Cabela's Inc. (NYSE: CAB), which makes hunting, fishing and outdoor gear hailed victory during Friday morning's trading, when shares soared $3.23 higher, gaining more than 15%.
Cabela's 52-week high was surpassed during earlier sessions, with shares trading as a high as $28.80. There's no doubt the rise in shares is a result of Cabela's 34% profit jump in the second quarter.
The retailer reported profit of $11.3 million on revenue of $451.2 million, against last year's second-quarter profit of $8.4 million on revenue of $387.3 million.
Shortly after 2 p.m., Cabela's shares were trading at $24.20, $3.46 higher than Thursday's $20.74 close.
The Nebraska-based company strategically opens up shop in areas such as Hazelwood, Missouri, and Greenwood, Indiana, zeroing in on their target customers to bring in revenue. According to Dennis Highby, Cabela's president and chief executive officer, Cabela's is scheduled to open seven new stores by the end of 2007. Sound risky? Never fear -- for the outdoor industry, peak selling season is here.
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Reader Comments (Page 1 of 1)
8-03-2007 @ 5:35PM
Harry said...
They need better, mor realistic art on products, like that of artist Joe Suroviec.