Cabela’s income up 28%; to accelerate expansion of smaller-store format
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 million in the year-ago period.
Total revenue rose 9% to $741.17 million, below expectations, amid weaker demand for clothing and footwear. Same-store sales rose 3.9%.
Cabela’s said that it plans to accelerate expansion of its smaller format, as a result of the strong performance of its new stores. It also noted that all new locations going forward will follow the smaller, “next generation” format. The chain now expects to open eight of the smaller stores in 2014.
The new format ranges from about 80,000 sq. ft. to 125,000 sq. ft., compared with the chain’s standard 250,000 sq. ft. model.
Moen unveils eco-friendly showerhead
Moen has announced its Moen Caldwell Four-Function Eco-Performance Showerhead, which has a flow rate of 2.0 gallons per minute (gpm), 20% less than the industry standard of 2.5 gpm. It also meets the Environmental Protection Agency’s WaterSense criteria.
"Unlike some low-flow showerheads that simply restrict the water flow, Caldwell is designed to save water while providing peak performance," said Andrea Conroy, director of retail marketing, Moen. "Plus, with four easy-to-change settings, the showerhead offers sprays ranging from an energizing massage to a full-coverage rinse."
Available at Lowe’s, the Caldwell Four-Function Eco-Performance Showerhead is featured in a Chrome finish for $29.98. The collection also features a variety of matching faucets and accessories.
Walgreens named official retail partner of the People’s Choice Awards
DEERFIELD, Ill. — Walgreens and the People’s Choice Awards on Thursday announced the drug store’s appointment as the official retail sponsor of the 39th annual People’s Choice Awards.
As part of the sponsorship, Walgreens is bringing new and distinct elements to the program. For the first time, consumers will have the opportunity to engage in early voting for two People’s Choice Awards categories. From Oct. 28 through Nov. 14, fans can cast their votes for Favorite New TV Drama and Favorite New TV Comedy by visiting Walgreens.com and DuaneReade.com. Also new this year, Walgreens will be sponsoring a special award that reflects the company’s purpose to help people "get, stay and live well within the community."
“We are thrilled to become the official sponsor for the People’s Choice Awards and look forward to engaging with our customers in a unique and exclusive way,” stated Joe Magnacca, president of daily living products and solutions for Walgreens. “The community award presented by Walgreens is an exceptional way to highlight an individual who positively impacts the community and reflects our purpose to help people get, stay and live well.”
“In the 39-year history of the People’s Choice Awards, we have never opened a category for early voting,” said Fred Nelson, president of People’s Choice. “Partnering with Walgreens to give early voting access for Favorite New TV Drama and Favorite New TV Comedy provides a great opportunity for our fans. Walgreens is helping the People’s Choice Awards provide fans with exactly what they want — the ability to vote early, vote often and have their voices heard.”