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Retail segment sales soar at Gander Mountain
04
Dec '09
Gander Mountain Company announced results for the third fiscal quarter ended October 31, 2009.

Fiscal 2009 third quarter consolidated sales were $276.6 million compared to consolidated sales of $269.9 million for the third quarter of fiscal 2008, a 2.5 percent increase.

Consolidated net income was $3.2 million for the fiscal 2009 third quarter compared to a consolidated net income of $0.8 million for the same quarter last year. Gander Mountain reported net earnings per share of $0.13 compared with $0.03 for the third quarter of fiscal 2008.

Retail segment sales for the third quarter were $261.0 million, an increase of $5.5 million or 2.2 percent, as compared to the fiscal 2008 third quarter. Direct segment sales were $15.6 million for the quarter, compared to $14.4 million for the same quarter last year, an increase of $1.2 million or 8.0 percent.

Comparable store sales during the third quarter of fiscal 2009 were a positive 1.0 percent. The firearms, ammunition, fishing, apparel, marine and camping categories all experienced above average comparable store sales gains during the quarter. During the second quarter of fiscal year 2009, Gander Mountain substantially completed its withdrawal from the boat, ATV and power sport services categories. Excluding the negative 2.7 percent impact of these categories, comparable store sales were a positive 3.7 percent during the third quarter.

Retail segment net income was $5.5 million compared to $3.7 million for the third quarter of last year. Net losses for the direct segment were $2.3 million for the quarter, compared with $2.9 million for the third quarter of last year.

For the 39 weeks ended October 31, 2009, the company reported sales of $752.7 million, an increase of 3.0 percent over the same period in fiscal 2008. Comparable store sales for the 39-week fiscal 2009 period were a positive 1.8 percent. Excluding the negative 3.8 percent impact of boat and ATV sales and power sport services, comparable store sales were a positive 5.6 percent for the 39-week fiscal 2009 period. The company reported a net loss for the 39-week period of $22.8 million, or $0.94 per share, compared with a net loss of $28.5 million, or $1.18 per share for the 39 weeks ended November 1, 2008.

Gander Mountain Company

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