West Marine, Inc. reported that sales for the second quarter would be approximately $252 million to $256 million. Comparable store sales for the quarter are estimated to increase by approximately 4% to 5%.
John Edmondson, CEO of West Marine stated, “We now estimate that our June comparable sales will increase between 0% to 3%, approximately seven million dollars less than expected. As also reported by several major retailers, we have been negatively impacted by unseasonably cool and wet weather in some key markets throughout the country.”
“Stronger than anticipated margins will help offset the lower sales. As a result, we are revising our second quarter earnings estimate to $1.16 to $1.18 per share versus our original guidance of $1.20 to $1.23 per share.”