Gander Mountain Co. said it expects consolidated sales for the fourth quarter of approximately $333 million, compared to $318 million in the year-ago period, a 4.9% increase. Net income is expected to reach approximately $20 million compared to net income of $5.8 million for the same quarter last year.
Retail segment sales were approximately $321 million, an increase of 2.9% compared to the fiscal 2007 fourth quarter. Direct segment sales were approximately $12.1 million for the quarter, compared to $5.5 million for the same quarter last year.
Record retail segment net income was approximately $23 million compared to net income of $7 million for the fourth quarter last year, an improvement of $16 million.
Comparable store sales during the fourth quarter of fiscal 2008 were down 0.2%, an improvement over a 6.5% decline in the third quarter. The firearms, ammunition, seasonal hunting and footwear categories all experienced strong sales performance during the quarter.
Consolidated SG&A costs, as a percentage of sales, declined approximately 170 basis points to 20.0% of sales in the fourth quarter of fiscal 2008 as compared to the fourth quarter of fiscal 2007.
Record cash flows from operating activities for the quarter were approximately $108 million, an improvement of approximately $34 million over the comparable quarter last year. During the year, the company reduced its total debt by approximately $38 million.
