SIDNEY, Neb. — Revenues rose 11.6% to $627.3 million at Cabela's during its second quarter, consisting of a 16.9% increase in store revenue, a 0.7% decrease in direct revenue and a 12.8% increase in financial services revenue. Same-store sales rose 4.7%.
Net income for the quarterr increased to $33.9 million compared with $21.7 million and earnings per diluted share were 47 cents compared with 31 cents, each compared with the year ago quarter.
"This strong performance is company-wide and shows that our strategic initiatives have generated major improvements in our business," said Tommy Millner, Cabela's CEO. "Every key line of our income statement benefited. Retail and Direct channel revenue, merchandise margin, operating margin, expenses as a percentage of revenue, inventory turns, earnings per share and return on capital all improved."