West Marine Inc posted net revenue of $104.2 million for the fourth quarter, a 6.2% decrease from $111.1 million last year.
The Watsonville, CA firm reported net direct marketing revenue of $7.3 million for the quarter ended Jan 2, a 10.3% decrease from $7.7 million in the prior year.
Management attributed this in part to an extra week in last year’s fourth quarter as well as to general economic conditions.
"It’s certainly noteworthy that despite the still-difficult market environment, when you evaluate the reporting periods so that both 2008 and 2009 are based on the same number of weeks, we’ve achieved two consecutive quarters of comparable store and overall company growth,” said CEO Geoff Eisenberg, in a statement.
West Marine will report its full fourth quarter and 2998 financial results March 4.
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