Summary of WEST MARINE INC

Results of Operations and Financial Condition, Financial Statements and Exhibits

Item 2.02. Results of Operations and Financial Condition.

On October 23, 2008, we announced our consolidated financial results for the 13-week period (third quarter) ended September 27, 2008 and for the 39-week period ended September 27, 2008. A copy of this press release is attached hereto as Exhibit 99.1.

The press release contains disclosure of adjusted pre-tax income, adjusted net income and adjusted earnings per share for each of the 13 weeks ended September 27, 2008 and the 39 weeks ended September 27, 2008. Adjusted pre-tax income, adjusted net income and adjusted earnings per share are not measures of financial performance calculated in accordance with accounting principles generally accepted in the United States ("GAAP"). The press release contains tabular reconciliations of adjusted pre-tax income, adjusted net income and adjusted earnings per share for each of the 13 weeks ended September 27, 2008 and the 39 weeks ended September 27, 2008 to income before taxes, net income
(loss) and diluted net income (loss) per share for each of the 13 weeks ended September 27, 2008 and the 39 weeks ended September 27, 2008, respectively, from our financial statements, which are presented in accordance with GAAP. In addition, the press release contains disclosure of selling, general and administrative expense ("SG&A") excluding Canadian foreign currency exchange adjustments for the 13 weeks and September 27, 2008 and SG&A excluding expenses related to cooperating with the previously-disclosed SEC inquiry and Canadian foreign currency exchange adjustments for the 39 weeks ended September 27, 2008. The information needed to reconcile adjusted SG&A to SG&A calculated in accordance with GAAP is contained in the discussion of SG&A for the respective periods. Management believes that adjusted pre-tax income, adjusted net income, adjusted earnings per share and adjusted SG&A each provide useful data to evaluate our financial performance from year-to-year and uses these measures for such purpose. Adjusted pre-tax income, adjusted net income and adjusted earnings per share should not be considered as an alternative to income before taxes, net income (loss) and diluted net income (loss) per share as an indicator of West Marine's financial performance. These non-GAAP financial measures may not be comparable to similarly titled measures used by other companies.

The information required to be furnished pursuant to Item 2.02 and Exhibit 99.1 of this report shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, except if we specifically incorporate it by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act.