GANDER MOUNTAIN EXPECTING TO REPORT A LOSS FOR THE YEAR

Byline:

NEW YORK — Citing poor performance of its spring catalogs, Gander Mountain Inc. said Friday it expects to post a loss for its fiscal year ending July 1, and may take a charge in the third quarter.
“The disappointing catalog results are due mainly to poor in-stock condition for January catalog sales and very soft sales from the spring general catalog,” Joseph C. Lawler, chief executive officer, said. Lawler noted that contributing to the poor catalog sales were aggressive pricing by competitors.
The company said that the soft catalog sales are expected to continue through spring, which is traditionally the weakest period for the catalog business.
The Wilmot, Wis.-based, firm said that it is reviewing its operations and is expecting to take a charge in the third quarter ending April 1, 1995.
While catalog sales have been sluggish, the company noted that its retail division continues to post on-plan sales and profits in both new and comparable stores.
Gander Mountain is a retailer of outerwear, footwear and equipment for camping, fishing and hunting. — Fairchild News Service