Today before the opening bell, Gander Mountain Company reported its preliminary results for the fiscal fourth quarter ended January 31, 2009. The company anticipates announcing record fiscal 2008 fourth quarter consolidated sales of approximately $333 million versus consolidated sales of $318 million for the fourth quarter of the previous year.
Retail segment net income is also expected to hit record highs, totaling $23 million compared to net income of $7 million for the fourth quarter last year, a 328% increase. According to the press release, the substantial improvement resulted mainly from increased product margins and decreased SG&A costs.
David C. Pratt, chairman and interim chief executive officer, stated, Record retail segment net income, improved cash flows from operations and reduced debt reflect a second consecutive quarter of progress at the ‘New Gander Mountain.’ We continue to apply a more disciplined approach to our operations, capital, and expense decisions.
Commenting on the current year, he continued, Heading into 2009, the retail environment is as difficult as any in memory. We believe that our ongoing efforts to build the leadership team, manage costs, improve operating margins, increase cash flows and reduce debt will continue the momentum we generated this last fiscal year.
The stock is currently trading at $2.35, up 42.42%, on 151,570 traded shares. The 3 month average daily volume is 33,684.