Cabela's revenue offset by comps decrease

SIDNEY, Neb. Cabela's today reported that total revenue for its second fiscal quarter ended June 30 increased 16.5% to $451.2 million compared to $387.3 million for the second fiscal quarter of 2006. Net income for the second quarter of 2007 increased to $11.3 million, or 17 cents per diluted share, compared to $8.4 million, or 13 cents per diluted share, for the second fiscal quarter of 2006.

Total retail revenue increased 31.8% to $199.6 million, which included a same-store sales decrease of 0.8%. The company reported that it has seen an improvement in same-store sales early in the third quarter and remains focused on generating positive same-store sales for the year.

"As we head into our peak selling season, we are confident about our leadership position in the marketplace and our ability to achieve our long-term top and bottom line mid-teens growth rate targets for fiscal 2007," Dennis Highby, Cabela's president and ceo said. "We remain the world's foremost outfitter of hunting, fishing and outdoor gear, and we are dedicated to further building on our leadership status in the industry and capitalizing on the many growth opportunities that lie ahead."