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Gander Mountain reports 1Q results

Gander Mountain Co. announced an 11.6 percent increase in retail sales and a gain in comparable store sales for the first quarter, which ended May 2. However, it had an overall retail segment loss of $16.4 million for the quarter, and a consolidated net loss of $18.6 million.

Comparable store sales during the first quarter of fiscal 2009 were up 7.4 percent, an improvement over a loss of 0.2 percent in the fourth quarter of fiscal 2008.

Excluding a 5.4 percent loss in boat and ATV sales and powersport services, which are categories the company is in the process of exiting, comparable store sales increased 12.8 percent during the quarter.

Overall, the company reported a retail segment loss of $16.4 million for the quarter. This compares to retail net loss of $22.8 million for the first quarter last year, an improvement of 28.3 percent.

First-quarter consolidated sales were $227.7 million compared to consolidated sales of $207.7 million for the first quarter of fiscal 2008, a 9.6 percent increase.

Retail segment sales were $209.9 million, an increase of $21.9 million, or 11.6 percent, as compared to the fiscal 2008 first quarter.

Direct segment sales were $17.8 million for the quarter, compared to $19.7 million for the same quarter last year, a decrease of 9.6 percent.

Consolidated net loss was $18.6 million for the fiscal 2009 first quarter compared to a consolidated net loss of $24.4 million for the same quarter last year, an improvement of 23.7 percent.

"Strong comparable sales performance in our retail segment allowed Gander Mountain to report continued operating improvement, even during the slowest seasonal period in the hunt-fish-camp categories and in a difficult retail environment. We continue to apply a more disciplined approach to our operations, capital, and expense decisions," said David C. Pratt, chairman and interim chief executive officer, in a statement.

St. Paul, Minn.-based Gander Mountain has 116 stores in 23 states, and three outlet stores.



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