US: Cabela's Q4 misses group expectations
- Net earnings up 5.5%
- Sales grow 4.9%
- Comparable store sales fall 10.1%
Outdoor and camping retailer Cabela's said results for the fourth quarter did not meet its expectations, despite an increase in earnings and sales.
In the three months ended 28 December, net income increased 5.5% to US$94.7m compared to $89.8m in the year ago quarter.
Total sales were up 4.9% to $1.2bn, while retail store revenue increased 7.3% to $711.8m. Comparable store sales, however, were down 10.1%.
"Results for the fourth quarter did not meet our expectations, which were set earlier under more robust conditions," said CEO Tommy Millner.
"Specifically, the two biggest short-term factors affecting results in the quarter were a much sharper than expected decline in ammunition sales as compared to last year's surge and a softer than expected holiday season as evidenced elsewhere."
- Patagonia's CSR commitments re-shaping the sector
- Can Gap maintain its momentum minus Larsson?
- Brands back Cambodia industry-wide wage bargaining
- Can robotics redefine apparel manufacturing?
- Athletic players well positioned amid disruption
- Unions agree proposed Cambodia minimum wage
- New CEO may focus on Ralph Lauren supply chain
- Patagonia ramps up Fair Trade Certified apparel
- Nike collaborates on low-impact textile challenge
- Adidas unveils “game-changing” recycling project
- The future market potential for smart garments and e-textiles
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Global market review of lingerie - forecasts to 2020
- Outdoor performance apparel: peaks, valleys, and green fields