the latest seventeen weeks increased 9.2% compared to the same period a year ago.
John Edmondson, CEO of West Marine, said, “Although sales in April were less than we had expected, particularly in the Northeast, we still anticipate a strong boating season. In the Northeast, which is a highly seasonal area that contributes nearly half of our second quarter sales, our research indicates that roughly 85% of the boats have yet to splash in the water. With the majority of the quarter's sales still in front of us, we remain optimistic regarding our previous guidance of 7% to 8% comparable store sales for the second quarter. Comparable store sales by region were as follows: West Coast 10.8%, Northeast 10.4% and Southeast 2.0%.”
