Gander Mountain Co. said preliminary estimates for the third quarter ended Nov. 1 indicate consolidated sales rose 4% to $270 million compared to consolidated sales of $260 million last year.
Retail sales fell by $4 million, or 1.6%, to approximately $255 million, compared to the year-ago period. Direct segment sales were approximately $14.4 million for the quarter. There were no direct segment sales in the third quarter of fiscal year 2007, due to the acquisition of Overton's direct marketing operations by Gander Mountain in December 2007.
Same-store sales for Gander Mountain declined 6.5% for the third quarter, though improved from the 11.7% drop recorded for Q2.
Net income for the retail segment rose $8.7 million to $3.6 million compared to a net loss of $5.1 million for the year ago period.
Consolidated net income was approximately $700,000 for the third quarter 2008 compared to a net loss of $5.1 million for the same quarter last year. Consolidated net income includes a net loss from the direct segment of approximately $2.9 million.