May 03, 2017
The approximately $400 million in inventory will be liquidated over a 16-week period by the consortium of Hilco, Gordon Bros and Tiger as they wind down the vast majority of Gander Mountains operations.
In updating its outlook for the first quarter and full year, SCVL said the delay in tax refund checks pushed down Feb comps mid-teens, and despite a recovery in Mar. and Apr., the comps for the quarter could not offset the key Feb. selling month and would be down 3.9%.
The action sports retailer said comps were up 7.8% against a 6.0% decrease for the four weeks ended Apr. 29 with transactions up but dollars per transaction down, and total sales were up 10% to $56.5 million.
Net loss was $60,079,000 compared to income of $11,035,000 in the first quarter ended Apr. 1 as sales tumbled 41% to $298,942,000 from $505,356,000 exceeding expectations on both the top and bottom line.
Net income increased 32% to $83.5 million from $63.2 million for the period ended Apr. 2 as sales rose 12% to $665.4 million from $593.3 million.
Lower demand for ammunition drove Olin’s Winchester segment sales down 11% in the first quarter to $162.6 million from $183.7 million as its commercial customers scaled back orders.
Net income more than tripled to $10,528,000 from $3,262,000 on a 33% sales gain to $106,330,000 from $80,217,000 in the first quarter ended Mar. 31.
The running company will launch in both countries this July, in China via a distributor and in Brazil in partnership with sporting goods retailer Centauro.
Sales for the outdoor segment leaped 20% to $115,875,000 from 96,827,000 for the first quarter ended Apr. 1 and operating income for the unit was up 24% to $34,451,000 from $27,885,000.
BDE appointed James Atkin as its director of brand management to oversee brand building initiatives, community relations, media, and athletes and sponsorships.