Fianacial Reports: Cabela’s, J.C. Penney

Cabela’s Fiscal 2007 Sales Up 14%
Fourth-quarter direct sales for outdoor sporting gear merchant Cabela’s increased 3.3%, to $446.9 million for the period ended Dec. 29. Total fourth-quarter sales for the Sidney, NE-based cataloger/retailer rose nearly 14%, to $889.5 million, compared with $781.0 million for the same period the previous year.

The company’s fourth-quarter net income increased 5.4%, to $56.2 million, up from $53.4 million. Retail sales soared 31.8%, to $401.8 million, while same-store sales fell 5.9%.

Total sales for fiscal 2007 increased 13.9%, to $2.35 billion, compared with $2.06 billion in fiscal 2006. Net income for fiscal 2007 increased 2.4%, to $87.9 million, compared with $85.8 million for fiscal 2006.

Cabela’s saw its retail sales jumped 27.2% for the year, to $1.04 billion, while same store sales slipped 1.2%. Direct sales rose nearly 4%, to $1.13 billion.

Sales, Net Income Down for Penney
Fourth-quarter sales for Plano, TX-based J.C. Penney Co. decreased 4.1%, to $6.39 billion, compared with $6.66 billion a year ago. For the quarter ended Feb. 2, the general merchant’s net income dropped nearly 10%, to $430 million, compared with $477 million a year ago. Same-store sales decreased 2.3%, while Internet sales rose 13.7%.

For the full year, J.C. Penney’s total sales slipped 0.2%, to $19.86 billion, compared with $19.9 billion for fiscal 2007. Net income fell 3.6%, to $1.11 billion, compared with $1.15 billion last year.

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