West Marine, Inc. reported that net sales for the four weeks ended January 31, 2004 were $31.4 million, a 28.2% increase from net sales of $24.5 million for the four week period a year ago. Comparable store net sales for January increased 15.3% compared to the same period a year ago.
Sales from 62 BoatU.S. stores acquired in January 2003 from Boat America are included in total sales, but are not reflected in comparable store sales statistics.
John Edmondson, CEO of West Marine, said, “We are very pleased with our January comparable store sales increase. Our sales strengthened throughout the month. However, due to changes in our promotional calendar, we believe some sales may have shifted into January from February. In light of that, and because January 2003 sales represented only about 22% of total first quarter sales last year, we remain comfortable with our previous first quarter guidance of sales ranging from $126 million to $128 million and a loss per share ranging from ($0.19) to ($0.17).
“Electronics sales were very strong in January, increasing by 23% over last year in our comparable sales stores. Comparable store sales by region for January 2004 were as follows: Northeast 29.3%, Southeast 17.2% and West Coast 8.1%.”
