Cabela's shares up on big 1Q earnings beat

NEW YORK (AP) — Cabela’s says strong sales of guns and ammunition helped drive its profit up 73 percent in the first quarter, surpassing expectations and briefly driving its shares to all-time highs on Thursday.

The retailer operates stores that sell gear for hunting, fishing and outdoor sports.

Consumer demand for firearms has surged in recent months on worries about the possibilities of increased regulation or bans of certain kinds of weapons in the wake of the December slayings of 20 first-graders and six adult staffers at the Sandy Hook Elementary School in Newtown, Conn.

The shooti...