Cabela's Q4 revenue rises despite same store sales fall
24 Feb '06
3 min read
Each of the Company's three business segments grew in fiscal 2005 compared to fiscal 2004: direct revenue increased 6.9 percent to $1.0 billion; retail revenue increased 24.3 percent to $620.2 million with a same store sales decrease of 6.3 percent; and financial services revenue increased 48.6 percent to $116.1 million.
In addition, land sales in the Company's other segment increased other revenue to $25.6 million in fiscal 2005 from $8.2 million in fiscal 2004.
"They are extremely pleased with their record fourth quarter results, which represent a strong finish to another solid year," said Dennis Highby, Cabela's President and Chief Executive Officer.
"The positive momentum they experienced during the holiday season gives them a heightened degree of confidence as they head into 2006."
"Fiscal 2005 was an incredibly productive year for Cabela's, with the opening of large-format destination stores in Fort Worth, Texas; Buda, Texas; Lehi, Utah; and Rogers, Minn.," Highby said.
"These four new stores added more than 700,000 square-feet to their current operations, increasing their total number of destination retail stores to fourteen.
In 2006, they are scheduled to open five more destination stores, bringing their world-famous retail experience to their great customers in even more locations.
They also are extremely proud to have achieved $1 billion in sales in their direct business, which marks a major milestone for their Company and is a testament to the ongoing strength of the Cabela's brand.
“Highby concluded, "Cabela's powerful multi-channel model continues to provide us with a competitive advantage, and they are committed to building on their leadership position in the marketplace."
Cabela's Incorporated, headquartered in Sidney, Nebraska, is the world's largest direct marketer, and a leading specialty retailer, of hunting, fishing, camping and related outdoor merchandise.
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