Cabelas, Inc. (CAB) Tops Q2 EPS by 10c; Comps Down 14.2%

Cabelas, Inc. (NYSE: CAB) reported Q2 EPS of $0.61, $0.10 better than the analyst estimate of $0.51. Revenue for the quarter came in at $761.2 million versus the consensus estimate of $773.82 million. Comparable Store Sales Down 14.2% Largely due to Ammunition, Shooting, Optics and Firearms.

“Second quarter profit and record 9.5% operating margin were excellent," said Tommy Millner, Cabela's Chief Executive Officer. "We are pleased in our ability to achieve record levels of profitability as firearms and ammunition normalize. As we approach the anniversary of the end of the firearms and ammunition surge, we are encouraged that expense initiatives, new store performance and accelerating Cabela's CLUB® growth more than offset sales weakness caused by lower than expected ammunition, shooting, optics, and firearms category performance."

"Expense reductions resulted in significant benefits in the quarter," Millner said. "They were launched in late 2013 and encompass all areas of our Company, including incentive compensation, contract labor and other corporate overhead. Accordingly, we expect further benefit in the remainder of 2014 and full year 2015. We are delighted with the entire organization's ongoing actions to lower costs."

For earnings history and earnings-related data on Cabelas, Inc. (CAB) click here.

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