Re: Stus-List West Marine leaves Canada

[Russ & Melody via CnC-List]

Hi Steve,

For other options, you could try leaving Toronto... :)
I wonder about the fate of the Nanaimo West 
Marine store, serving a population area of 
120,000 or so. Especially with the Harbour 
Chandler a mile from the boats and willing to 
match Vancouver pricing on everything and Internet pricing on many things.

The comment on being "highly seasonal" is a 
little odd too. I'm just about on my way to 
putter this afternoon on ship's husbandry tasks.

        Cheers, Russ
        Sweet 35-1




At 10:39 AM 10/11/2014, you wrote:
That's a bummer .. the two marine stores I 
frequent, West Marine and Genco. Genco has 
already closed it's doors on Queens Quay and now 
when West Marine closes there will be nowhere to 
go "in a pinch". Everyone else is quite a drive 
for me. What other options are there on Toronto's downtown waterfront???

Steve
Suhana, C&C 32
Toronto


On Mon, Nov 10, 2014 at 1:29 PM, Steve Thomas 
via CnC-List <<mailto:cnc-list@cnc-list.com>cnc-list@cnc-list.com> wrote:
Good question.       Â
They never even tried in South Western Ontario.
----- Original Message -----
From: <mailto:cnc-list@cnc-list.com>Bill Coleman via CnC-List
To: <mailto:cnc-list@cnc-list.com>cnc-list@cnc-list.com
Sent: Monday, November 10, 2014 1:10 PM
Subject: Stus-List West Marine leaves Canada



Wonder why?





Â





West Marine plans exit from Canadian market




----------
Marine retailer West Marine will close 10 stores 
in Canada during the next few years, ending its presence in the country.

“We have some fantastic associates up in 
Canada. This was a very difficult decision for 
us,” West Marine CEO Matthew Hyde told 
analysts during a quarterly earnings call Oct. 
23. “That said, this is all about ensuring 
that when leases come up that we’re making the 
right determination about where we invest our money.”

The company has seven leases coming up 
throughout the coming year, “so we’re going 
to be in Canada for quite some time,” Hyde said.

But the leases that were coming up “didn’t 
meet our minimum hurdles,” he said. Also, 
Canada faces some additional expenses. “So we 
will be closing our stores in Canada over the next few years,” Hyde said.

With the exception of the Toronto store, where 
the company has the lease termination at the end 
of this year, the six additional stores will 
operate “basically through the season,” said CFO Thomas Moran.

“As you can imagine, Canada is a pretty highly 
seasonal market. So that’s just a callout about next year.

But beyond that, the impact on our top-line 
sales and on in our contribution and 
profitability is immaterial [in 2015],” Moran said.
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