2013 continues to be a great year for Cabela’s. The Sidney-based outdoor outfitter had another record-setting financial quarter, its shares are up almost 60% on the year, and it announced yesterday that it plans to build 4 more stores…2 of them the “next-generation” design and 2 smaller “outpost” stores in malls or similar locations.
Cabela’s CEO Tommy Millner says the company’s total revenue grew nearly 21% in the 2nd quarter to $756.8-million dollars while net income rose even more, increasing 31.5%. Millner says the numbers reflect growth at all levels with excellent performance from Cabela’s omni-channel marketing efforts and the stores.
The traditional destination stores…legacy stores in company jargon…continued to show improvement in revenue and profit per square foot while the next-generation stores had sales and profit per square foot 40% better than the legacy stores.
The new stores just announced include the company’s first two in Georgia, which Millner calls a state with “great outdoor tradition…full of sportsmen and women who share Cabela’s enthusiasm for outdoor recreation”
A 100,000 square foot next-generation store will open next fall in Acworth, a suburb of Atlanta…with a 42,00-square foot outpost store to open next spring in one of the country’s most-storied golfing locations, Augusta. The opening should be just in time for next year’s Masters.
The other new planned stores are an outpost store in Missoula…the company’s third store in Montana…and a 70,000-square foot next-generation store in Barrie, Canada…about 20-miles north of Toronto.
The newly-announced locations mean Cabala’s plans to open 19 stores over the next two years on top of its current 45 stores across the United States and Canada.