West Marine Reports Gains In 2015 Sales

Marine parts and accessories retailer West Marine has released its 2015 fiscal year fourth quarter and full year financial results, both of which show sales gains over the previous year.

The Watsonville, California-based company reported sales of $130.2 million for its fourth quarter ended January 2, 2016, representing an increase of 0.6% compared to the same period a year ago. Same-store sales increased 8.0% for the quarter.

For the full year, sales were up by 4.3% to $704.8 million. The company’s net income was up to $4.5 million, more than double the $1.9 million reported for the previous year. Same-store sales for 2015 were reported as being up by 6.0%.

The biggest gains were achieved through West Marine’s growing e-commerce website, reported to be up by a whopping 32.5% over fiscal year 2014. E-commerce sales represented 9.5% of total sales, compared to 7.7% of total sales the previous year. The company’s goal is for e-commerce to contribute 15% of total sales.

Additional good news came through results for West Marine’s “waterlife” store sales, which represented 45.7% of total sales compared to 41% one year ago. The company’s goal is to have 50% of total sales realized through its waterlife stores, which carry a broader selection of merchandise than its traditional core-boating product locations.