West Marine, Inc. (NASDAQ:WMAR) has released its fourth quarter earnings for fiscal 2009. The financial report showed net revenues of $104.2 million for the quarter ended January 2, 2010. The net revenues were adjusted to remove the impact of an extra week in the fourth quarter of fiscal 2008. The adjusted net revenues were increased by $1.7 million. Adjusted comparable store sales for the period also went up by $2.6 million. Net revenues without the adjustment show a 6.2% decrease of $6.9 million, totaling at $104.2 million.
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West Marine, Inc. (West Marine) is a boating supply retailers. The Company operates three segments: Stores, Port Supply (wholesale) and Direct Sales (Internet and call center). During the fiscal year ended January 3, 2009 (fiscal 2008), the Company’s Stores segment generated approximately 88% of its net revenues. West Marine's 344 Company-owned stores are located in 38 states, Puerto Rico and Canada. In addition, it has one franchised store in Turkey. Port Supply segment is the wholesale distributors of marine supply and equipment in the United States. Direct Sales segment, which includes the Internet and call center operations, offers customers worldwide more than 50,000 products and accounted for 6% of its net revenues during fiscal 2008.
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