Cabela’s® Announces Plans for Three New Stores
Stores to open in Canada, North Carolina and Wisconsin
SIDNEY, Neb. -- 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.
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
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.
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.”
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
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”.
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 www.cabelas.com and the SEC's website at 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, 308-255-2861
Chris Gay, 308-255-2905
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