Cabela’s Q3 profit, sales rise
Sidney, Neb. Cabela’s reported Tuesday that net income for the third quarter increased 5% to $19.7 million, compared with net income of $18.8 million in the year-ago period.
Total revenue rose 3.9% to $643 million. Retail store revenue increased 6% to $369 million, while direct revenue decreased 1.1% to $219 million.
Same-store sales for the period increased 2.4%.
“This is the sixth consecutive quarter of improvement in retail segment profitability,” said Tommy Millner, Cabela’s CEO. “The increase in retail operating margins is primarily due to increases in merchandising gross margins and reducing expenses as a percentage of sales.”