West Marine, Inc. (WMAR) Misses Q2 EPS by 18c
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West Marine Reports Second Quarter 2014 Results and Updates 2014 Earnings Guidance
July 24, 2014 6:30 AM EDTWATSONVILLE, Calif., July 24, 2014 (GLOBE NEWSWIRE) -- West Marine, Inc. (Nasdaq: WMAR) today reported financial results for the second quarter ended June 28, 2014.
Net revenues were $236.5 million, a decrease of 0.1% compared to last year. Comparable store sales decreased by 0.7%. Pre-tax income was $32.4 million, compared to pre-tax income of $37.5 million last year. Net income was $18.3 million, or $0.75 per share, compared to net income of $22.2 million, or $0.90 per share last year. The company is lowering 2014 full-year guidance, with pre-tax income now expected to be in the range of $8.5 million to $11.0 million,... More