Financial Report: Direct Sales up Slightly at Cabela’s

Cataloger/retailer Cabela’s (NYSE: CAB) posted its first financial reports as a publicly-held company. The Sidney, NE-based outdoor products marketer went public on June 30, raising about $115.2 million.

Total revenue increased 11% to $279.1 million for the quarter ended July 3, compared to $250.8 million last year. Net income fell slightly to $2.0 million, compared with $3.1 million last year.

Direct revenue increased 2% to $165.9 million, compared with $163.1 million. Retail revenue increased 32%, to $96.5 million, compared with $73.0 million. Merchandise sales increased 11% to $262.3 million, compared with $236.2 million. Financial services revenue increased 10% to $15.0 million, compared with $13.6 million last year.

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