FINANCE

Cabela’s reports rise in sales and profits for Q2, to ramp up store openings

BY Katherine Boccaccio

Sidney, Neb. — Cabela’s reported Thursday that net income for second quarter rose to $22.3 million, from $19.4 million in the year-ago quarter.

Total revenue increased 7.7% to $562.1 million, and same-store sales increased 4.4%.

"We are very pleased with the improvements in virtually all elements of our areas of strategic focus," said Tommy Millner, CEO. "We expect to realize further increases in return on capital as we continue to increase profitability and tightly manage our balance sheet for the rest of the year and beyond."

Millner said the performance, particularly from the recently opened next generation stores, will allow the outdoor retailer to accelerate new store openings, and said the chain expects to open five new stores in 2012 — four in the United States and one in Canada, the largest number of store openings in four years for the retailer.

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Whole Foods Q3 profit jumps 35%, on track to open near dozen stores

BY Katherine Boccaccio

Austin — Whole Foods Market reported Wednesday a profit jump of 35% to $88.5 million, compared with $65.7 million in the year-earlier period.

Revenue rose 11% to $2.4 billion, meeting Wall Street expectations, and same-store sales rose 8.4%.

With its strong showing, particularly as its traditional grocer peers struggle with shrinking margins and curbed spending, Whole Foods raised its full-year forecast and said it would add stores in 2011. On the heels of seven store openings in the third quarter, including three relocations, and two openings so far in the fourth quarter, the grocer said it expects to add three additional new stores in the fourth quarter and is on track to open another eight in 2012.

"We are continuing to gain market share at a faster rate than most public food retailers as reflected in our 8.5% comparable store sales growth year to date,” said Walter Robb, co-CEO of the company. "We see a new era of possibility for Whole Foods Market as customers increasingly embrace healthier lifestyles, and we look forward to accelerating our growth in the coming years."

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FMI names Heather Garlich director of media, public relations

BY CSA STAFF

ARLINGTON, Va. — The Food Marketing Institute on Wednesday named Heather Garlich as the association’s director of media and public relations. She will be responsible for managing communications outreach and information activities related to FMI’s strategic goals, including government relations, food safety, conferences and events, and industry relations.

“We are pleased to welcome Heather to the FMI communications team,” FMI president and CEO Leslie Sarasin said. “Her wealth of experience in consumer, trade and government communications, coupled with her skills in media relations, will most decidedly enrich FMI’s presence as the voice of the food retail community.”

Prior to joining FMI, Garlich spent nearly four years at Porter Novelli Public Services in the food and nutrition practice. At the firm, she held management roles on numerous clients, such as Welch’s, Almond Board of California and Pharmavite, developing business plans related to nutrition policy, food science and current trends. Garlich’s experience spans multiple communications platforms, including stakeholder relations, traditional press and digital media strategies.

In addition, Garlich’s history includes trade associations, as she previously served as the manager for member communications at the Grocery Manufacturing Association and was an integral part of the 2006 merger of GMA and the Food Products Association. Garlich holds a bachelor’s degree in English with a journalism concentration from the University of Delaware.

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