Cabela's revenue up 4.4% in Q2Cabela's Inc. reported revenue for the second quarter increased 4.4% for a total of $549.2 million. Comparable-store sales increased 6.1% during the same period and financial services revenue increased 15.4%. Direct revenue, however, decreased 3.6% for a total of $199.5 million.
Net income for the second quarter totaled $9.1 million, or $0.14 per diluted share, compared to $7.3 million, or $0.11 per diluted share, in the second quarter of 2008.
“We continue to gain momentum in the hunting equipment category, as we take market share from our competitors and leverage our multichannel model to provide our customers with a great value proposition,” said Tommy Millner, CEO at Cabela's, in a statement.
He added that the company's “efforts to improve merchandise margins and operating efficiencies led to higher operating margin in both our direct and retail segments” during the second quarter.
Also, following a real estate review, the company has decided not to build a store in Greenwood, IN.