Bass Pro Shops Outdoor World reports revenue increase
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The Pyramid – Bass Pro Shops destination attraction on the banks of the Mississippi River, Memphis – has posted its first revenue increase since opening four years ago,
The outdoor sporting goods retailer reported revenue of $45,980, 582 in 2018, an increase from the $45,795,504 of the previous year, according to city records. “They have very much stabilised,” Sean Massey, partner in the Shopping Center Group’s Memphis office told the Daily Memphian newspaper.
“Same store sales have not gone up significantly for bricks-and-mortar retailers. They are holding steady. The increase comes after Bass Pro Shops acquired its rival, Cabela’s, in September 2017 and broadened its product mix.
Privately-owned Bass Pro Shops does not disclose its sales figures, but the performance of The Pyramid is given to the city of Memphis because the property is city-owned.
Bass Pro Shops paid $1m in rent in 2018, its minimum annual rent, under a 55-year lease with the city. The money is set aside for building upkeep and improvements.
Bass Pro took $56.3m in its first 12 months of trading and sales flattened out to $46m in 2016.