ST. PAUL, Minn. — Gander Mountain Company’s (Nasdaq: GMTN) 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.
For the fiscal year, the company reported record sales of $1.1 billion, an increase of 9.8 percent over the prior year. The company reported a net loss for the year of $15.5 million, or ($0.64) per share, compared with a net loss of $31.8 million, or ($1.52) per share for the 2007 fiscal year.
Retail segment results for the year were a net loss of $9.4 million compared with a net loss of $30.6 million in fiscal 2007. Comparable store sales declined 5.6 percent. Direct segment results were a net loss of $6.1 million compared with a net loss of $1.2 million in fiscal 2007 reflecting additional investment in the launch of Gander Direct in fiscal 2008.
Gander Mountain Company, headquartered in Saint Paul, Minnesota, is the nation’s largest retail network of stores for hunting, fishing, camping, marine, and outdoor lifestyle apparel and footwear, products and services.
The company’s Annual Report on Form 10-K are available at www.GanderMtn.com.
