GMTN » Topics » Sales.

This excerpt taken from the GMTN 10-Q filed Jun 15, 2009.
Sales.  Consolidated sales increased by $20.0 million, or 9.6%, to $227.7 million in the first quarter of fiscal 2009 from $207.7 million in the first quarter of fiscal 2008.

 

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Retail segment sales were $209.9 million for the first quarter of fiscal 2009, an increase of $21.9 million, or 11.6% from $188.0 million for the first quarter of fiscal 2008. The Retail segment sales increase resulted from sales of $13.3 million from new stores not included in the comparable store sales base, a comparable store sales increase of $13.3 million and a $4.7 million sales decrease from stores closed during the first quarter of fiscal 2009 but open in fiscal 2008, as well as changes in other revenue.  In the first quarter of fiscal 2009, we opened one new store.  During the first quarter of fiscal 2008, we opened three new stores and closed three stores, including one relocation and the consolidation of two smaller format stores into one large format store.

 

Direct segment sales declined $1.9 million, or 9.6%, in the first quarter of fiscal 2009 as compared to the first quarter of fiscal 2008 as consumer spending in the boating accessory business was curtailed by the economic environment.

 

Our Retail comparable store sales increased 7.4% for the first quarter of fiscal 2009, as compared to a comparable store sales decline of 6.7% for the first quarter of fiscal 2008. Excluding a negative (5.4) % impact of power boat and ATV sales and power sport services which are categories the Company is in the process of exiting, comparable store sales were 12.8% for the first quarter of fiscal 2009. The increase was attributable to sales increases in the firearms, ammunition, firearm accessories, marine and camping categories and was also attributable to, we believe, increased advertising expenditures in the first quarter of fiscal 2009.

 

Overall, the Retail sales mix for the first quarter of fiscal 2009 was relatively consistent with the first quarter of fiscal 2008. The notable exceptions were: (i) the firearms, ammunition and accessories category, which increased its share of the Retail sales mix by 983 basis points on strong market demand, (ii) lower sales in the powersports category resulting in a 504 basis points lower share of the sales mix due to lower sales in ATVs and power boats as we exit these categories and (iii) the apparel category, which experienced a decline of 176 basis points in its share of the sales mix.

 

This excerpt taken from the GMTN 10-Q filed Dec 16, 2008.
Sales.  Sales increased by $78.7 million, or 12.1%, to $730.5 million in the first nine months of fiscal 2008 from $651.8 million in the first nine months of fiscal 2007.

 

The increase resulted from increased sales of $74.6 million from fiscal 2008 and fiscal 2007 new stores not included in the comparable store sales base, a comparable store sales decrease of $49.3 million and a $20.4 million sales decrease from stores closed during 2008 but open in 2007, as well as changes in other revenue.  The increase in sales also includes sales from our Direct business of $73.8 million for the first nine months of fiscal 2008 that were not present in the comparable period last year.

 

During the first nine months of fiscal 2008, we opened five new stores and closed three stores, including one relocation and the consolidation of two smaller format stores into one large-format store. We also re-opened one previously closed store as a retail outlet center. On a net basis for the first nine months of fiscal 2008, we added 337,000 square feet of retail selling space, a 5.5% increase.  During the first nine months of fiscal 2007, we opened 13 new stores, including three relocated stores. Our comparable store sales declined 8.3% for the first nine months of fiscal 2008, versus a comparable store sales decrease of 1.9% for the first nine months of fiscal 2007. The comparable store sales decline was impacted by the overall economic environment, including recent disruption in the financial and credit markets, declining real estate values, increasing foreclosures in the housing markets, rising unemployment, and decreased business and consumer confidence, and their effects on discretionary spending and the retail environment.  Additionally, continued de-emphasis of our Powersports category and, we believe, less advertising expenditures in the first nine months of fiscal 2008 as compared to the first nine months of fiscal 2007, negatively impacted the comparable store sales decline.

 

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This excerpt taken from the GMTN 10-Q filed Sep 16, 2008.
Sales.  Sales increased by $68.3 million, or 17.4%, to $460.5 million in the first half of fiscal 2008 from $392.3 million in the first half of fiscal 2007. The increase resulted from sales of $55.5 million from fiscal 2008 and fiscal 2007 new stores not included in the comparable store sales base, a comparable store sales decrease of $33.9 million and a $12.7 million sales decrease from stores closed during 2008 but open in 2007 as well as changes in other revenue. The increase in sales also includes sales from our Direct business of $59.4 million for the first half of fiscal 2008 that was not present in the comparable period last year.

 

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During the first half of fiscal 2008, we opened five new stores and closed three stores, including one relocation and the consolidation of two smaller format stores into one large-format store. On a net basis for the 26 weeks ended August 2, 2008, we added 308,000 square feet of retail selling space, a 5.0 % increase. During the first half of fiscal 2007, we opened four new stores, including one relocated store. Our comparable store sales declined 9.4% for the first half of fiscal 2008, versus a comparable store sales increase of 2.7% for the first half of fiscal 2007. The comparable store sales decline was impacted by the overall economic environment, including credit concerns, housing market foreclosures, rising fuel and food prices, rising unemployment and decreased consumer confidence, and their effects on discretionary spending. Additionally, we believe less advertising expenditures in the first half of fiscal 2008 as compared to the first half of fiscal 2007 impacted the comparable store sales decline.

 

This excerpt taken from the GMTN 10-Q filed Jun 17, 2008.
Sales.  Sales increased by $31.9 million, or 18.2%, to $207.7 million in the first quarter of fiscal 2008 from $175.7 million in the first quarter of fiscal 2007. The increase resulted from sales of $26.8 million from fiscal 2008 and fiscal 2007 new stores not included in the comparable store sales base, a comparable store sales decrease of $11.1 million and an $3.5 million sales decrease from stores closed during 2008 but open in 2007 as well as changes in other revenue. The increase in sales also reflects sales from our Direct business of $19.7 million for the first quarter of fiscal 2008.

 

During the first quarter of fiscal 2008, we opened three new stores and closed three stores, including one relocation and the consolidation of two smaller format stores into one large-format store. On a net basis for the quarter, we added 177,000 square feet of retail selling space, a 2.9% increase. During the first quarter of fiscal 2007, we opened one new store, a relocation of a small format store. Our comparable store sales declined 6.7% for the first quarter of fiscal 2008, versus a comparable store sales increase of 1.0% for the first quarter of fiscal 2007. The comparable store sales decline was impacted by the overall economic environment, including credit concerns, housing market foreclosures, rising fuel and food prices, and decreased consumer confidence, and their effects on discretionary spending. Additionally, we believe less advertising expenditures in the first quarter of fiscal 2008 as compared to the first quarter of fiscal 2007 impacted the comparable store sales decline.

 

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This excerpt taken from the GMTN 10-Q filed Dec 18, 2007.
Sales.  Sales increased by $67.2 million, or 11.5%, to $651.8 million in the first nine months of fiscal 2007 from $584.6 million in the first nine months of fiscal 2006. This increase resulted primarily from sales of $83.1 million from new stores not yet included in the comparable store sales base, partially offset by a comparable store sales decrease of $10.4 million and a $5.5 million sales decrease from relocated or consolidated stores and changes in other revenues. Comparable store sales decreased 1.9% compared to a decrease of 2.0% in the first nine months of fiscal 2006. We opened thirteen new stores during the first nine months of fiscal 2007, including three relocations, compared to eight new stores during the first nine months of fiscal 2006, including one relocation.

 

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The comparable store sales decrease was the result of sales weakness across all regions in the third quarter of fiscal 2007, which we believe was due to weaker overall economic conditions. The third quarter decrease more than offset the 2.7% increase in sales performance in the first half of fiscal 2007. Overall sales performance was enhanced in the first six months of fiscal 2007 by the increase in powersports sales generated by the rollout of our boat offering across 34 stores, and by strength in firearms/ammunition and footwear. For the nine months of fiscal 2007, with the exception of powersports, all major merchandise categories declined on a comparable store basis.

 

This excerpt taken from the GMTN 10-Q filed Sep 18, 2007.
Sales.  Sales increased by $54.2 million, or 16.0%, to $392.3 million in the first half of fiscal 2007 from $338.1 million in the first half of fiscal 2006. This increase resulted primarily from sales of $48.3 million from new stores not yet included in the comparable store sales base. This increase was supplemented by a comparable store sales increase of $8.8 million, and was partially offset by a $2.9 million sales decrease from relocated or consolidated stores and changes in other revenues. Comparable store sales increased 2.7% compared to a decrease of 8.4% in the first half of fiscal 2006. We opened four new stores during the first half of fiscal 2007, including one relocation, compared to three new stores during the first half of fiscal 2006, including one relocation.

The comparable store sales increase was impacted by the strong performance of our southern stores, but was offset by softer sales in our northern stores. Overall sales performance was enhanced by the increase in powersports sales generated by the rollout of our boat offering across 34 stores, and by continued strength in firearms/ammunition and footwear. Sales performance in apparel was less than expected and we continue to make changes to our strategy, initiatives and merchandising leadership in this area. The sales softness in the northern stores was also impacted by reduced clearance activity in the first quarter of fiscal 2007.

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This excerpt taken from the GMTN 10-Q filed Jun 14, 2007.
Sales.  Sales increased by $20.2 million, or 13.0%, to $175.7 million in the first quarter of fiscal 2007 from $155.6 million in the first quarter of fiscal 2006. This increase primarily resulted from sales of $19.7 million from new stores not yet included in the comparable store sales base. This increase was supplemented by a comparable store sales increase of $1.5 million, and was partially offset by a $1.0 million sales decrease from relocated or consolidated stores and changes in other revenues. Comparable store sales increased 1.0% compared to a decrease of 10.4% in the first quarter of fiscal 2006. We opened one new store during the first quarter of fiscal 2007 compared to two new stores during the first quarter of fiscal 2006. Total square footage as of May 5, 2007 increased 8.5% to 5.5 million square feet, as compared to April 29, 2006.

The comparable store sales increase was impacted by the strong performance of our southern stores, but was offset by less than expected sales in our northern stores. This regional sales softness was primarily attributable to  reduced clearance activity and unfavorable weather.  Firearms/ammunition continued its positive trend, Footwear was strong and certain Apparel categories were soft during the quarter.

This excerpt taken from the GMTN 10-K filed Apr 19, 2007.
Sales.   Sales increased by $160.5 million, or 24.9%, to $804.5 million in fiscal 2005 from $644.0 million in fiscal 2004. The increase resulted from sales of $216.0 million from fiscal 2005 and 2004 new stores not included in the comparable store sales base, offset by a comparable store sales decrease of $33.4 million, or 6.0%, and a $22.1 million sales decrease from closed stores and changes in other revenue. In fiscal 2005, we opened 19 new stores, including two relocated stores, and added 1.2 million square feet of retail selling space, a 33% increase.

Comparable store sales decreased 6.0% for fiscal 2005 as we experienced reduced sales across all but one of our product categories. Overall, we believe sales performance in fiscal year 2005 was negatively impacted by, among other factors, cannibalization from some of the new store openings and new competition entering certain of our markets. In addition, sales in the second half of fiscal 2005 were impacted by the weather, directly, from unseasonable weather patterns in certain of our operating markets, and, indirectly, from the impact of three devastating hurricanes and the resulting downturn in consumer confidence, much of which we believe was driven by higher energy prices.

Overall, the sales mix for fiscal 2005 was relatively consistent with fiscal 2004, except for the power sports category, which increased its share of the sales mix, driven largely by ATV sales at new large-format stores and sales of ATV accessories. Our firearms business continued to gain market share, reflecting consistent gains as a percentage of the sales mix. The apparel/footwear category experienced a slight decline in its share of the sales mix, primarily driven by weather factors. Marine accessories sales produced a positive comparable store sales result for the year and an increase in the overall sales mix as a result of the expansion of the marine products offering and our increased focus on that market.

This excerpt taken from the GMTN 10-Q filed Dec 7, 2006.
Sales.  Sales increased by $60.9 million, or 11.6%, to $584.6 million in the nine months of fiscal 2006 from $523.7 million in the nine months of fiscal 2005. This increase primarily resulted from sales of $81.1 million from new stores not yet included in the comparable store sales base. This increase was partially offset by a comparable store sales decrease of $9.2 million, and a $11.0 million sales decrease from relocated or consolidated stores and changes in other revenues. Comparable store sales decreased 2.0% compared to a decrease of 5.1% in the nine months of fiscal 2005. We opened eight new stores during the nine months of fiscal 2006 compared to nineteen new stores during the nine months of fiscal 2005. We relocated one store during the nine months of fiscal 2006. During the same period of fiscal 2005, we relocated two stores and closed one store.

Although our current third quarter of fiscal 2006 reflects improvement in comparable store sales, the comparable store sales decrease and the overall softness in sales for our nine month period of fiscal 2006 is primarily reflective of (i) reduced spending in advertising and promotions in the first six months of fiscal 2006 , (ii) our focus on our Everyday Low Price strategy that resulted in fewer promotions to drive customer traffic, (iii) lower levels of clearance merchandise available to customers, and (iv) cannibalization from some of the new store openings and new competition entering some of our markets.

This excerpt taken from the GMTN 10-Q filed Sep 7, 2006.
Sales.  Sales increased by $29.0 million, or 9.4%, to $338.1 million in the first half of fiscal 2006 from $309.0 million in the first half of fiscal 2005. This increase primarily resulted from sales of $58.6 million from new stores not yet included in the comparable store sales base. This increase was partially offset by a comparable store sales decrease of $23.0 million, and a $6.6 million sales decrease from relocated or consolidated stores and changes in other revenues. Comparable store sales decreased 8.4% compared to a decrease of 2.7% in the first half of fiscal 2005. We opened three new stores during the first half of fiscal 2006 compared to ten new stores during the first half of fiscal 2005.  We relocated one store during the first half of fiscal 2006. During the same period of fiscal 2005, we also relocated one store.

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We believe the comparable store sales decrease and the overall softness in sales is primarily attributable to (i) reduced spending in advertising and promotions , (ii) our focus on our Everyday Low Price strategy that resulted in fewer promotions to drive customer traffic, (iii) lower levels of clearance merchandise available to customers, and (iv) cannibalization from some of the new store openings and new competition entering some of our markets.

This excerpt taken from the GMTN 10-Q filed Jun 8, 2006.
Sales.  Sales increased by $20.3 million, or 15.0%, to $155.6 million in the first quarter of fiscal 2006 from $135.3 million in the first quarter of fiscal 2005. This increase primarily resulted from sales of $36.4 million from new stores not yet included in the comparable store sales base. This increase was partially offset by a comparable store sales decrease of $13.3 million, and a $2.8 million sales decrease from relocated or consolidated stores and changes in other revenues. Comparable store sales decreased 10.4% compared to a decrease of 1.0% in the first quarter of fiscal 2005. We opened two new stores during the first quarter of fiscal 2006 compared to six new stores during the first quarter of fiscal 2005. Total square footage as of April 29, 2006 increased 22.7% to 5.1 million square feet, as compared to April 30, 2005. We relocated one store during the quarter ended April 29, 2006. During the same quarter of fiscal 2005, we also relocated one store.

We believe the comparable store sales decrease and the overall softness in sales is primarily attributable to (i) reduced spending in advertising and promotions of approximately  $2.6 million or 39%, (ii) our focus on our everyday-low-price strategy which resulted in fewer promotions, and (iii) cannibalization from some of the new store openings and new competition entering some of our markets.

 

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This excerpt taken from the GMTN 10-K filed Apr 13, 2006.
Sales.   Sales increased by $154.5 million, or 31.6%, to $644.0 million in fiscal 2004 from $489.5 million in fiscal 2003. The increase resulted from sales of $180.4 million from fiscal 2004 and 2003 new stores not yet included in the comparable store sales base, offset by a comparable store sales decrease of $10.5 million, or 2.5%, and a $15.4 million sales decrease from closed stores and changes in other revenue. In fiscal 2004, we opened 19 new stores, including two relocated stores, and added 1.2 million square feet of retail selling space, a 49% increase.

Overall, sales performance throughout the year was impacted by unfavorable weather conditions, which particularly affected our apparel/footwear, fishing/marine and camping categories. The most significant impact on our business was in the third and fourth quarters, which were negatively impacted by long periods of unseasonably warm weather in our primary regions. In addition, for certain of our stores,

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sales were also negatively impacted by cannibalization from some of the new Gander Mountain store openings as well as new competition entering our markets. Overall, the sales mix for fiscal 2004 was relatively consistent with fiscal 2003, except for the ATV category, which increased its share of the sales mix, driven by sales at new, large-format stores.

This excerpt taken from the GMTN 10-Q filed Dec 9, 2005.
Sales.  Sales increased by $118.2 million, or 29.2%, to $523.2 million in the nine months of fiscal 2005, from $405.0 million in the nine months of fiscal 2004. This increase primarily resulted from sales of $151.1 million from new stores not yet included in the comparable store sales base. This increase was partially offset by a comparable store sales decrease of $17.5 million, or 5.1%, and a $15.4 million sales decrease primarily from relocated or consolidated stores. We opened nineteen new stores during the nine months of fiscal 2005 and relocated or consolidated three stores. During the nine months of fiscal 2004, we opened nineteen new stores and relocated

 

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two stores.

 

Comparable store sales decreased 5.1% after a decrease of 0.7% in the nine months of fiscal 2004. We experienced negative comparable store sales across most of our product categories. We believe the nine month period of fiscal 2005 was negatively impacted by direct and indirect weather factors in the third quarter of fiscal 2005; decreased consumer confidence driven by higher energy prices; and competition entering our markets as well as cannibalization from some of our own new store openings.

 

Marine accessories sales produced a positive comparable store sales result for the nine months of fiscal 2005 as a result of expansion of the marine product offering and our increased focus on the marine market.  The Powersports category continued to reflect an increased share of the sales mix for the nine months of fiscal 2005, driven largely by ATV sales in new larger format stores, sales of ATV accessories and sales of powerboats. Powerboats were a newly introduced product offering in early 2005. Our firearms business continues to gain market share, reflecting consistent gains as a percentage of the sales mix. The apparel/footwear categories declined as a percentage of the sales mix, primarily driven by weather factors.

 

This excerpt taken from the GMTN 10-Q filed Sep 12, 2005.
Sales.  Sales increased by $81.9 million, or 36.1%, to $308.7 million in the first half of fiscal 2005, from $226.8 million in the first half of fiscal 2004. This increase primarily resulted from sales of $97.8 million from new stores not yet included in the comparable store sales base. This increase was partially offset by a comparable store sales decrease of $5.5 million, or 2.7%, and a $10.4 million sales decrease primarily from relocated or consolidated stores.  We opened ten new stores during the first half of fiscal 2005 compared to five new stores during the first half of fiscal 2004.

 

Comparable store sales decreased 2.7% after an increase of 4.8% in the first half of fiscal 2004. For certain of our comparable stores, sales were negatively impacted by cannibalization from some of our own new store openings, as well as competition entering our markets.

 

Marine accessories sales were strong for the first half of fiscal 2005 as a result of expansion of the product mix in that category and our increased focus on the marine market. Also, the firearms product category had positive comparable store sales and performed well in our new stores.

 

The ATV category continues to reflect an increased share of the sales mix for the first half of fiscal 2005, driven largely by larger format store sales and ATV accessories, while the fishing and camping categories declined as a percentage of the sales mix.

 

This excerpt taken from the GMTN 10-Q filed Jun 13, 2005.
Sales.  Sales increased by $36.4 million, or 36.9%, to $135.1 million in the first quarter of fiscal 2005, from $98.7 million in the first quarter of fiscal 2004. This increase primarily resulted from sales of $40.5 million from new stores not yet included in the comparable store sales base.  This increase was partially offset by a comparable store sales decrease of $0.9 million, or 1.0%, and a $3.2 million sales decrease from closed stores.  We opened six new stores during the first quarter of fiscal 2005, including one relocated store, compared to two new stores during the first quarter of fiscal 2004.  Total square footage as of April 30, 2005, increased 52% to 4.1 million square feet, as compared to May 1, 2004.

 

Comparable store sales decreased 1.0% after an increase of 8.7% in the first quarter of fiscal 2004. Comparable store sales performance was impacted by lower levels of clearance merchandise, particularly in the apparel category, as a result of positive clearance activities at the end of fiscal 2004. For certain of our stores, sales were also negatively impacted by cannibalization from some of the new Gander Mountain store openings, as well as competition entering our markets. However, the hunting product category had positive comparable store sales for the quarter, primarily due to strong sales of firearms and firearm securities products, driven by targeted promotions. Marine accessories also had positive comparable store sales for the quarter as a result of expansion of the product mix in that category and our focus on the marine market.

 

The ATV category increased its share of the sales mix for the first quarter of fiscal 2005, driven largely by larger format store sales and ATV accessories, while the fishing category declined in the sales mix.  Lower levels of clearance merchandise during the quarter, resulted in a decrease in the apparel/footwear category as a percentage of total sales.

 

This excerpt taken from the GMTN 10-K filed Apr 29, 2005.
Sales.  Sales increased by $132.0 million, or 36.9%, to $489.4 million in fiscal 2003 from $357.4 million in fiscal 2002. The increase in sales resulted from a comparable store sales increase of $39.9 million, or 11.5%, and sales of $91.7 million from ten additional stores, including eight new stores and two relocated stores, opened during fiscal 2003. In addition to the operating initiatives discussed above, the increase in comparable store sales was attributable to sales increases in our hunting category led by consistently strong performance in our firearms department.  Firearms sales performance was enhanced by the launch of our co-branded credit card in September 2003, which provided customers with a 5% to 10% discount and a new financing option for these higher priced items. These increases were partially offset by lower sales in the apparel and footwear categories due to unseasonably cool and wet weather in the first quarter of fiscal 2002 and flat sales of fishing rods and reels that were consistent with recent industry trends.

 

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