Home / Knowledge / News / Fashion / Difficult retail environment slows Gander progress
Difficult retail environment slows Gander progress
02
Sep '09
Gander Mountain Company, the nation's largest retail network of stores for hunting, fishing, camping, marine and outdoor lifestyle apparel and footwear, products and services announced results for the second fiscal quarter ended August 1, 2009.

Fiscal 2009 second quarter consolidated sales were $248.4 million compared to consolidated sales of $252.9 million for the second quarter of fiscal 2008, a 1.8 percent decrease.

Consolidated SG&A costs, as a percentage of sales, increased 110 basis points to 27.6 percent of sales in the quarter, reflecting increased advertising expense.

Consolidated net loss was $7.3 million for the fiscal 2009 second quarter compared to a consolidated net loss of $4.9 million for the same quarter last year. The increased loss resulted primarily from discounts and markdowns associated with the withdrawal from PowerSports categories and increased advertising expense. Gander Mountain reported a net loss per share of $0.30 compared with a net loss per share of $0.20 for the second quarter of fiscal 2008.

Retail segment sales for the second quarter were $210.8 million, a decrease of $2.3 million or 1.1 percent, as compared to the fiscal 2008 second quarter. Direct segment sales were $37.6 million for the quarter, compared to $39.7 million for the same quarter last year, a decrease of 5.4 percent.

Comparable store sales during the second quarter of fiscal 2009 declined 2.4 percent. The firearms, ammunition, hunting accessories, fishing, marine and camping categories all experienced comparable store sales gains during the quarter. During the quarter, Gander Mountain substantially completed its withdrawal from the boat, ATV and power sport services categories. Excluding the negative 4.2 percent impact of these categories, comparable store sales were a positive 1.8 percent during the quarter.

Retail segment net loss was $9.1 million compared to a retail net loss of $6.8 million for the second quarter of last year. Net income for the direct segment was $1.7 million for the quarter, compared with $2.0 million for the second quarter of last year, reflecting start up costs related to the Gander Mountain direct business.

Improvement in inventory management resulted in a decrease in retail segment inventory of 7.1 percent per square foot year-over-year.

For the 26 weeks ended August 1, 2009, the company reported sales of $476.1 million, an increase of 3.4 percent over the same period in fiscal 2008. Comparable store sales for the 26-week fiscal 2009 period increased 2.2 percent. Excluding the negative 4.8 percent impact of boat and ATV sales and power sport services, comparable store sales were a positive 7.0 percent for the first half of 2009. The company reported a net loss for the 26-week period of $26.0 million, or $1.07 per share, compared with a net loss of $29.3 million, or $1.22 per share for the 26 weeks ended August 2, 2008.


Must ReadView All

Courtesy: Amazon

Apparel/Garments | On 23rd Sep 2018

Consumers in Turkey get access to Amazon

Amazon has launched in Turkey giving customers in the country...

Value in omni-channel retail with Flipkart buying: Walmart

Apparel/Garments | On 23rd Sep 2018

Value in omni-channel retail with Flipkart buying: Walmart

With the acquisition of Flipkart, Walmart sees great value in...

E-com to result in common SE Asian consumer market: BCG

Textiles | On 23rd Sep 2018

E-com to result in common SE Asian consumer market: BCG

The rapid spread of e-commerce and digital technologies is binding...

Interviews View All

Awen Delaval, Samatoa

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Hannah Lane, Redress

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

C Kamatchisundaram, Voltas

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Umang Banthia,

Umang Banthia

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

Ashish M Amin,

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

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


September 2018

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

news category


Related Categories:

Advanced Search