Cabela's reports rise in sales and profits for Q2, to ramp up store openings

Sidney, Neb. -- Cabela's reported Thursday that net income for second quarter rose to $22.3 million, from $19.4 million in the year-ago quarter.

Total revenue increased 7.7% to $562.1 million, and same-store sales increased 4.4%.

"We are very pleased with the improvements in virtually all elements of our areas of strategic focus," said Tommy Millner, CEO. "We expect to realize further increases in return on capital as we continue to increase profitability and tightly manage our balance sheet for the rest of the year and beyond."

Millner said the performance, particularly from the recently opened next generation stores, will allow the outdoor retailer to accelerate new store openings, and said the chain expects to open five new stores in 2012 -- four in the United States and one in Canada, the largest number of store openings in four years for the retailer.