UNION GAP — Cabela’s executives expressed approval with the performance of the company’s first Outpost Store, in Union Gap, when they released fourth quarter earnings Thursday.
“This store is running ahead of our expectations, and we’re thrilled with how this store is performing,” said Cabela’s CEO Tommy Millner in a news release .
Cabela’s introduced the Outpost Store concept, designed to reach smaller markets in North America, during an earnings conference call a year ago. The 40,000-square-foot store in Union Gap opened last fall to a crowd of thousands.
With the success of the Union Gap store, Cabela’s announced plans to open additional 10 stores with the new format in the next four years. The retailer had previously announced plans to open four stores initially.
Overall it was a strong fourth quarter for the Sidney, Neb.-based outdoor sporting goods retailer. During the fiscal fourth quarter, which ended Dec. 29, comparable store sales increased by 12 percent from the same quarter a year ago. Earnings per share, however, were $0.95, lower than the $0.99 reported a year ago. The company said the lower earnings reflected a $12.5 million reduction in revenue from a Visa antitrust settlement.
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