Fourth-quarter profits fall at Cabela's

Profits at Cabela’s dropped during the holiday season, according to the company’s fourth-quarter earnings report released Thursday. Total revenue increased, but store sales slipped 5.5 percent and costs and expenses went up.

“For the quarter, we experienced growth in merchandise sales, solid performance from Cabela’s Club, ongoing strong performance from our next generation stores, and normalization of firearm and ammunition sales,” said Tommy Millner, Cabela’s chief executive officer. “To achieve these results, we invested more in advertising and promotional spending than we had originally pl...