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Gander Mountain Closing??


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I was up in the cities fishing and a buddy informed me that the Gander Mtn. stores up there were all closing, inlcuding the one here in Rochester? Can anyone verify this? If so, does anyone know why?

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I have heard some similar stories and some rumored reasons as to the closures, but I am not going to speculate here. Until they are nailed shut I call them open and rumors are.well, you know.

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They might be following the megastore trend, considering what they have planned in Rogers, what is already on 35E by forest lake etc.

The stock is at 11 and this from the last quarterly earnings doesn't sound like they are in trouble. Click on Investor Relations on web page.

Gander Mountain Company Reports First Quarter Results

-- Sales increased 37 percent over the first quarter of fiscal 2004, on track for the company's targeted sales increase of at least 32 percent for the year. -- The company currently operates 89 stores in 14 states.

ST. PAUL, Minn., May 18, 2005 /PRNewswire-FirstCall via COMTEX/ -- Gander Mountain Company (Nasdaq: GMTN) today reported sales and earnings for the first quarter ended April 30, 2005.

For the first quarter of fiscal 2005, sales increased to $135.1 million, an increase of 37 percent over the first quarter of fiscal 2004. Comparable store sales decreased one percent after an increase of 8.7 percent 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.

"First quarter results keep us on track to meet our 2005 financial plan," said Mark Baker, President and CEO. "We are satisfied with our results for this quarter, which accounts for only about 15 percent of sales due to seasonality. We saw solid comparable store sales gains in hunting, our largest product category, and in marine accessories."

In the first quarter of fiscal 2005, the company opened six new stores, including one relocated store, bringing the total store count to 87 at the end of the quarter. Three of the new stores expand the company's presence in markets where the Gander Mountain brand was introduced in 2004, namely, Texas and Colorado. The other new stores extend the company's reach into Minnesota, New York and Indiana. Since the end of the quarter, we have opened two additional stores, including a fourth Texas store in Beaumont and a new store in Dayton, Ohio. In fiscal 2005, the company anticipates opening a total of 18 to 20 stores, including three or four store relocations or consolidations. New store growth will reinforce current markets as well as extend the company's brand into new markets.

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That certainly doesn't make it sound like they would be closing any doors, but I guess you never know. I'm with CT, as it's probably just hear-say.

Going out of business rumors tend to get started when these stores have big, extended, clearance sales like GM has been having. It would be a huge bummer to lose the store in Rochester...really tough for us smarmy fly guys who have limited store options.

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Talked to a buddy from Fargo, and he said the Fargo, ND store was in financial troble, but he hadn't heard any rumors of going out of business. They also had an article in the newspaper, but no sign of closeout.

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I haven't heard any thing special, but they are closing the woodbury store so they can open a new mega store (like at lakeville) the store in woodbury will close 24 aug and the new one opens 27 sept. That doesn't seem like news of a company going down the tubes. They just did the same thing in Duluth this spring.

Bitz

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the lease on the bloomington store was bought out by vixon jeweler's. I have not heard of rochester closing i know a new store opened in mankato. gander is moving to the big stores. One of the head guys once worked for home depot.

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There once was a rumor that Gander Mtn was going to move to one of the vacant grocery stores in Rochester. Haven't heard anything more on that though.

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Thanks for the info everyone! Jim, I was at the Bloomington location and man was that store picked over, there was hardly any inventory left there. I'm sure my friend just mis-spoke by saying all of their stores were going to close.

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