UPDATE 1-Gander Mountain Q2 loss widens; shares fall

* Q2 loss $7.3 mln vs $4.9 mln last year

* Q2 comparable sales down 2.4 pct

* Says will continue to manage costs, cut debt in H2

* Shares fall 11 pct before the bell

Sept 1 (Reuters) - Outdoor-products retailer Gander Mountain Co GMTN.O posted a wider second-quarter net loss, due to higher advertising expenses and markdowns to clear inventory at its discontinued boats and all-terrain vehicle categories.

Shares of the company fell 11 percent to $5 before the bell. They closed at $5.62 Monday on Nasdaq.

For the second quarter ended Aug. 1, the St. Paul, Minnesota-based company posted a net loss of $7.3 million, or 30 cents a share, compared with a loss of $4.9 million, or 20 cents, last year.

Revenue at the retailer of camping, fishing and hunting equipment, and accessories fell 2 percent, while same-store sales declined 2.4 percent.

Excluding the impact of the company’s withdrawal from boat, all-terrain vehicles and power sport services categories, sales at stores open at least a year rose 1.8 percent.

Selling, general and administrative expenses rose 110 basis points to 27.6 percent of sales, reflecting higher advertising expense, the company said. (Reporting by Abhishek Takle in Bangalore; Editing by Deepak Kannan)