Cabela’s® Announces Plans for Three New Stores
Sidney, NEB. (PRWEB) October 24, 2013 -- Cabela’s Incorporated (NYSE:CAB), the World’s Foremost Outfitter® of hunting, fishing and outdoor gear, announced today plans to bring the extraordinary Cabela’s retail experience to three new markets – Nanaimo, British Columbia, Canada; Garner, N.C.; and Sun Prairie, Wis.
NANAIMO
Cabela’s Canada will transform a former Canadian Tire building, located at 6900 Island Highway in the Dickinson Crossing Shopping Centre, into a 50,000-square-foot store. Construction is expected to begin next year and Cabela’s Canada anticipates a fall 2014 opening. It will be Cabela’s first location in British Columbia.
The store is expected to employ approximately 150 full-time, part-time and seasonal employees. Most will come from Nanaimo and the surrounding area.
“As Cabela’s Canada continues to expand, we knew British Columbia, and especially the Nanaimo area, would be a great fit for a Cabela’s retail location,” said Tommy Millner, Cabela’s Chief Executive Officer. “The region is full of people who live the outdoor lifestyle and have supported Cabela’s through our catalog and online for many years.”
Cabela's Incorporated established Cabela’s Canada in 2007 with a retail store and headquarters for Canadian operations in Winnipeg, Manitoba. In 2010 the company moved to a 300,000-square-foot corporate headquarters and distribution centre in Winnipeg. In May of this year, the Winnipeg retail store relocated and the previous location was closed in conjunction with the new store opening.
GARNER
Construction on a 100,000-square-foot store – Cabela’s first North Carolina location – is scheduled to begin next summer and Cabela’s anticipates the store to open in the spring of 2015.
Cabela’s expects the store to employ approximately 225 full-time, part-time and seasonal employees. Most will come from the greater Raleigh area. The store will be located in the northwest quadrant of Interstate 40 and U.S. Highway 70.
The building’s exterior will reflect Cabela’s popular store model with log construction, stonework, wood siding and metal roofing. A large glass storefront will allow customers to view much of the store’s interior as they approach the building.
The inside will feature the company’s next-generation layout designed to surround customers in an outdoor experience, including museum-quality wildlife displays and a large mountain replica featuring a built-in aquarium. In addition to thousands of quality outdoor products, the store also will feature an indoor archery range, Boat Shop, Gun Library, Bargain Cave and Fudge Shop.
“Thousands of North Carolinians love hunting, fishing and spending time outdoors – and many of them are longtime Cabela’s customers – which makes this a perfect match,” Millner said. “We are thrilled to introduce the unique Cabela’s retail experience to outdoorsmen and women across North Carolina and look forward to serving them for many years to come.”
SUN PRAIRIE
Construction is scheduled to begin next year and Cabela’s anticipates a spring 2015 opening for the 86,000-square-foot store. It will be Cabela’s fourth store in Wisconsin, joining Prairie du Chien, Richfield and Green Bay. Also, the company operates a distribution center in Prairie du Chien.
The store will be located in the Prairie Lakes Shopping Center at Highway 151 and Grand Avenue. Prairie Development Ltd. is managing the development, which also includes Target, Costco and Woodman’s Market.
Cabela’s expects the store to employ approximately 200 full-time, part-time and seasonal employees. Most will come from Sun Prairie and the surrounding area.
The building will be built in Cabela’s next-generation layout, designed to surround customers in an outdoor-like experience with museum-quality wildlife displays. In addition to thousands of quality outdoor products, the store will include a large mountain replica, a Gun Library, Bargain Cave, Indoor Archery Range, Deli and Fudge Shop.
“Wisconsin has proven to be a Cabela’s kind of place,” Millner said. “We have a history of success in our Prairie du Chien, Richfield and Green Bay locations and we couldn’t be more excited to bring a store to Sun Prairie.”
Currently, Cabela’s operates 48 stores across North America with plans to open an additional 19 over the next two years.
About Cabela’s Incorporated
Cabela’s Incorporated, headquartered in Sidney, Nebraska, is a leading specialty retailer, and the world’s largest direct marketer, of hunting, fishing, camping and related outdoor merchandise. Since the Company’s founding in 1961, Cabela’s® has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the World’s Foremost Outfitter®. Through Cabela’s growing number of retail stores and its well-established direct business, it offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. Cabela’s also issues the Cabela’s CLUB® Visa credit card, which serves as its primary customer loyalty rewards program. Cabela’s stock is traded on the New York Stock Exchange under the symbol “CAB”.
Media Contact:
Nathan Borowski
308-255-2861
Cabela’s Incorporated
Investor Contact:
Chris Gay
308-255-2905
Cabela’s Incorporated
Caution Concerning Forward-Looking Statements
Statements in this press release that are not historical or current fact are "forward-looking statements" that are based on the Company's beliefs, assumptions, and expectations of future events, taking into account the information currently available to the Company. Such forward-looking statements include, but are not limited to, the Company's statements regarding opening retail stores in Nanaimo, British Columbia, Canada; Garner, N.C.; and Sun Prairie, Wis., and opening 19 new retail stores over the next two years. Forward-looking statements involve risks and uncertainties that may cause the Company's actual results, performance, or financial condition to differ materially from the expectations of future results, performance, or financial condition that the Company expresses or implies in any forward-looking statements. These risks and uncertainties include, but are not limited to: the state of the economy and the level of discretionary consumer spending, including changes in consumer preferences and demographic trends; adverse changes in the capital and credit markets or the availability of capital and credit; the Company's ability to successfully execute its omni-channel strategy; increasing competition in the outdoor sporting goods industry and for credit card products and reward programs; the cost of the Company's products, including increases in fuel prices; the availability of the Company's products due to political or financial instability in countries where the goods the Company sells are manufactured; supply and delivery shortages or interruptions, and other interruptions or disruptions to the Company's systems, processes, or controls, caused by system changes or other factors; increased or adverse government regulations, including regulations relating to firearms and ammunition; the Company's ability to protect its brand, intellectual property, and reputation; the outcome of litigation, administrative, and/or regulatory matters (including a Commissioner's charge the Company received from the Chair of the U. S. Equal Employment Opportunity Commission in January 2011); the Company's ability to manage credit, liquidity, interest rate, operational, legal, and compliance risks; the Company's ability to increase credit card receivables while managing credit quality; the Company's ability to securitize its credit card receivables at acceptable rates or access the deposits market at acceptable rates; the impact of legislation, regulation, and supervisory regulatory actions in the financial services industry, including the Dodd-Frank Wall Street Reform and Consumer Protection Act; and other risks, relevant factors, and uncertainties identified in the Company's filings with the SEC (including the information set forth in the "Risk Factors" section of the Company's Form 10-K for the fiscal year ended December 29, 2012), which filings are available at the Company's website at http://www.cabelas.com and the SEC's website at http://www.sec.gov. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. The Company's forward-looking statements speak only as of the date they are made. Other than as required by law, the Company undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.
Nathan Borowski, Cabela's, (308) 254-5505, [email protected]
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