Business
OneWater Marine Inc. Provides Business Update
BUFORD, Ga., June 03, 2020 (GLOBE NEWSWIRE) -- OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or “the Company”) today provided a business update for its
About this update from Onewater Marine Inc.
[{"type":"text","content":"BUFORD, Ga., June 03, 2020 (GLOBE NEWSWIRE) -- OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or “the Company”) today provided a business update for its fiscal third quarter of 2020.\n For the fiscal third quarter-to-date ended May 31, 2020, revenue increased in excess of 30% and same-store-sales topped 25% compared to the prior year. Despite several stores being impacted by government shelter-in-place orders, both sales and same-store-sales continued to exceed the Company’s expectations. OneWater remains optimistic that these positive sales trends will continue based on the current volume of inbound leads. “As many summer activities that have historically competed for time on the water have been canceled, our customers are turning to boating as a safe, outdoor leisure activity that allows families to come together and maintain social distancing. In addition, our stores and employees have proven their adaptability as we are able to engage in new, and often virtual, ways to meet the increased demand we are experiencing. As a result, the momentum we saw in April has continued as we moved through the quarter. In addition, our finance & insurance income further accelerated in May topping a very strong April,” said Austin Singleton, Chief Executive Officer of OneWater. “There are still many unknowns as states begin to re-open, and the strength of the consumer demand remains uncertain. We are, however, optimistic that the desire to get out on the water in this unique time of our lives will continue to support demand during the summer selling season.” About OneWater Marine Inc. OneWater Marine Inc. is one of the largest and fastest-growing premium recreational boat retailers in the United States. OneWater operates 63 stores throughout 11 different states, eight of which are in the top twenty states for marine retail expenditures. OneWater offers a broad range of products and services and has diversified revenue streams, which include the sale of new and pre-owned boats, parts and accessories, finance and insurance products, maintenance and repair services and ancillary services such as boat storage. Investor or Media Contact:Jack EzzellChief Financial [email protected] Cautionary Statement Concerning Forward-Looking Statements This press release may contain “forward-looking statements” within the meaning of the Private Secu...