Pure Fishing, Cabela’s and Super Retail Group report
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Jarden Corporation reported that revenues at its Outdoor Solutions division, which includes Pure Fishing, increased $8.5 million – 1.3% – to $679.1 million in the third quarter of the year.
The Outdoor Solutions Division owns one of the largest portfolios of sporting goods brands in the world with household names like CampinGaz, Coleman and ExOfficio rubbing shoulders with the likes of Shakespeare, Fenwick, Greys, PENN and Mitchell.
Overall organic sales throughout the group grew by 6.4% – $115 million – for the three months to September and 3.5% – $177 million – for the year to date.
“Organic growth was delivered in all our business segments, reflecting the strength of our brands and product offerings, which continue to provide compelling value propositions to our customers,” said Martin E. Franklin, Executive Chairman.
Cabela’s – North America’s best-known and most iconic outdoor sports retailer – says that its new stores are outperforming its legacy outlets by 40% to 60% in sales and profit per square foot.
In its Third Quarter financial report, the Sidney, Nebraska-based retailer, revealed that the 20 new format stores opened for the full period returned those impressive sales statistics.
Tommy Millner, Cabela’s Chief Executive Officer said:”With this strong performance our retail store expansion remains on track with plans to open 13 to 15 per year over the next several years.
“During the quarter, we opened six new stores, making our entrance into several significant markets.”
Millner also said that Cabela’s branded products enjoyed a good quarter and boded well for the future. “The launch of our Instinct™ line has been a success with positive customer reactions to this new innovative line. Along with that, response to our Cabela’s Guidewear fishing jackets and Cabela’s XPG™ range has given us confidence in the prospects for future growth in our branded products.”
Comparable store sales were down 11.2% and direct revenue – internet sales – declined 11.7% in the quarter – both attributed to the greater than expected decline in ammunition and shooting-related products.
In Australia, the Super Retail Group, has said that it will review the performance of Ray’s Outdoors and Fishing Camping Outdoors (FCO) following a quarter which saw sales in its Leisure Retailing Division decline by 8%.
Peter Birtles, Managing Director and Chief Executive Officer, said that sales at Ray’s Outdoors and FCO had been below expectations. “As expected the Leisure Retailing Division continues to be impacted by new store cannibalisation and weak trading conditions in mining and regional areas – this is expected to reduce in the second half of the financial year.”
He added that the group would continue to grow its store base across it three divisions, including in the Leisure Retailing Division with four new stores, the closure of two and refurbishment of three Boating Camping Fishing (BCF) outlets during the financial year.
“We expect our capital expenditure to be around AUS$90 million as we continue to invest in new stores and refurbishments, the fit-out of the new Brisbane distribution centre and the continuance of our development in multi-channel sales,” added Birtles.
The distribution centre is on track to begin operations in February.