April 30, 2004, 12:00 AM

The Internet is creating greater profits at Sportsman’s Guide

“The increase in net earnings and earnings per share from last year`s first quarter were due primarily to higher Internet-related sales and lower levels of selling, general and administrative expenses,” the company’s earning report says.

 

The Sportsman`s Guide Inc. is attributing earnings growth and more robust profitability to its efforts to move sales to the web. Without revealing details, South St. Paul, MN-based Sportsman’s Guide, which sells discounted outdoor and sporting goods, reported that Internet sales accounted for 40% of all catalog/Internet sales, up from 34% a year ago. Gregory R. Binkley, president and CEO, added: "Once again our ongoing strategy of moving more of our business to the Internet has resulted in better than expected earnings growth and profitability."

Sales for the quarter ending March 31 were $44.6 million compared to $43.7 million a year ago. Net earnings reached $1.2 million, up 22% from, $957,000 a year ago. “The increase in net earnings and earnings per share from last year`s first quarter were due primarily to higher Internet-related sales and lower levels of selling, general and administrative expenses,” the company’s earning report says.

"The increase in Internet-related sales is the result of enhancements that we continue to make to our web sites and the improvements that we continue to make to our marketing and merchandising programs," Binkley concluded.

The company operates SportsmansGuide.com and BargainOutfitters.com

 

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