03.29.19 – 04.06.19
03.30.19 – 04.13.19
Revenue rose, but profits fell in the third quarter at West Marine and the retailer saw its operating results decline after seven quarters of improvement. Net revenue was $172.5 million for the 13-week period that ended Oct. 2, an increase of 2.6 percent from $168.2 million in the same quarter a year earlier. Comparable-store sales for the Watsonville, Calif.-based company rose $5.2 million, or 3.7 percent. A driver of this growth was gains in sales to wholesale customers through the company's stores. Net income was $7.4 million, or 32 cents a share, compared with $8.5 million, or 38 cents a share, a year earlier. For the year to date, earnings per share were $1.44, compared with $1.13 for the same period last year. Income before taxes for the quarter was $7.6 million, a decrease of $1.3 million, or 14.8 percent, from $9 million a year earlier. The release.
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