West Marine, Inc. saw comps sales inch up 0.3% for the
third quarter as net sales decreased 4.1% to $187.5 million from $195.6 million
last year, following the closing of 35 stores in 2006. The company’s
Stores segment posted a 4.2% decrease in sales for the quarter to $166.6
million due to the closure, while the Port Supply (wholesale) business posted a
4.8% decrease in sales to $10.1 million. Net sales in the Direct Sales segment
decreased 2.9% to $10.8 million for the quarter.
Florida
was described as “very
weak,” but the Northeast was said to have had a “longer and
stronger” season than experienced in recent years. Higher ticket items,
like electronics continued to experience soft sales.