New store format boasts Cabela’s Q3 results

Sidney, Neb. – Cabela’s said that strong performance from its next-generation store format helped drive its third quarter net income up 16.6%, to $49.9 million compared to $42.8 million in the year ago quarter. The company also announced plans for three new stores.

Revenue grew about 15%, from $741.2 million to $850.8 million. Same-store sales grew 3.9%.

“In today's difficult marketplace, the strong performance of our next-generation stores continues to be a competitive advantage,” said Tommy Millner, Cabela's CEO. “Growing our retail footprint through our next-generation store format provides an exciting vision into the future of our company.”
   
In the third quarter, Cabela’s said it had 14 of its 18 next-generation stores e open for the full period, with the new stores outperforming its legacy store base by approximately 50% in sales per square foot and approximately 60% in profit per square foot.
   
“Based on this, we plan to expand retail square footage at a low to mid-teens rate over the next several years with our next-generation and Outpost store formats,” said Millner.

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