Gander Mountain sees 4Q comps improvement

ST. PAUL, Minn. Gander Mountain reported consolidated sales of $334.1 million for the fourth quarter of 2008 compared with consolidated sales of $317.6 million for the fourth quarter of fiscal 2007, a 5.2% increase.

Retail segment sales for the fourth quarter were $322 million, an increase of 3.2%, as compared to the fiscal 2007 fourth quarter.

Retail segment net income in the fourth quarter was $16.6 million, which includes a $6.5 million non-cash charge for impairment of goodwill in light of current market conditions.

As reported, comparable-store sales during the fourth quarter of fiscal 2008 were down 0.2% percent, an improvement over a decrease of 6.5% percent in the third quarter of fiscal 2008. Consolidated SG&A costs, as a percentage of sales, improved 168 basis points to 20.0 percent of sales in the fourth quarter of fiscal 2008 as compared to the fourth quarter of fiscal 2007.