Cabela’s Q4 profit up, to debut new store concept for smaller markets
Sidney, Neb. — Cabela’s Inc. reported Thursday a fourth-quarter net income of $69.8 million, compared with $66.3 million last year. The company also announced plans to open a smaller-sized format, called Cabela’s Outpost Store, designed for markets with less than 250,000 people.
For the quarter ended Dec. 31, 2011, Cabela’s revenue, increased 5.4% to $983.7 million, and same-store sales rose 1.7%. Retail store revenue increased 9.8% to $525.6 million.
For the full year, net income increased 24% to $150.8 million compared to $121.3 million last year.
"Over the past three years, we have focused on improving profitability and after-tax return on invested capital, enabling us to accelerate growth initiatives," said Tommy Millner, CEO, Cabela’s.
The company expects to open five stores in North America in 2012, in addition to its first Outpost outlet, increasing retail square footage approximately 10%. The first Outpost store is slated to open this fall in Union Gap, Wash.
The Outpost stores will be built with Cabela’s signature rugged outdoor look and theme and will feature seasonal product assortments in an innovative “Core Flex” flexible floor plan, which will change to meet seasonal demands and provide a different look throughout the year. Revolutionary digital signage will complement the interior layout.
“We believe Cabela’s Outpost Stores will be perfectly suited to – and will be particularly successful in – the western United States and Canada,” Millner said. “We have more Cabela’s Outpost Stores on the planning table, but we can’t reveal those locations just yet.”
Looking ahead to 2013, the company expects to increase retail square footage 11%-13% with the opening of six stores and up to three additional Outpost stores.
Cabela’s also said it is relocating its store in Winnipeg, Canada, moving from a 44,000-sq.-ft. location to a new 80,000-sq.-ft. structure. Construction is scheduled to begin this spring with opening slated for spring 2013.
Celebrity stylist adds Hollywood glamour to Tiffany’s windows
NEW YORK— In honor of the 2012 Academy Awards, Tiffany & Co. has engaged the services of celebrity stylist Rachel Zoe to create a window display that highlights Hollywood glamour from the 1930s through the 1970s.
Zoe’s windows are unveiled at Tiffany & Co. flagship stores in New York City, Beverly Hills, Hong Kong, Tokyo, Singapore and London.
“To see my interpretation of glamour and luxury unveiled in Tiffany’s windows is an amazing experience,” Zoe said. “Tiffany is one of the most iconic American brands, and I am honored by this wonderful opportunity.”
Zoe designed five windows, each showcasing a particular decade and its unique take on glamour and allure, the company said.
The 1930s-inspired window features lace and Art Deco pieces, the 1940s window features diamonds and luxurious fabrics, the 1950s window pays homage to the dawn of the paparazzi with vintage cameras focused on Tiffany jewels, the 1960s-inspired window focuses on Hollywood at home, and the 1970s window is characterized by fashion that effortlessly draped the body, with a mix of influences illustrated by orchids and bamboo, along with graphic patterns of black and gold.
From Russia with media love
Here we go again. Every so often the media gets a hint that Wal-Mart Stores is looking to expand into Russia and the speculation begins. The latest report from Reuters claims that the retailer still sees opportunity in the country as it looks to possibly by the X5 chain. X5, however, is denying reports that it is in talks with Walmart. Whether a purchase in Russia will happen anytime soon remains to be seen, but anything regarding the biggest retailer and one of the biggest markets will continue to garner attention. Read the full article here.