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West Marine Reports 14.6% Increase In 2012 Pre-Tax Earnings And Provides 2013 Full-Year Guidance

Fiscal 2013 Guidance

For fiscal year 2013, net revenues are projected to be in the range of approximately $700 million to $715 million. Pre-tax income is expected to range from approximately $25.5 million to $28.5 million, which represents an increase over 2012 of approximately 4.8% to 17.1%. Diluted EPS is expected to range from approximately $0.64 to $0.71. This guidance is based on expected comparable store sales growth of approximately 2.5% to 4.5%. We anticipate capital expenditures for fiscal 2013 to be in the range of approximately $25 million to $29 million.

We also want to provide some insight regarding our expectations for the first quarter of 2013. Currently, we are projecting that comparable store sales will be flat to slightly negative, as we experienced a relatively strong first quarter last year which benefitted from, among other things, favorable weather in many markets. In addition, we believe selling, general and administrative expense comparisons will be unfavorable in the first quarter. As a result, although we expect to deliver profit growth for the year, we are projecting that pre-tax loss for the first quarter of 2013 will be unfavorable when compared to that of the corresponding quarter in 2012.

Webcast and Conference Call

West Marine will hold a conference call and webcast on Thursday, February 21, 2013, at 1:00 p.m. Eastern Time ("EST") to discuss its fourth quarter and full year 2012 financial results. The live call will be webcast and available in real time on the Internet at under "Investor Relations." Participants may also dial (888) 756-1546 in the United States and Canada and (706) 634-1083 for international calls. Please be prepared to give the conference ID number 95376850.

An audio replay of the call will be available February 21, 2013 at 4:00 p.m. EST through February 28, 2013 at 11:59 p.m. EST. The replay number is (855) 859-2056 in the United States and Canada and (404) 537-3406 for international calls. The access code is 95376850.

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