Outdoor retailer Cabela’s Inc., with a store in East Hartford, on Thursday posted better-than-expected quarterly revenue, but profit came in-line with estimates as costs outstripped sales growth at its retail and financial services businesses, Reuters reports.
The company which also operates a catalog, an online business and a credit card unit, has been moderating its markdowns and improving merchandise in order to stem sluggish same-store sales, Reuters said.
Same store sales for the reported quarter fell a marginal 0.5 percent.
“We are cautiously optimistic for 2010 and are comfortable with current external estimates related to both revenue and earnings per share,” Chief Executive Tommy Millner said in a statement.
Analysts were looking at full-year earnings of $1.25 a share on revenue of $2.59 billion, according to Thomson Reuters I/B/E/S.
For the fourth quarter, net profit, adjusted for impairment and other charges, was $52.4 million or 77 cents per share, compared with $$52.7 million, or 79 cents per share, a year earlier.
Adjusted total revenue increased 4.8 percent to $921 million.
Analysts, on average, had been expecting earnings of 77 cents per share, on revenue of $910.9 million.
