Gander reports modest 2Q loss
Posted on 27 August 2008
Gander Mountain Co. today reported sales of $252.9 million for the quarter ending Aug. 2, an increase of 16.8 percent over the prior year period, while comparable store sales decreased 11.7 percent in the second quarter.
The 2008 period includes $39.7 million in revenue because of the expansion of the company's direct marketing business through Overton's.
Net loss for the second quarter was $4.9 million, or 20 cents per share, compared to a net loss of $9.7 million, or 48 cents per share, in the second quarter of fiscal 2007.
For the 26 weeks ending Aug. 2, the company reported sales of $460.5 million, an increase of 17.4 percent over the comparable period in 2007. The company reported a net loss for the 26-week period of $29.3 million, or $1.22 per share, compared with a net loss of $32.5 million, or $1.61 per share, for the 26 weeks ending Aug. 4, 2007.
"As anticipated, second quarter results reflect continuing economic pressure on consumer purchases of discretionary items, and we expect these conditions to persist in the second half of fiscal 2008," said Mark Baker, Gander Mountain president and CEO, in a statement.
"Entering the seasonally stronger second half of our year, Gander Mountain's concentration on growth in the direct business, targeted marketing, and cost-saving initiatives offer opportunities for improved performance in the remainder of fiscal 2008," he added.
Headquartered in St. Paul, Minn., Gander Mountain is among the nation's largest retail networks of stores for boating, hunting, fishing, camping, marine and outdoor lifestyle apparel, and footwear, products and services. There are 115 Gander Mountain outdoor lifestyle stores in 23 states.