Posts tagged: outdoor equipment
Unless Congress can negotiate with the Obama administration's opposition to outdoor industry duty suspension bills, the cost of footgear for hiking, biking and other outdoor activities that are manufactured overseas will increase prices nearly 38 percent, according to Outdoor Industry Association President Frank Hugelmeyer.
—Boulder Daily Camera;Nov. 29
OUTDOOR RETAILERS – Cabela’s announced this morning it is introducing a new store format that will bring the outdoor sporting goods retailer to Washington Plaza, a shopping center under construction at the former Costco property near Yakima.
The news was reported by the Yakima Herald-Republic.
The Sidney, Neb., company announced the Union Gap store, the first under its smaller “Cabela’s Outpost Store” format, during its fourth-quarter earnings call to shareholders.
Cabela’s plans to open the 40,000-square-foot store by this fall. The Post Falls Cabela's store, by comparison, has 125,000 square feet of showroom space.
Despite Cabela’s popularity, local businesses that have served Yakima Valley’s outdoor and hunting community remain optimistic.
Gary Fairbanks, owner of Fairbanks Outfitters, a fly fishing shop in Yakima, said he can compete on price, noting that he has ordered product for customers at a lower price than listed in the Cabela’s catalogs.
“They have a huge selection,” he said. “But (its) prices are quite high compared to mine.”
Read on for more details from the Yakima Herald-Republic.
RETAILING – Outdoor equipment store Cabela’s fiscal third-quarter profit rose 65 percent in the period, propelled by the elimination of an unprofitable store promotion and the strong performance of what the company calls its ”next-generation” stores, according to the McClatchy-Tribune News Services.
The Sidney, Neb.-based company, which operates a store in Post Falls, Idaho, earned $35.6 million in the quarter, up from $21.6 million in the third quarter of 2010.
CEO Tommy Millner said the elimination of a store promotion that offered customers a $150 discount on a $500 purchase helped to significantly increase its merchandise gross margins.
Millner said sales of firearms, ammunition, power sports, fishing gear and men’s apparel were strong, while weaker for optics, archery, tree stands and hunting equipment.
One analyst asked Millner what effect slower firearm and ammunition sales might have on the business. Millner said he thought that was going to happen five years ago, but sales remain strong. The company expects that trend to continue next year because it’s an election year.