Guns, New Format Push Cabela's To Record Quarter
Cabela’s says that thanks to its “next generation” store format and strong sales in both guns and ammunition, its fourth-quarter revenue climbed 15.2% to $1.133 billion. For the quarter, same-store sales rose a record 12%. Net income for the Lincoln, Nebraska-based sporting goods chain increased 19.7% to $89.8 million, compared to $75 million in the year-ago quarter.
"Sales and profit per square foot at our next-generation stores were 40% higher than our legacy stores,” says CEO Tommy Millner, in its release. “Comparable store sales, aided by a surge in firearms and ammunition, increased 12%, a new record, and our direct business grew 1.7%, the first increase in 11 quarters.” The company says that had gun sales been typical, “comparable store sales would have increased 5%.” Separately, the company announced it would open a new outpost store in Waco, Tex.