Home / Knowledge / News / Fashion / Gander Mountain improves its performance through year
Gander Mountain improves its performance through year
23
Apr '09
Gander Mountain Company, the nation's largest retail network of stores for hunting, fishing, camping, and marine products and services and outdoor lifestyle apparel and footwear, announced results for the fourth quarter and fiscal year ended January 31, 2009.

In addition, a pre-recorded call offering additional comments on the quarter will be available to all investors on the company's Website at www.GanderMtn.com, both as a webcast and in the form of a transcript. An archived webcast and transcript will remain available on the company's Website for approximately 90 days.

Fourth Quarter 2008:
Gander Mountain's fiscal fourth quarter 2008 results included record consolidated sales of $334.1 million compared to consolidated sales of $317.6 million for the fourth quarter of fiscal 2007, a 5.2 percent increase.

Retail segment sales for the fourth quarter were $322.0 million, an increase of $10.0 million or 3.2 percent, as compared to the fiscal 2007 fourth quarter. Direct segment sales were $12.1 million for the quarter, compared to $5.5 million for the same quarter last year. The increase in Direct segment sales resulted primarily from the startup of the new Gander Direct internet and catalog operations in the third quarter of fiscal 2008 and the inclusion of Overton's, acquired in December 2007, for the full quarter in fiscal 2008.

Retail segment net income in the fourth quarter was $16.6 million, which includes a $6.5 million non-cash charge for impairment of goodwill in light of current market conditions. Excluding the non-cash impairment charge, retail segment net income in the fourth quarter was $23.1 million. For the fourth quarter of fiscal 2007, retail net income was $7.0 million. The improvement resulted primarily from increased product margins and decreased SG&A costs. Direct segment net loss for the fourth quarter was $3.5 million, compared with a net loss of $1.2 million in the fourth quarter of 2007.

Consolidated net income improved to $13.0 million for the fiscal 2008 fourth quarter, including the $6.5 million non-cash charge for impairment of goodwill, compared to net income of $5.8 million for the same quarter last year. Excluding the non-cash impairment charge, consolidated net income for the fiscal 2008 fourth quarter was $19.6 million.

As reported, comparable store sales during the fourth quarter of fiscal 2008 were (0.2) percent, an improvement over (6.5) percent in the third quarter of fiscal 2008. The firearms, ammunition, seasonal hunting and footwear categories all experienced strong sales performance during the quarter. Comparable store sales were a positive 2.7 percent during the quarter, excluding the (2.9) percent impact of boats, ATV sales and power sport services, which are categories the company is in the process of exiting.

Consolidated SG&A costs, as a percentage of sales, improved 168 basis points to 20.0 percent of sales in the fourth quarterof fiscal 2008 as compared to the fourth quarter of fiscal 2007.


Must ReadView All

Courtesy: Jens Mahnke from Pexels

Textiles | On 22nd Oct 2018

India levies anti-dumping duty on flax yarn from China

The ministry of finance, Government of India, has imposed definitive...

US polyester yarn makers allege dumping from China, India

Textiles | On 22nd Oct 2018

US polyester yarn makers allege dumping from China, India

Two major US synthetic yarn producers—Unifi Manufacturing, Inc...

Courtesy: Donear

Textiles | On 22nd Oct 2018

Aspiring middle class shaping menswear fabric trend

The key trends shaping menswear fabric include a new middle class and ...

Interviews View All

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Headhonchos, Textiles & allied industry

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Binoy Ravjani, Hero's Fashion

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Sugandha Bhardwaj,

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search