West Marine net sales for the four weeks ended July 31, 2004, were $71.8 million, a 5.6% decrease compared to net sales of $76.1 million for the same four-week period a year ago. Comparable store net sales for July decreased 9.5% compared to the same period a year ago.
Net sales for the thirty weeks ended July 31, 2004, were $453.6 million, an increase of 7.9% over net sales of $420.2 million for the same period a year ago. Comparable store net sales for the latest thirty weeks increased 3.2% compared to the same period a year ago.
John Edmondson, CEO of West Marine, said: “As we mentioned last month, consumer demand has softened recently, impacting our sales across the country much as it has other retailers. However, our gross margin continues to exceed expectations nicely. Comparable store sales by region for July were as follows: Northeast -15.1%; Southeast -4.3%; and West Coast -4.1%. Poor weather in the Northeast and parts of the mid-Atlantic and Great Lakes areas during July also contributed to the poor sales results in our Northeast region.”
