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Cabela's sees profit plummet by half in first quarter
Sidney, Neb. -- With last year’s strong first quarter fueled by a firearms and ammunition sales surge, outdoor retailer Cabela’s Inc. saw this year’s quarter end on a less stellar note.
Revenue in the first quarter fell 9.6% to $725.8 million; retail store revenue decreased 9.4% to $440.9 million. Same-store sales plunged 21.7%, compared to the same period last year.
Net income was $25.7 million, compared to $49.8 million in the year-ago quarter.
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Herrick Co. acquires 44 CVS-leased retail properties for $190 million
Boca Raton, Fla. – Real estate investment firm The Herrick Company Inc., has acquired 44 retail/pharmacy properties located throughout the U.S. The properties, all of which are occupied under long-term triple net leases with CVS Caremark, were acquired for approximately $190 million.