UPDATE 1-Gander Mountain posts Q2 loss
(Recasts; adds details)
Aug 27 (Reuters) - Outdoor-products retailer Gander Mountain (GMTN.O) posted a second-quarter loss as it was hurt by tighter consumer spending on discretionary items.
Gander Mountain, a retailer of hunting, fishing and camping equipments and accessories, reported a net loss of $4.9 million, or 20 cents a share, compared with a loss of $9.7 million, or 48 cents a share, a year earlier.
Revenue rose 16.8 percent to $252.9 million. Comparable-store sales decreased 11.7 percent in the second quarter.
Analysts were expecting the company to post a loss of 9 cents a share, before special items, on revenue of $270.4 million, according to Reuters Estimates.
"As anticipated, second quarter results reflect continuing economic pressure on consumer purchases of discretionary items, and we expect these conditions to persist in the second half of fiscal 2008," President and CEO Mark Baker said in a statement.
Shares of the St. Paul, Minnesota-based company were trading at $3.37 early Wednesday morning on Nasdaq. (Reporting by Sriram Iyer in Bangalore; Editing by Pratish Narayanan)
