SIDNEY, NE-Outdoor outfitter Cabela’s Inc. will add eight new destination stores to its lineup this year in an expansion that will bring the company’s signature gear to all but 21 states.

The company, which started the year with 12 stores, added four more destination outlets during 2006, but will double that number in 2007 when it adds new locations in Missouri, Illinois, Connecticut, Louisiana, Indiana, Nevada, Idaho and Washington. The 2006 store openings added 2.7 million sf to Cabela’s national footprint, increasing the company’s square footage by 29% from the prior year.

The company’s rapid expansion comes amid a record year for the Sidney, NE retailer, which reported a 14.7% jump in revenue to $2.6 billion in fiscal 2006, an increase of more than $20 million from the prior year’s figure. Net income for the year was also up 18.2% to $85.8 million compared to $72.6 million for fiscal 2005 while per share earnings skyrocketed 17.3% to $1.29 compared to $1.10 in the year ago period.

In the fourth quarter ended Dec. 30, 2006, revenue was up 15.6% to $781 million and net income rose 25.5% to $53.4 million. Each of the firm’s business segments trended strong during the quarter. Direct revenue from catalogue and website sales rose $25.2 million, or 6.2%, to $432.4 million while retail revenue jumped 27.3% to $304.9 million. Sales at stores open at least a year were up slightly at 1.7% while revenue from the company’s credit card business increased 33.1% to $38.5 million.

“Our record fourth quarter results represent an extremely gratifying way to end another important year for Cabela’s,” said Dennis Highby, the firm’s president and CEO. “During the quarter, we generated solid gains across all our business segments, and this positive momentum continues as we enter fiscal 2007.”

Highby said the company also sharpened operations during the year through a series of initiatives, including enhanced in-store merchandising, improved retail stock position and the implementation of a new warehouse and merchandising management system that will help track inventory.

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