SIDNEY, Neb., 2016-Jul-17 — /EPR Retail News/ — Cabela’s Incorporated (NYSE:CAB), the World’s Foremost Outfitter® of hunting, fishing and outdoor gear, announced today plans to expand its retail footprint and legendary shopping experience to two new locations: Albuquerque, N.M., and Chesterfield Township, Mich.
Construction on the 70,000-square-foot store – the company’s first location in New Mexico – is expected to begin this year and Cabela’s anticipates a 2017 opening. The store will join the Legacy at Journal Center development located near the intersection of Interstate 25 and Paseo del Norte, offering customers a convenient location in an already popular shopping destination.
“We are thrilled to announce Albuquerque as our first location in New Mexico,” said Tommy Millner, Cabela’s Chief Executive Officer. “We’ve had a strong customer base through our online and catalog businesses in this area for many years. Building a store here will allow us to serve those customers better, while also introducing thousands of additional outdoor enthusiasts to the Cabela’s brand and experience.”
Cabela’s expects to employ approximately 150 full-time, part-time and seasonal employees at the store, most of whom will come from the surrounding area.
The store will offer customers an immersive outdoor experience with a 360-degree mountain and wildlife-display feature, dozens of museum-quality taxidermy mounts, vintage outdoor photos and memorabilia, and a regionally specific theme.
Additionally, the store will include an archery and firearm tech room, indoor archery range and Bargain Cave, along with thousands of outdoor products displayed using Cabela’s new layout that dedicates more square footage of floor space to the company’s core areas in hunting, fishing, camping and recreational shooting.
The new layout also will allow a more flexible product assortment as outdoor activities change throughout the year, resulting in more in-season and regionally specific gear.
Construction on the 90,000-square-foot location is expected to begin this year and Cabela’s anticipates a 2017 opening. Located about 30 miles northeast of Detroit, near the banks of the renowned Lake St. Clair, the store will be conveniently located near the intersection of Hall Road and Interstate 94, near Super Walmart and Menards.
“Chesterfield Township and the surrounding area offer remarkable opportunities for outdoor recreation, and people in that region utilize those opportunities to live an outdoor lifestyle,” Millner said. “We are extremely eager to build them a Cabela’s store and help them enjoy their outdoor passions.”
Cabela’s expects to employ approximately 175 full-time, part-time and seasonal employees, most of whom will come from the surrounding area. Upon opening, it will become Cabela’s fourth location in Michigan, joining the Dundee, Saginaw and Grand ville stores.
The store also will offer Cabela’s unique, outdoor experience and feature the company’s new floor plan, offering a regionally specific theme and product assortment.
About Cabela’s Incorporated
Cabela’s Incorporated, headquartered in Sidney, Nebraska, is a leading specialty omni-channel retailer of hunting, fishing, camping, shooting sports 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®. Cabela’s 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 new retail stores in Albuquerque, N.M., and Chesterfield Township, Mich.
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 Company’s exploration and evaluation of strategic alternatives may not result in the successful identification or completion of a strategic alternative that yields additional value for stockholders, and the exploration and evaluation process may have an adverse impact on the Company’s business; the state of the economy and the level of discretionary consumer spending, including changes in consumer preferences, demand for firearms and ammunition, 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 Company’s ability to prevent cyber security breaches and mitigate cyber security risks; the outcome of litigation, administrative, and/or regulatory matters (including the ongoing audits by tax authorities and compliance examinations by the Federal Deposit Insurance Corporation); the Company’s ability to manage credit, liquidity, interest rate, operational, legal, regulatory capital, 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; 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 January 2, 2016, and Form 10-Q for the quarterly period ended April 2, 2016), 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.
Source: Cabela’s Incorporated