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Cabela's profit rises a record 62% in Q1
Sidney, Neb. -- Cabela’s Inc. reported Thursday that net income for the first quarter rose a record 62% to $28.8 million, from $17.8 million last year.
Revenue increased 6.3% to $623.5 million, and same-store sales increased 4.2%.
"This strong performance gives us confidence our growth strategy is working and working well," said Tommy Millner, Cabela's CEO. -
And speaking of Amazon.com . . .
First quarter sales at the leading online retailer surged 34% to $13.2 billion during the first quarter ended March 31, as the company continues to enjoy a huge competitive advantage by allowing customers to avoid paying sales tax.
Despite surging sales, net income at the company declined 35% to $130 million or 28 cents a share, compared with $201 million or 44 cents a share the prior years. Operating income also declined considerably, dropping to $192 million in the first quarter compared with $322 million in first quarter 2011.