Cabela's executives say they expect earnings to be compared to last year's Q3, which came in at 25 cents per diluted share, up 61% from the previous year due to strength in the company's retail division. Cabela's, the operator of 14 units across the country, also has catalog and financial services businesses.
The income slowdown is due to a number of factors, including the recent hurricanes in the Gulf Coast, as well as higher fuel prices, says Dennis Highby, the company's president and CEO, in a statement. However, "we continue to achieve results consistent with our long-term growth objectives," he says.
Cabela's officials expect to post a consolidated revenue increase of 12% for the quarter. For the last nine months, officials predicted that revenues would jump 15% and income to rise 13%.
This year the company has opened four units, most recently a 170,000-sf store in Lehi, UT, in August. Cabela's has a 185,000-sf store under construction in Rogers, MN, and stores planned in East Rutherford, NJ; Gonzales, LA; Glendale, AZ; Hartford, CT; Reno, NV; Wheat Ridge, CO; and Washington County, WI.
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