Sales and profits rise at Gander Mountain
Fishing, camping and outdoor gear provider Gander Mountain Company has posted sales of $252.9 million for the quarter ended August 2, an increase of 16.8% over the prior-year period. However, comparable store sales fell 11.7%. Net loss for the quarter was $4.9 million compared with a loss of $9.7 million in the second quarter of 2007. Gross profit increased 30.9% to $67.5 million.
For the 26 weeks ended August 2, the company reported sales of $460.5 million, an increase of 17.4% over the comparable period in 2007. Net loss for the period was $29.3 million, down from $32.5 million.
"As anticipated, second quarter results reflect continuing economic pressure on consumer purchases of discretionary items, and we expect these conditions to persist in the second half of fiscal 2008," said president and CEO, Mark Baker.
