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News Summary: Cabela's profit sizzles

The Associated Press

THE NEWS: Outdoors retailer Cabela's said Thursday strong sales of guns and ammunition helped drive its profit up 73 percent in the first quarter.

THE CONTEXT: Consumer demand for firearms has surged in recent months on worries about the possibilities of increased regulation or bans of certain kinds of weapons in the wake of the December slayings of 20 first-graders and six adult staffers at the Sandy Hook Elementary School in Newtown, Conn.

NEW CUSTOMERS: CEO Tommy Millner said the popularity of guns and ammo is helping the chain gain more shoppers that can hopefully be turned into long-term customers.