Retail store revenue increased 41.0% YoY to$486.7M. So, since we know that the non firearm and ammunition sales dragged down the overall total, the Sales Growth due to firearms and ammunition must have been MUCH GREATER than 41.0%. This would be expected since the Adj. NICS Growth was 45.9%.
Cabelas, Inc. (NYSE: CAB) reported Q1 EPS of $0.70, $0.11 better than the analyst estimate of $0.59. Revenue for the quarter came in at $802.5 million versus the consensus estimate of $772.37 million. First Quarter Comparable Store Sales Up 24.0%.
"First quarter results exceeded our expectations on every line of the income statement," said Tommy Millner, Cabela's Chief Executive Officer. "In addition to expected increases in firearms and ammunition sales, we saw particularly strong performance in softgoods and footwear. Revenue increases in the latter part of March were stronger than anticipated, which allowed us to outperform our March 12th earnings pre-announcement."
"We are particularly pleased with the broad strength we saw in comparable store sales," Millner said. "Comp store sales increased in all stores and in 10 of 13 merchandise subcategories. In addition to firearms and ammunition, we realized particularly strong growth in softgoods, footwear, optics and archery. Excluding firearms and ammunition, comp store sales increased 9%."