First-quarter improvements for Gander Mountain
04/06/2009
Outdoor apparel retail group Gander Mountain Company has reported record retail revenue for the first quarter of 2009 and a much-reduced loss for the traditionally weak three-month period.
Gander Mountain, which specialises in camping and marine apparel and equipment, has said that the seasonal nature of the activities it targets means the first quarter usually produces a loss. However, the loss this time was $18.6 million, an improvement of $5.8 million, or 23.7%, compared to the same quarter last year.
During the three-month period, the company’s 116 stores brought in revenues of $227.7 million, a record figure for the first quarter and an improvement of 9.6% on the same period last year.
“Strong comparable sales performance in our retail segment allowed Gander Mountain to report continued operating improvement, even during the slowest seasonal period in the hunt-fish-camp categories and in a difficult retail environment. We continue to apply a more disciplined approach to our operations, capital, and expense decisions,” said David Pratt, chairman and interim chief executive officer on announcing the results. “As expected, the 2009 retail environment remains challenging. We believe that our ongoing efforts to improve operating margins, manage costs and reduce debt will continue our momentum. I would like to thank our associates, vendors, and shareholders for their continued support.”
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