SIDNEY, Neb. — Revenues rose 11.6% to $627.3 million at Cabela's during its second quarter, consisting of a 16.9% increase in store revenue, a 0.7% decrease in direct revenue and a 12.8% increase in financial services revenue. Same-store sales rose 4.7%. Net income for the quarterr increased to $33.9 million compared with $21.7 million and earnings per diluted share were 47 cents compared with 31 cents, each compared with the year ago quarter. "This strong performance is company-wide and shows that our strategic initiatives have generated major improvements in our business," said Tommy Millner, Cabela's CEO. "Every key line
Sidney, Neb. -- Cabela's Inc. announced that, effective January 1, 2013, Joseph M. Friebe, executive VP and president and CEO of the chain’s World’s Foremost Bank, will transition from his current positions and will become a special advisor to the CEO of the bank through 2014, when he plans to retire. “Under Joe’s leadership, the Cabela’s Club Visa program has posted industry-leading results, which have contributed greatly to our strategic growth,” said Tommy Millner, Cabela's CEO.
Outdoor gear retailer Cabelas profit soared in its fiscal first quarter, rising 62 percent, but it was an 8 percent decline in Internet and catalog sales the area of the business that generates what the company calls its direct revenue that caught the attention of investors. Cabelas of Sidney, Neb., which operates a store in Lacey, earned a fiscal first-quarter profit of $28.8 million, or 40 cents a share, compared to net income of $17.8 million, or 25 cents a share in the same year-ago period.Revenue increased across most of the companys business segments, except for direct revenue, which
Sidney, Neb. -- Cabela’s Inc. reported Thursday that net income for the first quarter rose a record 62% to $28.8 million, from $17.8 million last year. Revenue increased 6.3% to $623.5 million, and same-store sales increased 4.2%. "This strong performance gives us confidence our growth strategy is working and working well," said Tommy Millner, Cabela's CEO.
Cabela’s reported a fourth-quarter net income of $69.8 million, compared with $66.3 million last year. The company also announced plans to open a smaller-sized format, called Cabela’s Outpost Store, designed for markets with less than 250,000 people.
Sidney, Neb. -- Cabela’s Inc. announced the signing of a new credit facility with a consortium of financial institutions led by U.S. Bank. The new $415 million, five-year credit facility replaces Cabela’s existing $350 million, five-year agreement signed in 2007. Additionally, the new facility may be increased to $500 million subject to certain terms and conditions. “The new facility provides us with long-term financing flexibility as we continue to expand our retail store footprint, increase brand loyalty through the operations of World’s Foremost Bank, focus on direct channel growth and increase our market share,” said Tommy Millner, Cabela’s CEO.