Cabela’s, the Sidney, Neb.-based hunting and outdoor outfitter, on Thursday reported strong third-quarter sales, despite a sharp decline in the sale of ammunition and firearms.
Comparable store sales were up 3.9 percent, marking the company’s eighth consecutive quarter of improvement in that category.
Cabela’s profit was $49.9 million, or 70 cents per diluted share, up 16.6 percent from $42.8 million, or 60 cents per diluted share, at this time last year.
“Our retail stores are performing at very high levels,” Chief Executive Tommy Millner said Thursday in an investor call.
The company had revenue of $850.8 million for the third quarter, led by men’s apparel, hunting apparel and general outdoor equipment.
“Although direct revenue increased for the fourth consecutive quarter, the results fell short of our expectations,” Millner said.
Gun and ammunition sales, which had been robust since the beginning of the year, fell sharply in August. However, ammunition sales are still up over previous years, Millner said.
The company also announced plans to open stores in Nanaimo, British Columbia; Garner, N.C.; and Sun Prairie, Wis.