Cabela's 2Q revenue up 16.6%

SIDNEY, Neb. Cabela’s reported that total revenue for its second quarter increased 16.6% to $526 million compared to $451.2 million for the second quarter of 2007. Net income for the second quarter of 2008 was $7.3 million, or 11 cents per diluted share, compared to $11.3 million, or 17 cents per diluted share, for the second quarter of 2007.

In the second quarter of 2008, retail store revenue increased 37.1% to $273.6 million with a same-store sales decrease of 1.6%.

“During the second quarter, we achieved top-line improvements in our direct and retail businesses despite a continued difficult macroeconomic environment,” said Dennis Highby, Cabela’s president and ceo. “However, revenue in our financial services segment declined year over year due to higher net charge-offs.”