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NRF forecast: 2011 retail sales to rise 4%
New York City -- The National Retail Federation said Thursday that it expects retail sales growth of 4% this year, the biggest increase since 2006.
However, the group warned that shoppers are likely to remain cautious as they cope with slow job growth and rising prices.
The NRF said it expects retail sales to reach $2.47 trillion in 2011, up from $2.37 trillion in 2010, excluding automobiles, fuel and restaurants.
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Cabela's reports profit, sales rise in Q4
Sidney, Neb. -- Cabela's reported Thursday that net income for the quarter ended Jan. 1 rose to $59.9 million, compared with $52.4 million in the year-ago period.
Total revenue for the quarter increased 8.4% to $934 million; retail store revenue increased 11.4% to $479 million.
Same-store sales increased 7.3%.
"With this quarter's performance, it is clear our strategies are working and we are gaining momentum," said Tommy Millner, Cabela's CEO.