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Outdoor financials: Q3 sales up at Gander Mountain, plus Hanesbrands - SNEWS

Outdoor financials: Q3 sales up at Gander Mountain, plus Hanesbrands

Gander Mountain said its third-quarter profit rose four fold, helped by higher sales at its retail segment, and Hanesbrands priced a $500 million debt offering.
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Q3 sales up at Gander Mountain

Gander Mountain (Nasdaq: GMTN) said third-quarter profit rose four fold, helped by higher sales at its retail segment.

For the quarter ended Oct. 31, it earned $3.2 million, or $0.13 a share, compared with $0.8 million, or $0.03 cents a share, a year ago.

Revenue rose 2.5 percent to $276.6 million versus $269.9 million last year.

Sales at the company's retail segment rose 2 percent to $261.0 million.

Retail segment sales for the third quarter were $261.0 million, an increase of 2.2 percent, compared to last year. Direct segment sales were $15.6 million for the quarter, compared to $14.4 million for the same quarter last year, an increase 8.0 percent.

In September, the company had said it intends to go private, with two of its largest shareholders agreeing to buy out shares held by the remaining shareholders.



Hanesbrands prices $500 million debt offering


Hanesbrands (NYSE: HBI), parent of Duofold, said it has priced its offering of $500 million worth of 8 percent senior notes due Dec. 15, 2016, at a price of 98.686 percent of the principal amount.

Hanesbrands will pay interest semiannually on Dec. 15 and June 15, beginning this June. The company plans to use the proceeds from the notes, along with other credit, to refinance other outstanding debt.

JPMorgan Securities, Banc of America Securities, HSBC Securities (USA) and Goldman Sachs & Co. are book-running managers. Barclays Capital, BB&T Capital Markets, PNC Capital Markets and RBC Capital Markets are co-managers.

--Compiled by Wendy Geister

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