Sidney, Neb. – Cabela’s Inc. said Thursday that its net income rose 28% in the third quarter, in line with expectations, as the outdoor sporting goods retailer's smaller store format outperformed its larger, standard format.
“The highlight of the quarter was the excellent performance of our new next-generation stores, which bodes well for our future,” said Tommy Millner, Cabela's CEO. “The eight next-generation stores open for the full quarter outperformed our existing legacy store base in sales and profit per square foot by a wide margin. Additionally, same store sales from our next-generation stores exceeded the performance of our existing stores by several hundred basis points.”
For the three months ended Sept. 29, the company earned $42.8 million, compared with $33.3 millio