Cabela's (CAB) Misses Q2 EPS by 6c

Cabela's (NYSE: CAB) reported Q2 EPS of $0.56, $0.06 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $836.3 million versus the consensus estimate of $852.89 million.

The company reaffirm expectations for a low-double-digit growth rate in revenue and a high-single to low-double-digit growth rate in diluted earnings per share for full-year 2015 as compared to full-year 2014 non-GAAP diluted earnings per share of $2.88.

“We remain on track to meet our full-year expectations and continue to see strong growth in several key merchandise categories, sequential improvement in comparable store sales, and excellent performance from Cabela’s CLUB,” said Tommy Millner, Cabela’s Chief Executive Officer. “While our second quarter results fell short of expectations, we are encouraged by several positive trends in our business, including our fifth consecutive quarter of sequential improvement in comparable store sales. U.S. comparable store sales increased 0.8% for the quarter and were led by positive comparable store sales in hunting equipment, camping, fishing, firearms, ammunition, powersports, and home/gifts. Consolidated comparable store sales decreased 0.9% largely due to currency declines affecting our Canadian business and some cannibalization impact from our Edmonton store.”

“Our new format stores continue to significantly outperform our legacy stores in sales and profit per square foot,” Millner said. “During the second quarter, we opened five new stores, and we plan to open four stores in the third quarter and two stores in the fourth quarter. We are confident that these new format stores will drive improvements in profitability and return on invested capital.”

For earnings history and earnings-related data on Cabela's (CAB) click here.

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