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Gander Mountain expansion leads to increased sales

Gander Mountain Co. reported an increase in sales for the third quarter, due in part to the expansion of the company’s direct marketing business through Overton’s.

The company reported sales of $269.9 million for the quarter ending Nov. 1, an increase of 4 percent from the prior-year period.

Comparable store sales decreased 6.5 percent in the third quarter, but the period includes $14.4 million in revenue because of the expansion of business through Overton's.

Net income for the third quarter was $0.77 million, or 3 cents per share, compared to a net loss of $5.1 million, or 25 cents per share, in the third quarter of fiscal 2007.

"While the current retail environment is as difficult as any in recent memory, our efforts to conserve costs, improve operating margins, reduce capital expenditures and improve operating cash flows have borne results," said Gander chairman and interim CEO David C. Pratt.

"We are applying a more disciplined approach to our operations, capital, and expense decisions and we remain pleased with the operational progress visible in these results at Gander Mountain,” he added.

For the 39 weeks ending Nov. 1, the company reported sales of $730.5 million, an increase of 12.1 percent over the comparable period in 2007.

The Saint Paul, Minn.-based company reported a net loss for the 39-week period of $28.5 million, or $1.18 per share, compared with a net loss of $37.6 million, or $1.86 per share, for the 39 weeks ended Nov. 3, 2007.

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