Cabela’s beats Street with 68.7% profit surge in Q3
Sidney, Neb. -- Outdoor retailer Cabela’s reported Thursday that profit for the third quarter surged 68.7% to $33.3 million, compared with $19.7 million in the year-ago period. Results surpassed analysts’ expectations and mark the third straight quarter of profit rises.
Revenue rose 6% to $678.6 million, missing Wall Street’s expected $681.5 million.
“Our new next-generation stores continue to perform extremely well, thus increasing our confidence to accelerate future retail expansion in the United States and Canada,” said Tommy Millner, Cabela’s CEO.