Cabela’s 2Q revenue up 16.6%
SIDNEY, Neb. Cabela’s reported that total revenue for its second quarter increased 16.6% to $526 million compared to $451.2 million for the second quarter of 2007. Net income for the second quarter of 2008 was $7.3 million, or 11 cents per diluted share, compared to $11.3 million, or 17 cents per diluted share, for the second quarter of 2007.
In the second quarter of 2008, retail store revenue increased 37.1% to $273.6 million with a same-store sales decrease of 1.6%.
“During the second quarter, we achieved top-line improvements in our direct and retail businesses despite a continued difficult macroeconomic environment,” said Dennis Highby, Cabela’s president and ceo. “However, revenue in our financial services segment declined year over year due to higher net charge-offs.”
Spartan Stores 1Q sales up 12.8%
GRAND RAPIDS, Mich. Spartan Stores reported that net sales for the first quarter increased 12.8% to $586.7 million from $520.2 million in last year’s first quarter.
Net earnings for the quarter increased 52.2% to $9.9 million, or 46 cents per diluted share, from $6.5 million, or 30 cents per diluted share, in the same period last year.
Fresh & Easy opens 20th store in Phoenix
PHOENIX Fresh & Easy Neighborhood Market has opened its 20th store in Phoenix, bringing its total number of U.S. stores to 67.
Fresh & Easy also announced four upcoming store openings in the Phoenix area, including the grocer’s first in Tempe, Ariz.