West Marine Inc. reported a net loss of $5.5 million for the first quarter, compared a net loss of $3.1 million last year.
The boating supplies direct marketer reported net sales of $125.3 million for the quarter ended April 2, off 3% from $129.2 million last year.
“The first quarter results are disappointing, primarily because boating season activity was delayed in markets from the mid-Atlantic states up into the northeast and across to the Great Lakes,” said Peter Harris, CEO of the Watsonville, CA firm in a statement. ” Put into context, however, the first quarter typically is less than 20% of our annual revenue and also our weakest quarter.”
