Posted on 04/25/2013 2:45:14 PM PDT by Red in Blue PA
SIDNEY, Neb.--(BUSINESS WIRE)--
Cabela's Incorporated (CAB) today reported strong financial results for first quarter fiscal 2013.
For the quarter, total revenue increased 28.7% to $802.5 million; Retail store revenue increased 41.0% to $486.7 million; Direct revenue increased 18.4% to $225.2 million; and Financial Services revenue increased 2.8% to $85.8 million. For the quarter, comparable store sales increased 24.0%. For the quarter, net income increased 72.9% to $49.8 million compared to $28.8 million in the year ago quarter, and earnings per diluted share were $0.70 compared to $0.40 in the year ago quarter.
"First quarter results exceeded our expectations on every line of the income statement," said Tommy Millner, Cabela's Chief Executive Officer. "In addition to expected increases in firearms and ammunition sales, we saw particularly strong performance in softgoods and footwear. Revenue increases in the latter part of March were stronger than anticipated, which allowed us to outperform our March 12th earnings pre-announcement."
"We are particularly pleased with the broad strength we saw in comparable store sales," Millner said. "Comp store sales increased in all stores and in 10 of 13 merchandise subcategories. In addition to firearms and ammunition, we realized particularly strong growth in softgoods, footwear, optics and archery. Excluding firearms and ammunition, comp store sales increased 9%."
"We are further encouraged with the exceptional performance of our new stores," Millner said. "During the quarter, we opened two next-generation stores in Columbus, Ohio, and Grandville, Michigan, as well as an Outpost store in Saginaw, Michigan. These stores opened very strong, are exceeding expectations and are not cannibalizing nearby legacy stores. Sales and profit per square foot in new stores continue to perform 30-40% better than legacy stores.
(Excerpt) Read more at finance.yahoo.com ...
They are building two in Colorado right now.....
The Cabela’s in my area had to move their firearm background request computer area and their firearms cash registers into the ammo aisles because their ammunition stock was so bare.
Cabela’s® Announces Plans for Tualatin, Ore., Store
Expected opening in fall 2014; store to be 100,000-square-feet
http://finance.yahoo.com/news/cabela-announces-plans-tualatin-ore-115500285.html
Cabela’s® Announces Plans for Edmonton, Alberta, Canada, Store
Construction to begin this spring; doors scheduled to open in spring 2014
http://finance.yahoo.com/news/cabela-announces-plans-edmonton-alberta-115500118.html
Only opened a year now...and bidness is booming.
Biggest sellers...AR 15's and crossbows.
Just think how rare it is that a retail store can open its doors and be successful immediately. Warms the cockles of me heart (whatever that is).
What % of your gun sales are AR 15's?
I was in Phoenix last weekend, stopped by their store and spent about $100. Happy to give them the business because they support the 2A, including scary black rifles.
Moved to Colorado Springs in 1980...they had one store and did most of there business by catalog....Should have bought the stock at the IPO
PS - I opened carried a G19 in the store - no problem at all
I always OC in the Hamburg Cabela’s....mostly to let the people driving through to NY/NJ/CT/MA see what freedom truly means.
Forgot to add, the Hamburg’s Cabela’s is the largest Cabela’s store both by square feet and by sales.....and they are currently expanding!!!!!
PA is I believe home tot he largest number of NRA members of any state.....and it shows.
I am personally responsible for half of those profits! ;-) At least it feels like it.
LLS
I think the Cabela’s in Fort Worth is my 7-year-old granddaughter’s favorite store. (My son is raising her right!)
Wait until people see RGR- Rugers earnings next week.
I’d guess that these days the only time there’s that few people at the gun counter is when the store is closed.
I am a very active Cabela’s customer because I just like the company... It is a old time American success story starting off as a small mail order “fly fishing” operation. The customer service is outstanding and the employees seem to be knowledgeable about their products.
the prices are a little on the high side but the quality is usually very good and the variety is amazing.
I use the online ‘store’ as much as I do the brick front since the nearest one is seventy miles away. I probably receive a two foot pile of catalogs each year...
We were in Austin recently for a funeral and dropped on down to Buda to visit the store...
I went in to purchase several items in the gun category and left with my still empty credit card and no purchases since the items were ‘out of stock’. I was ready to spend several thousand dollars if they could produce the items. The first quarter results would have been much higher if the supply chain was not empty.
I might add that I boycott Austin retailers since the city boycotted Arizona several years back; thank goodness Buda is just south of the Austin City limits...
“There’s one on the Ohio/Michigan border...”
They had an electrical fire at that Dundee, MI store just a couple days ago. Reports were that it would be closed for about three days.
I am looking forward to them too. Own the stock and also just bought another Vaquero for CAS.
Can’t wait for it to open down in Thornton...how much longer?
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