Outdoor gear retailer Cabela’s, which operates a store in Lacey, had a strong fiscal second quarter, with revenue increases across most of its divisions, including a better performance from online sales, the company announced.
For the quarter, Cabela’s earned a $33.9 million profit, or 47 cents a share, compared of $21.7 million, or 31 cents a share in the fiscal second quarter of 2011.
Total revenue increased nearly 12 percent in the year-over-year period, rising to $627.3 million.
Total revenue was boosted by a 17 percent rise in retail store revenue and a nearly 13 percent increase in financial services revenue – Cabela’s operates its own Visa program.
Direct revenue – Internet and call center sales – was flat in the period, down 0.7 percent to $158.5 million.
Although direct revenue was flat, it was a huge improvement over the first quarter when it fell 8 percent, chief executive Tommy Millner told analysts.
The company is working to reverse a four-year downward trend in direct revenue as the company undergoes its own print-to-digital transformation, he said.
Hot items online in the second quarter included the shooting category, fishing and home, and gifts. The boat business also had a good quarter, likely because of some past flooding in the upper Midwest, he said.
New store openings, something executives typically discuss during conference calls, include a 40,000-square-foot outpost store in Union Gap near Yakima, in October, and the company plans to open its first store in Anchorage, Alaska, in 2014.
“We have coveted a site in Alaska for a long, long time,” Millner firstname.lastname@example.org 360-754-5403 theolympian.com/bizblog