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Outdoor retailer Gander Mountain expects lower sales, Q3

26
Oct '05
Leading outdoor lifestyle retailer, Gander Mountain Company announced that it no longer expects to meet its previously disclosed guidance for revenue of at least $850 million, flat comparable store sales and pretax income of at least $16 million for the fiscal year 2005.

The uncertainties about the economy, including the impact of higher energy prices, and the persistently warm weather across much of the country are contributing to weakness in sales. The company expects that comparable store sales in the third quarter will decline nine to ten percent versus the third quarter of fiscal 2004.

'Sales and gross margin in the third quarter have been disappointing,' said Mark Baker, President and CEO. 'However, they still have their most important selling period ahead of them with the peak hunting seasons and the holiday season, and they have taken steps to maximize current opportunities in response to the softer sales environment.'

'Their new store opening plans for 2006 are more conservative in light of the economic uncertainty, which they believe has a greater impact on specialty retailers that rely on discretionary consumer spending,' continued Baker. 'In 2006, as they surpass the 100-store mark, they expect to be in a position to realize more of the benefits of scale inherent in retailing and will focus on leveraging those opportunities for operating improvements.'

The company expects to report third quarter earnings on November 16 and willhold a conference call at 8:00 CST that morning to discuss third quarter results. At that time, the company will discuss guidance for fiscal 2005 full- year results.


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