FINANCE

Cabela’s net income, revenue grow during Q4, fiscal year 2013

BY Dan Berthiaume

Sidney, Neb. — Net income and revenue increased at Cabela’s during the fourth quarter and full fiscal year 2013. For the quarter, net income rose 18% year-over-year to $80.1 million from $68 million, and for the year grew 29% to $224.4 million from $173.5 million.

Meanwhile, revenue increased 3% during the quarter, to $1.08 billion from $1.05 billion, and 14% during the year, to $3.2 billion from $2.8 billion. Same-store sales dropped 3.5% during the quarter Tommy Millner, CEO of Cabela’s, said soft same-store, ammunition and holiday sales led to fourth quarter growth that did not meet expectations.

"Cabela’s revenue and earnings per share for the full year grew at a double-digit rate for the fifth consecutive year," said Millner, Cabela’s CEO. "However, results for the fourth quarter did not meet our expectations, which were set earlier under more robust conditions. Specifically, the two biggest short-term factors affecting results in the quarter were a much sharper than expected decline in ammunition sales as compared to last year’s surge and a softer than expected holiday season as evidenced elsewhere. On the other hand, comparable store sales excluding firearms and ammunition were down 3.5% with positive comparable store sales in hunting apparel, men’s casual apparel, footwear and non-shooting related hunting equipment in the quarter."

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MARKETING/SOCIAL MEDIA

Catalogs.com launches Dynalog

BY Dan Berthiaume

Fort Lauderdale, Fla. — Catalogs.com has launched Dynalog, a new dynamic digital catalog solution that enables retailers to create interactive e-catalogs that are optimized for Web and mobile devices. The solution does not use PDFs or shrink down existing catalogs into digital format, but allows retailers to develop, customize and launch customized digital catalogs within 30 minutes.

“Clients are finding it extremely easy and effective to email their Dynalog to existing customers, add it on newsletters, and share it on social media platforms including Facebook, Pinterest and Twitter,” said Richard Livensky, president and co-founder of Dynalog. “The best part about Dynalog is that it delivers a far superior experience at a fraction of the cost of developing a PDF catalog.”

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REAL ESTATE

Gourmet Garage to sixth Manhattan location

BY Michael Fickes

New York City — Gourmet Garage, an upscale market with five Manhattan locations, has signed a lease for a sixth Manhattan location at Collect Pond House, a co-op building at 366 Broadway.

The market will occupy approximately 6,435 sq. ft. on the ground floor and 3,510 sq. ft. in the lower level. An additional 910 sq. ft. in the mezzanine will provide seating.

“366 Broadway sits at the apex of SoHo, Tribeca and the Financial District, and this area is currently in transition as many of the buildings on Broadway go through residential conversions,” said Darrell Rubens, executive VP of Winick Realty Group (www.winick.com), which represented the co-op board at Collect Pond House in the transaction.

Shopping Center Group and Vision Property Group LLC represented Gourmet Garage.

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