Gander Mountain reports 3Q EPS loss

ST. PAUL, Minn. Gander Mountain today reported that sales for its third quarter ended Nov. 3 increased 5.3% to $259.5 million and comparable-store sales decreased 8.4% versus the third quarter of the prior year.

For the quarter, the company reported a net loss of $5.1 million, or 25 cents per share, compared to net income of $2 million, or 14 cents per share, in the third quarter of fiscal 2006.

"These third quarter results were disappointing, coming off a solid first half. They reflect both warm weather across Northern states, which affects our critical fall hunting seasons, and soft consumer demand across our store base," said Mark Baker, president and ceo. "While sales performance has continued to be challenging in the fourth quarter, we are managing our costs carefully in light of continued softness in consumer discretionary purchases."