cabela's inc (CAB) Key Developments
Cabela’s Incorporated to Open 72,000-Square-Foot Store in Spring 2016
Dec 10 14
Cabela’s Incorporated announced plans to bring Cabela’s unique retail experience and legendary customer service to Farmington, Utah, and the greater Salt Lake City area. Construction is scheduled to begin in 2015, and Cabela’s anticipates a spring 2016 opening for the 72,000-square-foot store. It will be located in the newly planned Park Lane Commons development adjacent to Station Park on the west side of Interstate 15 near the intersection of Station Parkway and Park Lane. The store will become Cabela’s second retail location in Utah, joining the 150,000-square-foot Lehi store opened in 2005.
Cabela's Incorporated Plans to Introduce Two New Stores
Nov 18 14
Cabela's Incorporated announced that it plans to introduce Cabela's unique retail experience and legendary customer service to two new markets: Gainesville, Va., and Ottawa, Ontario, Canada. Gainesville: Cabela's anticipates a spring 2017 opening for the 79,000-square-foot store. It will be located at the intersection of Linton-Hall Road and Lee Highway and will be adjacent the Virginia Gateway Center, a 1.3 million-square-foot shopping center featuring national retail, restaurant and hotel brands. Peterson Companies Inc. is the developer. Gainesville is now Cabela's third announced location in Virginia, joining the 82,000-square-foot Bristol store scheduled to open in fall 2015, and the 97,500-square-foot Short Pump location expected to open in spring 2016. Cabela's expects to employ approximately 190 full-time and part-time employees at the store, most of whom will come from Gainesville and the surrounding area. Also, it will include a full-service boat shop and a comprehensive selection of Cabela's Wildlife and Land Management products, including tractors, attachments and implements. Additionally, the store's staff will host educational seminars and demonstrations throughout the year offering tips and insight on outdoor products and activities. Ottawa: Construction is scheduled to begin in 2015, and Cabela's plans to open the store in the spring of 2016. The 70,000-square-foot store will be located near the intersection of Palladium Drive and Highway 417. It will anchor the newly planned Kanata West Centre, which is being developed by Taggart Realty Management. The store will be Cabela's second location in Ontario, joining the 70,000-square-foot Barrie location opened in July. Cabela's expects to hire approximately 175 full-time and part-time employees, most of whom will come from Ottawa and the surrounding area. The store will be built in Cabela's new-format Canadian layout, designed to surround customers in an outdoor-like experience with a large mountain replica and museum-quality wildlife displays. In addition to thousands of quality outdoor products, the store will include an indoor archery range and archery tech room, Gun Library, Bargain Cave and fudge shop. Additionally, the store's staff will host educational seminars and demonstrations throughout the year, offering tips and insight on outdoor products and activities.
Cabela's Incorporated Presents at Northcoast Fall Management Forum, Nov-05-2014
Nov 2 14
Cabela's Incorporated Presents at Northcoast Fall Management Forum, Nov-05-2014 . Venue: Grand Hyatt Hotel, New York, New York, United States.
Cabela's Incorporated Plans to Open Stores in 2015
Oct 23 14
Cabela's Incorporated announced that looking forward to 2015, it plans to open 14 stores, including Fort Mill, South Carolina and Berlin, Massachusetts in the first quarter. In the second quarter, the company plan to open Garner, North Carolina; Sun Prairie, Wisconsin; Fort Oglethorpe, Georgia; Ammon, Idaho; and Moncton, New Brunswick, Canada. For the third quarter, the company expects to open stores in Noblesville, Indiana; West Chester, Ohio; Oklahoma City, Oklahoma; and Huntsville, Alabama. And in the fourth quarter, it plans to open the final 3 stores for the year in Bristol Virginia; Calgary, Alberta, Canada; and League City, Texas. With all locations for 2015 identified, it continues to look for 2016 locations. The company announced 3 stores to date, including 1 present in Lexington, Kentucky.
Cabela's Incorporated Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 27, 2014; Provides Earnings Guidance for the Fourth Quarter and Full Year 2014 and 2015
Oct 23 14
Cabela's Incorporated reported unaudited consolidated earnings results for the third quarter and nine months ended September 27, 2014. For the quarter, the company reported total revenue of $886.002 million compared to $850.828 million a year ago. Operating income was $93.915 million compared to $76.603 million a year ago. Income before provision for income taxes was $89.679 million compared to $72.652 million a year ago. Net income was $53.839 million compared to $49.886 million a year ago. Diluted earnings per common share were $0.75 compared to $0.70 a year ago. Non-GAAP operating income was $94.873 million compared to $75.474 million a year ago. Non-GAAP income before provision for income taxes was $90.637 million compared to $71.523 million a year ago. Non-GAAP net income was $58.324 million or $0.81 per diluted share compared to $49.111 million or $0.69 per diluted share a year ago.
For the nine months, the company reported total revenue of $2,373.026 million compared to $2,410.130 million a year ago. Operating income was $206.759 million compared to $222.653 million a year ago. Income before provision for income taxes was $196.340 million compared to $212.079 million a year ago. Net income was $123.105 million compared to $144.278 million a year ago. Diluted earnings per common share were $1.71 compared to $2.01 a year ago. Non-GAAP operating income was $208.358 million compared to $221.475 million a year ago. Non-GAAP income before provision for income taxes was $197.939 million compared to $210.901 million a year ago. Non-GAAP net income was $127.809 million or $1.78 per diluted share compared to $143.477 million or $2.00 per diluted share a year ago.
The company expects fourth quarter 2014 comparable store sales to decrease at a mid-single digit rate and total revenue to grow at a high single digit rate. The fourth quarter 2014 effective tax rate is expected to be between 34.5% and 35.5%.
The company expects full year 2014 adjusted earnings per diluted share to be between $3.10 and $3.20. The company expects full year 2014 capital expenditures to be between $400 million and $450 million. Cash flow from operations is expected to be $225 million to $275 million.
While 2015 budget is not yet finalized, the company expected to return to a low double digit growth rate in both revenue and diluted earnings per share for full year 2015.