Genco still has the store further west in Toronto.
On Monday, November 10, 2014 3:57 PM, Russ & Melody via CnC-List
<cnc-list@cnc-list.com> wrote:
Hi Steve,
For other options, you could try leaving Toronto... :)
I wonder about the fate of the Nanaimo West Marine store, serving apopulation
area of 120,000 or so. Especially with the Harbour Chandler amile from the
boats and willing to match Vancouver pricing on everythingand Internet pricing
on many things.
The comment on being "highly seasonal" is a little odd too. I'mjust about on my
way to putter this afternoon on ship's husbandrytasks.
Cheers,Russ
Sweet35-1
At 10:39 AM 10/11/2014, you wrote:
That's a bummer .. the twomarine stores I frequent, West Marine and Genco.
Genco has already closedit's doors on Queens Quay and now when West Marine
closes there will benowhere to go "in a pinch". Everyone else is quite a drive
forme. What other options are there on Toronto's downtownwaterfront???
Steve
Suhana, C&C 32
Toronto
On Mon, Nov 10, 2014 at 1:29 PM, Steve Thomas via
CnC-List<cnc-list@cnc-list.com>wrote:
- Good question.       Â
- They never even tried in South Western Ontario.
- ----- Original Message -----
- From: Bill Coleman viaCnC-List
- To: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
thenext few years, ending its presence in the country.
- “We have some fantastic associates up in Canada. This was a
verydifficult decision for us,†West Marine CEO Matthew Hyde told
analystsduring a quarterly earnings call Oct. 23. “That said, this is all
aboutensuring that when leases come up that we’re making the
rightdetermination about where we invest our money.â€
- The company has seven leases coming up throughout the coming
year,“so we’re going to be in Canada for quite some time,†Hydesaid.
- But the leases that were coming up “didn’t meet our
minimumhurdles,†he said. Also, Canada faces some additional expenses. “Sowe
will be closing our stores in Canada over the next few years,†Hydesaid.
- With the exception of the Toronto store, where the company has
thelease termination at the end of this year, the six additional stores
willoperate “basically through the season,†said CFO ThomasMoran.
- “As you can imagine, Canada is a pretty highly seasonal market.
Sothat’s just a callout about next year.
- But beyond that, the impact on our top-line sales and on in
ourcontribution and profitability is immaterial [in 2015],†Moransaid.
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