US: Cabela's records mixed Q2 results
- Q2 earnings drop to $43.5m
- Sales edge up 0.6%
- Comparable sales down 14.2%
Outdoor and camping retailer Cabela's has booked a mixed set of results in its second-quarter, with earnings down and sales having edged up.
Net income in the three months ended 28 June dropped to US$43.5m from $44.5m a year earlier.
Sales, however, were up 0.6% to $761.2m, while retail store revenue increased 3.4% to $500.4m, Direct revenue dropped 18.3% to $147.1m. Comparable store sales decreased 14.2%.
Despite the declines, the company said it was pleased with its performance in the quarter; but added that, due to the unsettled retail environment, it was not raising its full-year guidance.
Accordingly, it reaffirmed its previous full-year guidance and continues to expect 2014 EPS to increase at a high single-digit to low double-digit rate versus 2013 adjusted earnings per share of $3.32.
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