Gander Mt. Comps Plunge

ST. PAUL-Outdoor retailer Gander Mountain Co.’s year-over-year same-stores sales dropped 8.5% in its third quarter mainly due to high energy costs and unusually warm weather, executives say. The company also posted a $7.5 million loss during its Q3, which ended Oct. 29.

Net sales for the retailer came in at $214.4 million, a 20% increase. The average ticket transaction rose from $56 to $59, but sales per sf fell from $208 to $182, due to low traffic in newer stores and weak sales of high-margin items like apparel and footwear.

Gander Mountain opened nine new stores during the quarter, bringing its total unit count to 98. The chain also entered three new states: Kansas, Maryland and North Carolina. Next year it will open six to eight new stores, executives say.