Still awaiting approval on its acquisition by Bass Pro Shops, Cabela’s reported disappointing sales for its first quarter.
Total revenue in the quarter decreased 3.4% to $834.9 million, less than expected. Revenue from retail store sales decreased 3.9% to $542 million.
Online and catalog sales fell 12.6% to $136.1 million. Same-store sales fell 8.9%. U.S. comparable store sales decreased 9.1%.
Net income fell 16.7% to $191 million in the quarter, with earnings of 28 cents per diluted share compared to 33 cents in the year ago period.
