X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Outdoors-retailer Cabela’s, known for its large-format superstores, is only in the beginning stages of its unit growth, said Chief Financial Officer Ralph Castner at the JP Morgan Consumer & Retail Holiday Conference. The chain currently has 18 stores across the country, but could open a total of 100 in North America, he says.

Major growth could come in California and New York, two states where Cabela’s does not have a location, yet has a significant subscriber base to the company’s catalog, Castner says. Management is also looking north of the border. “Given the propensity of people who hunt and fish, we need to be there,” Castner says.

Cabela’s is also rolling out smaller stores. Two recent openings, in Idaho and Nebraska, have been 130,000 sf and 120,000 sf, respectively, compared with the 160,000-sf average in the chain. It’s two smallest stores are 80,000 sf, a format that the company could look at opening more of as well, Castner says.

The Sydney, NE-based retailer currently sends out 121 million catalogs a year and also sells items on its website, though Castner says that 80% of its customers prefer to shop at Cabela’s retail locations. Guns and ammunition are currently the retailer’s best-selling items.

During Cabela’s most recently reported quarter, which ended Sept. 30, same-store sales rose 3.1% year over year. Total revenue increased 14%, to $490.5 million, and net income slid to $15 million from $16.3 million due to store-opening costs and other factors, says the company.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.