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West Marine Inc Lowers FY 2013 Guidance And Comparable Store Sales Guidance

Thursday, 25 Jul 2013 06:30am EDT 

West Marine Inc announced that first half of 2013, the sales results were lower than expected, driven primarily by unusually cold, rainy and windy weather in many of markets, which in turn resulted in a reduction in boat usage. Consequently, the Company are lowering the previously-issued sales and earnings guidance for fiscal 2013. The Company now expects pre-tax income in a range of $15.5 million to $17.5 million, approximately $9.0 million lower than previously-communicated pre-tax income guidance. This will result in diluted earnings per share (EPS) of approximately $0.37 to $0.42. Comparable store sales for fiscal 2013 are anticipated to be down 2.0% to 4.0% , with total revenues expected to be in the range of $650 million to $660 million, $27.5 million lower than previously-communicated guidance. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $0.66 for fiscal 2013. 

Company Quote

-0.9 -7.41%
27 Feb 2015