Posted August 7, 2017 12:30 pm by Comments

By Christen Smith

Cabela’s senior leadership blamed the company’s disappointing second quarter sales performance on Gander Mountain’s ongoing liquidation, according to a statement released last week.
The Nebraska-based sporting goods chain reported a 9.7 percent decrease in second quarter same store sales Thursday, as Internet and brick and mortar profits dipped 3.9 percent and 6.7 percent, respectively. Net income plummeted nearly 25 percent over 2016.
“Merchandise sales were challenging in the second quarter,” said Tommy Millner, Cabela’s chief executive officer, in a press release Thursday. “Since the fall election, we have continued to see a slowdown in firearms and shooting related categories. This slowdown was even more pronounced in the second quarter due to the impact of inventory liquidation by a major competitor who has filed for bankruptcy as well as the anniversary of a number of events from a year ago, including the Orlando tragedy in June of 2016.”
Gander Mountain filed for Chapter 11 bankruptcy protections in Minnesota court on March 10. Camping World, the nation’s largest recreational vehicle dealer, led the investor group that bought out $390 million worth of Gander Mountain assets, including its Overtons boating business, during an April 28 auction. CEO Marcus Lemonis said a separate liquidation company bought the

Source: Guns.com

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