The new stores, scheduled to open in between June and October, will be located in the following markets: Baxter, MN; Sherman, TX; Greensboro, NC; Sherwood, AR; Greenwood, IN; Texarkana, TX; Johnstown, PA; Wichita, KS; Joliet, IL; Woodbury, MN; and Salisbury, MD.
"We are looking forward to introducing the Gander Mountain brand in four new states this year, Arkansas, Kansas, North Carolina and Maryland, all of which are home to many outdoor enthusiasts," said Mark Baker, Gander Mountain's president and CEO.
The company has already opened eight new stores in 2005, including the replacement of its store in Duluth, MN. Most of the new stores are 60,000 to 65,000 sf plus outside selling space, and include ATV sales and service, an in-store professional gunsmith, a full-service archery shop with shooting lanes and a Gander Lodge meeting space.
Last month, the company reported Q1 sales increased to $135.1 million, a 37% increase in sales over the first quarter of 2004. Comparable store sales decreased 1% after an increase of 8.7% in the first quarter of 2004. The net loss for the first quarter of fiscal 2005 was $17.6 million, compared to a $13.8 million restated loss for the first quarter of fiscal 2004. There are currently 89 Gander Mountain outdoor lifestyle stores in 14 states.
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