Net loss in the first quarter expanded by 16% to $18,066,000 from a loss of $15,639,000 last year, on 9% lower revenues of $244,240,000 down from $267,529,000 in a seasonally small quarter. The 11 new stores opened in the past year helped boost the top line, but weak consumer demand blamed on inflationary pressures sent comps down 13.5%. Gross margin inched up 30 basis points to 30.2%, attributed to improved product mix and rate in the fishing category. SG&A was reduced by 5% on lower payroll and pre-opening expenses, but still ... Log in to view full article.