Cabela’s falls on lower-than-expected Q2 results
Shares of Cabela's Incorporated (NYSE:CAB) are off 14% today after the company posted a lower quarterly profit after Thursday’s close. For the second quarter, net income was $7.3 million, or $0.11 per share, compared with $11.3 million, or $0.17 per share, a year earlier. Revenues were $526 million, up 16.6% from a year ago. Wall Street was expecting $0.11 per share on revenues of $526.4 million. The outdoor equipment retailer said the soft economy and lower consumer spending lead to the quarterly decline.
At 2:06 p.m. ET, shares are at $9.93, down $1.69 from Thursday’s close. During the past year, shares have ranged from $9.67 to $28.80.
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