West Marine, Inc. reported that net sales for the four weeks ended April 26, 2003 were $60.0 million, a 14.0% increase from net sales of $52.7 million for the same period a year ago. Comparable store net sales for the four weeks ended April 26, 2003 decreased 11.5% from the same period a year ago.
Net sales for the seventeen weeks ended April 26, 2003 were $171.2 million, an increase of 14.2% from net sales of $149.8 million for the same period a year ago. Comparable store net sales for the latest seventeen weeks decreased 10.6% compared to the same period a year ago.
John Edmondson, President and CEO of West Marine said, “April sales were slightly worse than our expectations for the month due primarily to regional cold weather. Comp sales by region were Northeast -17.1%, West coast -14.7%, and Southeast -7.1%. Month to date sales in May are in line with our expectations and we are definitely seeing a changing business climate as the weather is breaking.”
