West Marine Quarterly Sales Fall

Same-store sales, or sales at stores open at least a year, is a key measure of retailer performance, because it measures growth at existing stores rather than from newly opened ones.

The company said it generated $113.3 million in revenue in the 13 weeks ended March 29, down from $125.8 million a year earlier.

Sales in the company's stores fell 8.9 percent to $97.1 million, while wholesale sales sank 12.9 percent to $9.1 million. Direct sales fell 19.2 percent to $7.1 million.

Chief Executive Geoff Eisenberg said the company was "anxious as we enter the prime boating season," which begins later this month or in early May.

"With significant softness in the boating equipment market, we had planned for a material reduction in comparable-store sales, and nothing that occurred in the first quarter gave any indication that sales would rebound in the short term," he said in a statement.