Home / Knowledge / News / Apparel/Garments / Cabela's Chief very pleased by Q1 performance
Cabela's Chief very pleased by Q1 performance
03
May '11
Cabela's Incorporated reported strong financial results for first quarter fiscal 2011.

For the quarter, adjusted for divestitures, total revenue increased 5.7% to $587 million; Retail store revenue increased 11.3% to $302 million; Direct revenue decreased 4.9% to $207 million; and Financial Services revenue increased 20.7% to $72 million. For the quarter, comparable store sales increased 8.9%. On a reported basis, total revenue increased 4.8% and Direct revenue decreased 6.9%. A detailed reconciliation is provided at the end of this release.

For the quarter, the Company reported GAAP net income of $17.8 million compared to $8.1 million in the year ago quarter and earnings per diluted share of $0.25 compared to $0.12 in the year ago quarter. First quarter 2010 results include an $11.9 million after-tax charge related to a 2009 FDIC compliance examination. Adjusting 2010 results for this FDIC charge, net income for the quarter was $17.8 million compared to $20.0 million in the year ago quarter and earnings per diluted share were $0.25 compared to $0.29 in the year ago quarter, also adjusted.

"We are very pleased by our performance in the quarter as it provides strong ongoing validation our strategies are working," said Tommy Millner, Cabela's Chief Executive Officer. "Furthermore, investments in our Retail business that we began last fall and continued into the first quarter drove higher comparable store sales, increased customer satisfaction, and expanded market share. Exceptional results in Retail revenue and segment profitability, record performance at our Cabela's CLUB Visa program, and strong consolidated gross margin results led to further increases in one of our vitally important metrics - after-tax return on invested capital."

"The 230 basis point increase in after-tax return on invested capital marks the eighth consecutive quarter of expansion and is a result of our continual focus on increasing profitability while tightly managing our balance sheet," Millner said. "Over the past eight quarters we have increased after-tax return on invested capital more than 400 basis points and there continues to be further opportunities for us to improve after-tax return on invested capital."

"Sales increased in each of our 29 comparable stores in the quarter; a first for Cabela's," Millner said. "Retail segment operating margins increased for the eighth consecutive quarter to a first quarter record 11.6%, as our stores benefited from our integrated business model with the Cabela's CLUB Visa program. Our newest retail store opened just two weeks ago in Allen, Texas, to a crowd of several thousand loyal customers. This 100,000 square foot next generation store will allow us to further increase our market share in the important Dallas-Fort Worth market."


Must ReadView All

India much behind China in containerised cargo capacity

Textiles | On 18th Dec 2017

India much behind China in containerised cargo capacity

India’s total containerised cargo capacity of 8.75 million...

Vietnam’s textile & garment exports cross $26 bn till Nov

Textiles | On 18th Dec 2017

Vietnam’s textile & garment exports cross $26 bn till Nov

Vietnam earned $26.844 billion from textile and garment exports in...

Rotex Fabrics grows production with Bruckner stenters

Textiles | On 18th Dec 2017

Rotex Fabrics grows production with Bruckner stenters

The South African company, Rotex Fabrics, which is a knitter, dyer,...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search