Outdoor financials: Gander Mountain's Q2 loss widens, plus Amer Sports, Collective Brands

Gander Mountain's Q2 loss widens. Amer Sports prepares for share offering; considers Mavic sale. Collective Brands' Q2 sales down 8 percent.
Author:
Updated:
Original:

Gander Mountain's Q2 loss widens

Gander Mountain (Nasdaq: GMTN) said it widened its second-quarter loss hampered by increased expenses and discounts and markdowns related to its exiting boat and ATV categories.

For the period ended Aug. 1, net loss was $7.3 million, or $0.30 per share, versus a net loss of $4.9 million, or $0.20 per share, during the same period a year ago.

Gander Mountain noted that it completed its withdrawal from the boat, all-terrain-vehicle and power sports services categories during the quarter.

Selling, general and administrative expenses climbed to $68.5 million from $66.9 million on higher advertising expenses.

Sales dropped 2 percent to $248.4 million from $252.9 million. Retail sales fell 1 percent to $210.8 million, while direct segment sales dropped 5 percent to $37.6 million. Same-store sales were down 2.4 percent.

Amer Sports prepares for share offering; considers Mavic sale

In an effort to improve its balance sheet, Amer Sports said its board of directors has decided to undertake a share offering to raise net proceeds of EUR 150 million (USD $214.6 million) through an underwritten discounted issue of new ordinary shares with pre-emptive rights for existing shareholders.

The company said the proceeds from the offering will be used to strengthen Amer Sports' financial position and to improve its operational and strategic flexibility. The offering is subject to shareholder approval at an Extraordinary General Meeting scheduled for Sept. 23.

J.P. Morgan and Pohjola are acting as joint global coordinators, joint lead managers and joint bookrunners for the contemplated offering.

In other company news, Amer Sports said it is considering strategic alternatives to focus its business portfolio more toward categories where it believes it has the best long-term opportunities. It is exploring alternatives for its Mavic cycling business, which may include a sale of the brand.

Collective Brands' Q2 sales down 8 percent

Despite a doubling of its earnings, Collective Brands (NYSE: PSS), parent of Saucony and Hind, said its second-quarter sales dropped 8 percent.

Earning were $18.7 million, or $0.29 per share, for the quarter ended Aug. 1. By comparison, the company earned $8.1 million, or $0.13 per share, during the year-earlier period.

Not including one-time items, Collective Brands said last year's second-quarter profits would have been $0.50 per share.

Revenue during the quarter decreased 8 percent from a year ago to $836.3 million from $911.7 million.

--Compiled by Wendy Geister

For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.snewsnet.com/cgi-bin/snews/stock_report.html.

Related

Outdoor financials: Gander Mountain Q1 loss widens, plus Sport Chalet, Amer Sports

Gander Mountain Q1 loss widens Despite an 18.2 percent in sales, Gander Mountain (Nasdaq: GMTN) reported a wider first-quarter loss as consumers cut back on their discretionary spending. For the quarter ending May 3, it reported a loss of $24.4 million, or $1.02 per share, ...read more

Fitness financials: Collective Brands' Q2 sales down 8 percent, plus Amer Sports

Collective Brands' Q2 sales down 8 percent Despite a doubling of its earnings, Collective Brands (NYSE: PSS), parent of Saucony and Hind, said its second-quarter sales dropped 8 percent. Earning were $18.7 million, or $0.29 per share, for the quarter ended Aug. 1. By comparison, ...read more

Outdoor financials: Gander Mountain Q2 loss narrows, plus Crocs, Dick's, Eddie Bauer, Wellman

Gander Mountain Q2 loss narrowsGander Mountain (Nasdaq: GMTN) said its second-quarter loss narrowed as the company cut advertising expenses in half and lowered store operating costs. Gander reported a loss of $7.6 million, or $0.53 per share, compared with $10.4 million, or $0.73 ...read more

Outdoor financials: Amer Sports' EBIT boosted by winter/outdoor business segment, plus Under Armour, Rocky Brands, Gander Mountain, Garmin, West Marine

Amer Sports' EBIT boosted by winter/outdoor business segment A weak U.S. dollar knocked Amer Sports Group's first-quarter net sales down by 5 percent, while the winter and outdoor business segment helped improve the company's earnings before interest and taxes. Amer Sports is the ...read more

Outdoor financials: Gander Mountain narrows Q1 loss, plus Dick's, Stride Rite, Crocs, Jarden, Hibbett, Amer

Gander Mountain narrows Q1 lossGander Mountain's (Nasdaq: GMTN) fiscal first-quarter loss narrowed slightly, while revenue increased. For the quarter ended May 5, the loss totaled $22.8 million, or $1.14 per share, versus a loss of $23 million, or $1.61 per share in the same ...read more

Outdoor financials: Kellwood posts Q3 loss, plus Wellman, Gander Mountain, Forzani Group, Collective Brands

Kellwood posts Q3 loss Kellwood (NYSE: KWD) reported a third-quarter loss due to hefty impairment and restructuring charges, more markdowns and declining women's sportswear sales. Kellwood is the parent of various outdoor brands, including Sierra Designs, Kelty, Royal Robbins, ...read more

Outdoor financials: Quiksilver reports wider Q2 loss, plus Garmin, Johnson Outdoors, VF Corp., Collective Brands

Quiksilver reports wider Q2 loss Quiksilver (NYSE:ZQK) reported a wider loss in its second quarter due to a higher shortfall from discontinued operations. For the quarter ended April 30, the company recorded a loss of $206.2 million, or $1.59 per share, compared with a loss of ...read more

Outdoor financials: Amer Sports' apparel/footwear Q2 sales up 25 percent, plus Crocs, Liberty Media

Amer Sports' apparel/footwear Q2 sales up 25 percent Amer Sports said its second-quarter net sales were on par with last year's numbers, but it still faces challenging market conditions, particularly in the United States. Net sales were EUR 284.7 million (USD $410.0 million) ...read more

Outdoor financials: Gander reports Q2 loss and declining same-store sales, plus VF Corp., Dick's, Johnson Outdoors, Sport Chalet, Sportsman's Guide, Outdoor Channel, Wellman

Gander reports Q2 loss and declining same-store salesGander Mountain (Nasdaq: GMTN) shares dropped more than 10 percent after it reported a second-quarter loss more than double a year ago and said that same-store sales will probably be flat for the year. Previously, the company's ...read more