West Marine’s Q3 revenue rises
West Marine (Nasdaq: WMAR) said its third-quarter revenue rose 2.6 percent, boosted by wholesale growth.
In the three months ended Oct. 2, revenue rose to $172.6 million from $168.2 million in the year-ago quarter.
The company attributed the increase to sales gains with wholesale customers. Revenue in stores open at least one year rose 3.7 percent.
Revenue from stores opened during 2009 and the first three quarters of 2010 totaled $9.2 million, but the company closed stores during the same period, reducing revenue by $8.3 million, it said. West Marine said it has an ongoing "real estate optimization" program with the goal of having fewer, larger stores.
--Compiled by Wendy Geister
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