Outdoor retailer Gander Mountain Company has reported results for the fourth quarter and fiscal year ended January 28th 2006.
For the fourth quarter of fiscal 2005, sales increased to $280.8 million, an increase of 18 percent over the fourth quarter of fiscal 2004. Income from operations increased 37 percent to $26.0 million, while the net income for the fourth quarter of fiscal 2005 increased 26 percent to a record $22.2 million, compared to net income of $17.5 million for the fourth quarter of fiscal 2004.
Mark Baker, President and CEO, said, "The record fourth quarter results reflect our ability to manage our business profitably. We are encouraged by the early results from initiatives we launched in 2005 that gained traction in the fourth quarter. We look forward to a balance of growth and improved profitability in 2006."
For the fiscal year ended January 28th 2006, sales increased 25 percent to $804.5 million. The net loss for the fiscal year was $13.3 million, compared with net income of $1.6 million for fiscal 2004. Same store sales decreased 7.4 percent in the quarter and 6.0 percent for the fiscal year.
In fiscal 2005, Gander Mountain opened nineteen new stores and relocated or consolidated three stores, expanding its industry-leading retail network to a total of 98 stores. It entered four new states in the year -- Arkansas, Kansas, Maryland and North Carolina -- bringing the total number of states to 18.
Gander Mountain Company, headquartered in Saint Paul, Minnesota, is the nation's largest retail network of stores for hunting, fishing, camping, marine and outdoor lifestyle products and services.
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