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New store format boasts Cabela’s Q3 results
Sidney, Neb. – Cabela’s said that strong performance from its next-generation store format helped drive its third quarter net income up 16.6%, to $49.9 million compared to $42.8 million in the year ago quarter. The company also announced plans for three new stores.
Revenue grew about 15%, from $741.2 million to $850.8 million. Same-store sales grew 3.9%.
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Amazon loses less as sales keep surging
Amazon.com continued to lose money during its third quarter, although considerably less than a year ago, as its sales advanced 24% to more than $17 billion.
After the market closed on Thursday, Amazon reported a net loss of $41 million, or nine cents a share, during the quarter ended September 30, versus a net loss the prior year of $274 million, or 60 cents a share. The reduced loss coupled with sales of $17. 1 billion which exceeded analysts’ estimate of $16.8 billion caused shares to surge in after hours trading.