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 said.
rboone@theolympian.com 360-754-5403 theolympian.com/bizblog
JOIN THE DISCUSSION | Register here
We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part — and abiding by these simple rules. A thorough explanation of rules of conduct can be found in our Terms of Service. If you have any questions, including why your comment may not be showing immediately after you submit it, be sure to visit the commenting FAQ.