Gander Mountain reports first-quarter loss

Author:
Updated:
Original:

Gander Mountain Co., which sells boating, hunting, fishing and outdoor lifestyle products and services, reported a net loss for the first quarter ending May 3 of $24.4 million, or $1.02 per share.

Surfer

The company reported sales of $207.7 million for the quarter ending May 3, an increase of 18.2 percent over the prior year period. Comparable store sales decreased 6.7 percent in the first quarter.

The 2008 period includes $19.7 million in direct marketing revenue because of the acquisition of Overton's in December 2007.

"As anticipated, first-quarter results in our seasonally-smallest quarter reflect continuing economic pressure, both in the broad economy and particularly with the purchase of discretionary items. Overall, conditions eased in the first quarter of 2008 from late 2007 and our results were in line with our expectations," said Mark Baker, president and CEO, in a statement.

Gander Mountain has completed its 2008 new-store-opening program by opening stores in Palm Beach Gardens and Ocala, Fla. and Roanoke, Va. The company also opened stores in Eau Claire and Madison, Wis., replacing smaller older stores and incurred related store-closing costs of $776,000 for the quarter.

Related

Fusion Unveils Wake Tower Speakers to Premium Signature Series 3 Collection

The new wake speakers are the first to feature five-color LED lighting.

Boot Düsseldorf 2021 Postponed Until Late April

With Covid-19 numbers remaining high across the EU, organizers say the event cannot be held in January.

Galati Goes Virtual

The yacht dealer has unveiled a virtual shopping tool that will help match customers with vessels as most boat shows are cancelled or moved online in the pandemic.

Quick Hits: December 3, 2020

Walter Meloon inducted into Wakeboarding Hall of Fame, and AMI announces virtual conference.

Are Car Dealers and Boat Dealers Headed in the Same Direction?

Both have seen dealer stocks down as manufacturing attempts to keep up with demand. But one thing is for certain: a first-person tactile dealership experience remains critical to continued success.

Sharrow Marine to Build MX-1 Props in Michigan

Founder Greg Sharrow announced the new global manufacturing HQ will be located in his hometown of Detroit.