Cabela's Opening Eight Units

SIDNEY, NE-Outdoor outfitter Cabela’s Inc. will add eight new destination stores to its lineup this year in an expansion that will bring the company’s signature gear to all but 21 states.

The company, which started the year with 12 stores, added four more destination outlets during 2006, but will double that number in 2007 when it adds new locations in Missouri, Illinois, Connecticut, Louisiana, Indiana, Nevada, Idaho and Washington. The 2006 store openings added 2.7 million sf to Cabela’s national footprint, increasing the company’s square footage by 29% from the prior year.

The company’s rapid expansion comes amid a record year for the Sidney, NE retailer, which reported a 14.7% jump in revenue to $2.6 billion in fiscal 2006, an increase of more than $20 million from the prior year’s figure. Net income for the year was also up 18.2% to $85.8 million compared to $72.6 million for fiscal 2005 while per share earnings skyrocketed 17.3% to $1.29 compared to $1.10 in the year ago period.