West Marine, Inc. operates as a specialty retailer of boating supplies and accessories. The company offers an assortment of core merchandise for boats, including maintenance items, sailboat hardware, electrical parts, and boating safety products. The company also offers various merchandise for people who enjoy recreation activities on or around the water, such as apparel, footwear, clothing accessories, fishing products, cabin and galley items, and paddle sports equipment. Segments The company operates through three segments: Stores; Port Supply; and Direct-to-Consumer. Stores This segment offers a range of merchandise – approximately 25,000 items - as well as displays designed to help customers make informed product selections. These stores offer an assortment of core boating hardware and supplies, and also present a selection of boating-related lifestyle products, such as apparel. The company’s 300 company-operated stores are located in 38 states, Puerto Rico and Canada. The company serves both retail and wholesale customers. The company also operates large format stores, standard-sized stores, and smaller ‘Express’ stores. Port Supply This segment is a wholesale distributor of marine supply and equipment in the United States. In 2012, the company distributed marine supplies to domestic and international wholesale customers. This segment’s customers include businesses involved in boat sales, boat building, boat commissioning and repair, yacht chartering, marina operations, and other boating-related activities. In addition, this segment sells to government and industrial customers who use its products for boating and non-boating purposes. The company serves the wholesale segment through sales representatives, call center, and wholesale eCommerce Website at portsupply.com. Direct-to-Consumer This segment includes eCommerce Website, direct mail catalogs, and virtual call center transactions. The company’s eCommerce Website provides its customers with access to a selection of approximately 75,000 products, product advisor tips and technical information, approximately 12,000 product videos, and customer-submitted product reviews. This segment also provides customers with access to knowledgeable technical advisors who could assist the company’s customers in understanding the various uses and applications of the products that it sells. It operates a virtual call center from which its associates assist its customers by taking calls from their homes or from its support center in Watsonville, California. Its virtual call center supports sales generated through the company’s eCommerce Website, catalogs, and stores, and provides customer service. Foreign Sales The company promotes and sells its marine products internationally through its Port Supply and Direct-to-Consumer segments. Through its Stores segment, the company operates 10 stores located in Canada. In addition, it has five franchised stores in Turkey. Intellectual Property Private label products, which the company sells under the ‘West Marine’, ‘Black Tip’, ‘Third Reef’, ‘Pure Oceans’, ‘Lifesling’, ‘SeaVolt’, and ‘Seafit’ brand names, are manufactured in Asia, the United States, and Europe. Trademarks and Service Marks The company owns the trademarks and service marks ‘West Marine’ and ‘Port Supply’. These marks and various others are registered with the U.S. Patent and Trademark Office and in certain foreign countries. History West Marine, Inc. was founded in 1976.
west marine inc
(WMAR:Consolidated Issue Listed on NASDAQ Global Select )
500 Westridge Drive
Watsonville, CA 95076-4100
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