WATSONVILLE, Calif., Feb. 27, 2014 (GLOBE NEWSWIRE) -- West Marine, Inc. (Nasdaq:WMAR) today reported unaudited financial results for the fiscal year ended December 28, 2013.
- Net revenues were $663.2 million, a decrease of 1.8% compared to last year.
- Comparable store sales also decreased by 1.8%.
- Pre-tax income was $15.3 million, compared to pre-tax income of $24.5 million last year.
- Direct-to-consumer sales increased by 15.7% over last year, driven by our strategic investments in eCommerce.
- Sales in our merchandise expansion categories (which include footwear, apparel, clothing accessories, fishing products and paddle sports equipment) were up 6.1%, with sales of core usage-related products declining by 2.9%.
- The company remained debt-free at year-end and had $98.8 million available on its revolving credit line at the end of the period.