West Marine Reports a 2.6% Increase in Net Revenues

West Marine, Inc. (Nasdaq: WMAR) today reported net revenues for its 13-week 2010 fiscal third quarter ended October 2, 2010 of $172.6 million, an increase of $4.4 million, or 2.6%, from net revenues of $168.2 million a year ago. Comparable store sales increased 3.7% or $5.2 million. Revenues from stores opened during 2009 and the first three quarters of 2010 were $9.2 million. However, the impact of stores closed during these same periods effectively reduced revenues by $8.3 million. The majority of the closures occurred in connection with our on-going “real estate optimization” program to evolve into having fewer, larger stores.