September 1, 2009

Gander Mountain Company Announces Second Quarter 2009 Results

ST. PAUL, Minn. -- Gander Mountain Company (www.GanderMtn.com) (NASDAQ:GMTN), announced results for the second fiscal quarter ended August 1, 2009.

Fiscal 2009 second quarter consolidated sales were $248.4 million compared to consolidated sales of $252.9 million for the second quarter of fiscal 2008, a 1.8 percent decrease.

Gander Mountain reported a net loss per share of $0.30 compared with a net loss per share of $0.20 for the second quarter of fiscal 2008.

Gander Mountain Company

Retail segment sales for the second quarter were $210.8 million, a decrease of $2.3 million or 1.1 percent, as compared to the fiscal 2008 second quarter. Direct segment sales were $37.6 million for the quarter, compared to $39.7 million for the same quarter last year, a decrease of 5.4 percent.

Comparable store sales during the second quarter of fiscal 2009 declined 2.4 percent. The firearms, ammunition, hunting accessories, fishing, marine and camping categories all experienced comparable store sales gains during the quarter.

"A difficult retail environment slowed Gander Mountain's progress during the second quarter, as overall sales declined slightly," said David C. Pratt, chairman and interim chief executive officer.











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