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Cabela’s Inc. missed its second-quarter earnings estimate, but beat the sales forecast, which pushed the stock higher by more than 1 percent in pre-market trading to $54.64.

Net income for the quarter fell 5.7 percent to $37.7 million, or 55 cents a diluted share, down from $40.0 million, or 56 cents, a year ago. Adjusted earnings resulted in net income of $40.8 million and earnings per diluted share of 59 cents. This was short of the FactSet estimate for 62 cents a share in earnings.

Total revenue for the three months ended July 2 increased 11.2 percent to $929 million from $836 million a year earlier. This easily beat the FactSet estimate for $908 million. Internet and catalogue sales rose by 3.3 percent to $141.3 million, while financial services grew by 8.1 percent to $135.1 million.

“Success in our expense management efforts allowed us to take a more aggressive price and promotion approach in the second quarter,” said Tommy Millner, chief executive officer. “This approach led to improvements in transaction trends, positive comparable store sales, growth in Internet and catalog sales, and market share.”

Comparable-store sales increased 1.5 percent and U.S. comp sales grew by 2.0 percent. This was the first positive quarter of comp sales since the third quarter of 2013. The positive comps were attributed to the guns, camping, power sports and fishing categories. Gross margins decreased by 290 basis points to 32.9 percent from last year’s 35.8 percent for the same period.

The credit card business had to increase the reserves for loan losses due to high delinquency rates. The number of credit card accounts continues to grow as does the average balance per credit card. Cabela’s increased the interest and fee income on the cards, but that was offset by the increased reserves.

The company, which has been exploring strategic alternatives, said the process is continuing and ongoing.

Looking ahead for the full year, Cabela’s expects high-single-digit growth in revenue and a low- to high-single-digit improvement in earnings per diluted share.

Cabela’s stock is up 17 percent for the past year.