Gander Mountain reports 3Q sales increase
Posted on 14 November 2008
Gander Mountain Company had a 4 percent increase in sales for the third quarter of 2008, compared to the same period last year, according to the company.
The company reported third-quarter consolidated sales of approximately $270 million compared to consolidated sales of $260 million for the comparable quarter of fiscal 2007.
The retail segment sales accounted for approximately $255 million, a decrease of $4 million or 1.6 percent, as compared to the fiscal 2007 third quarter. Direct segment sales were approximately $14.4 million for the quarter. There were no direct segment sales in the third quarter of fiscal year 2007, because of the acquisition of Overton's direct marketing operations by Gander Mountain
in December 2007.
Gander reported consolidated net income of approximately $700,000 for the third quarter of 2008 compared to a net loss of $5.1 million for the same quarter last year.
Comparable store sales during the third quarter of fiscal 2008 declined 6.5 percent, compared to a decline of 11.7 percent in the second quarter of fiscal 2008.
"We are pleased with the operational progress visible in these results at Gander Mountain. We are applying a more disciplined approach to our operations, capital, and expense decisions," said David C. Pratt, chairman and interim chief executive officer.
"The current retail environment is as difficult as any in recent memory and our efforts to conserve costs, improve operating margins, reduce capital expenditures and increase operating cash flow have borne results,” he added.
The Minnesota-based company will report final results in December.
There are 116 Gander Mountain stores in 23 states.