Cabela’s Incorporated to release 2Q 2017 financial results on Thursday, August 3, 2017

SIDNEY, Neb., 2017-Jul-20 — /EPR Retail News/ — Cabela’s Incorporated (NYSE:CAB) announced today (Jul. 18, 2017) it is scheduled to release second quarter 2017 financial results before the market opens on Thursday, August 3, 2017. Cabela’s will not host a conference call with analysts and investors or provide guidance in connection with the results and does not plan to do so for future quarters while the acquisition of the Company by Bass Pro Shops is pending.

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.”

Investors:
Cabela’s Incorporated
Andrew Weingardt
308-255-7428

Media:
Cabela’s Incorporated
308-255-1204

Source: Cabela’s Incorporated

Cabela’s Incorporated to release 4Q and full year 2016 financial results on Thursday, February 16, 2017

SIDNEY, Neb, 2017-Jan-24 — /EPR Retail News/ — Cabela’s Incorporated (NYSE:CAB) announced today (Jan. 19, 2017) it is scheduled to release fourth quarter and full year 2016 financial results before the market opens on Thursday, February 16, 2017. Cabela’s will not host a conference call with analysts and investors or provide guidance in connection with the results and does not plan to do so for future quarters while the acquisition of the Company by Bass Pro Shops is pending.

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”.

Investors Contact:
Cabela’s Incorporated
Andrew Weingardt
308-255-2905

Media Contact:
Cabela’s Incorporated
308-255-1204

Source: Cabela’s Incorporated

Cabela’s Incorporated reports 3Q FY 2016 financial results

  • Third Quarter GAAP Diluted EPS of $0.41 and Non-GAAP Diluted EPS of $0.53
  • Total Revenue Increased 7.6% to $996.5 Million
  • SD&A Leverage of 20 Basis Points on a GAAP Basis and 90 Basis Points on a Non-GAAP Basis
  • Cabela’s CLUB® Avg. Receivables Grew 14.8%
  • Internet and Catalog Sales Increased 3.6%
  • U.S. Retail Comparable Store Sales Decreased 1.8% on a Shift-Adjusted Calendar Basis

SIDNEY, Neb., 2016-Oct-28 — /EPR Retail News/ — Cabela’s Incorporated (NYSE:CAB) today (Oct. 26, 2016) reported financial results for third quarter fiscal 2016. The Company accelerated the timing of its earnings press release so that it could provide financial information to certain third parties in connection with the pending acquisition of the Company by Bass Pro Shops.

For the quarter, total revenue increased 7.6% to $996.5 million; revenue from retail store sales increased 8.1% to $688.6 million; Internet and catalog sales increased 3.6% to $167.4 million; and Financial Services revenue increased 8.8% to $134.5 million. During the period, adjusted for the shift in weeks, U.S. comparable store sales decreased 1.8% and consolidated comparable store sales decreased 2.3%.

For the quarter, net income decreased 35.4% to $28.2 million compared to $43.7 million in the year ago quarter, and earnings per diluted share were $0.41 compared to $0.62 in the year ago quarter. Adjusted for certain items, the Company reported third quarter net income of $36.8 million and earnings per diluted share of $0.53 as compared to net income of $50.3 million and earnings per diluted share of $0.71 in the year ago quarter. Third quarter 2016 GAAP results included impairment and restructuring charges and other items totaling a $0.12 reduction in earnings per diluted share. See the supporting schedules to this earnings release labeled “Reconciliation of GAAP Reported to Non-GAAP Adjusted Financial Measures” for a reconciliation of the GAAP to non-GAAP financial measures.

“During the third quarter, we successfully drove sales growth in several of our key merchandise categories through an aggressive promotional and markdown cadence; however, these promotional activities also resulted in a decrease in merchandise gross margins and were the primary contributor to the profitability shortfall,” said Tommy Millner, Cabela’s Chief Executive Officer. “Importantly, we saw the success of a variety of expense leverage efforts, and we continue to be excited about the Company’s announcement of our combination with Bass Pro Shops, which is expected to be completed in the first half of 2017.”

For the quarter, consolidated comparable store sales decreased 2.3% and U.S. comparable store sales decreased 1.8% as compared to the same quarter a year ago. Comparable store sales strength in firearms and shooting related categories as well as the camping, powersports, and optics categories was more than offset by continued softness in our apparel categories. Internet and catalog sales increased 3.6% in the quarter as a result of strength in fishing, camping, optics, powersports and shooting related categories.

Merchandise gross margins decreased by 420 basis points in the quarter to 31.4% compared to 35.6% in the same quarter a year ago. This decrease was primarily attributable to more aggressive pricing, increased discounts, merchandise mix, and efforts to right size inventory levels. A more aggressive approach to price, promotion and discounting was responsible for approximately 230 basis points of the overall decrease in merchandise gross margin. Merchandise mix was responsible for approximately 90 basis points of the overall decrease and efforts to right size inventory levels were responsible for approximately 50 basis points of the overall decrease.

Expense leverage initiatives continued to generate meaningful contributions to profitability. For the quarter, GAAP basis SD&A expenses as a percentage of total revenue decreased 20 basis points to 35.8% as compared to 36.0% in the same quarter a year ago. On a Non-GAAP basis SD&A expenses as a percentage of total revenue decreased 90 basis points to 34.6% as compared to 35.5% in the same quarter a year ago.

“We have been very pleased with our expense and process improvement initiatives which have continued to exceed our expectations,” Millner said. “It is important to note that the third quarter marks the fourth consecutive quarter of expense leverage at Cabela’s. These efforts span across the entire organization and I commend our teams for executing the implementation of these profitability enhancing improvements throughout the business.”

Cabela’s CLUB had an excellent quarter despite an increase in the loan loss reserve. Due to higher delinquency rates, the reserve for loan losses increased by $18.5 million in the quarter. For the quarter, growth in the average number of active credit card accounts was 6.8% and growth in average balance per active credit card account was 7.6% as compared to the same period a year ago. The average balance of credit card loans grew 14.8% to over $5.2 billion as compared to $4.6 billion in the year ago quarter. For the quarter, net charge-offs were 2.21%. Third quarter Financial Services revenue increased 8.8% over the year ago quarter. This increase was primarily driven by increases in interest and fee income as well as interchange income, both of which were partially offset by increases in the provision for loan losses as well as interest expense.

As a reminder, Cabela’s will not host a conference call with analysts and investors or provide guidance in connection with the results and does not plan to do so for future quarters while the acquisition of the Company by Bass Pro Shops is pending.

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 its proposed merger with Bass Pro Shops being completed in the first half of 2017. 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 satisfaction of the conditions precedent to the consummation of the proposed merger by and among Bass Pro Group, LLC, Prairie Merger Sub, Inc., a wholly owned subsidiary of Bass Pro Group, LLC, and the Company, including, without limitation, the receipt of stockholder and regulatory approvals; unanticipated difficulties or expenditures relating to the proposed merger; legal proceedings, judgments, or settlements, including those that may be instituted against the Company, the Company’s board of directors, executive officers, and others following the announcement of the proposed merger; disruptions of current plans and operations caused by the announcement and pendency of the proposed merger; potential difficulties in employee retention due to the announcement and pendency of the proposed merger; and the response of customers, suppliers, business partners, and regulators to the announcement of the proposed merger; 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 cybersecurity breaches and mitigate cybersecurity 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.

Contact:
Investor:
Andrew Weingardt
308-255-7428

Media:
Nathan Borowski
308-255-2861

Source: Cabela’s Incorporated

Cabela’s Incorporated to release 3Q 2016 financial results on Thursday, October 27, 2016

SIDNEY, Neb., 2016-Oct-07 — /EPR Retail News/ — Cabela’s Incorporated (NYSE:CAB) announced today (Oct. 6, 2016) it is scheduled to release third quarter 2016 financial results before the market opens on Thursday, October 27, 2016. Cabela’s will not host a conference call with analysts and investors or provide guidance in connection with the results and does not plan to do so for future quarters while the acquisition of the Company by Bass Pro Shops is pending. The Company plans to file its quarterly report on form 10-Q the same day as the earnings release.

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”.

Investor:
Cabela’s Incorporated
Andrew Weingardt
308-255-2905

Media:
Cabela’s Incorporated
308-255-1204

Source: Cabela’s Incorporated

Cabela’s Incorporated to release second quarter 2016 financial results on Thursday, July 28, 2016

SIDNEY, Neb., 2016-Jul-08 — /EPR Retail News/ — Cabela’s Incorporated (NYSE:CAB) announced today it is scheduled to release second quarter 2016 financial results before the market opens on Thursday, July 28, 2016. A conference call to discuss the results will be held at 11:00 a.m. ET that same morning. The call will be hosted by Tommy Millner, Chief Executive Officer, Scott Williams, President, and Ralph Castner, Executive Vice President and Chief Financial Officer.

A webcast of the conference call can be accessed on the Investor Relations section of the Company’s website at www.cabelas.com. To ensure access to the webcast, please visit the website at least 15 minutes prior to the call to register and download any necessary software. A replay of the webcast will be archived on the Company’s website.

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.”

Contacts:

Investors:
Cabela’s Incorporated
Andrew Weingardt
308-255-2905

Media:
Cabela’s Incorporated
308-255-1204

Source: Cabela’s Incorporated

 

Cabela’s Incorporated to release fourth quarter and full fiscal year 2015 financial results on Thursday, February 18, 2016

SIDNEY, Neb., 2016-Feb-02 — /EPR Retail News/ — Cabela’s Incorporated (NYSE:CAB) announced today it is scheduled to release fourth quarter and full fiscal year 2015 financial results before the market opens on Thursday, February 18, 2016. A conference call to discuss the results will be held at11:00 a.m. ET that same morning. The call will be hosted by Tommy Millner, Chief Executive Officer, and Ralph Castner, Executive Vice President and Chief Financial Officer.

A webcast of the conference call can be accessed on the Investor Relations section of the Company’s website at www.cabelas.com. To ensure access to the webcast, please visit the website at least 15 minutes prior to the call to register and download any necessary software. A replay of the webcast will be archived on the Company’s website.

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”.

Source: Cabela’s Incorporated

Cabela’s Incorporated
Investors:
Andrew Weingardt, 308-255-2905
or
Media:
308-255-1204

Cabela’s to explore and evaluate a wide range of strategic alternatives to further enhance shareholder value

SIDNEY, Neb., 2015-12-4 — /EPR Retail News/ — Cabela’s Incorporated (NYSE:CAB) today announced that its Board of Directors is initiating a process to explore and evaluate a wide range of strategic alternatives to further enhance shareholder value.

“We continue to believe that our Vision 2020 strategy will position Cabela’s to be the world’s best omni-channel retailer, while driving improved performance in both revenue growth and profitability,” said Tommy Millner, Cabela’s Chief Executive Officer. “That said, the Board is committed to taking actions to enhance value for shareholders and believes it is an appropriate time to explore potential strategic options that may drive further value. As the Board undertakes this exploration process, Cabela’s is focused on the execution of its business strategy and remains fully committed to serving our customers’ needs.”

“As we head into the holiday selling season, our stores are well-stocked and our outfitters are well-prepared to meet and exceed the expectations of our customers,” Mr. Millner said. “We are continuing to honor all of our commitments as usual. There have been no changes to the Cabela’s CLUB points program, the CLUB Visa card or any of the points customers have earned, including any Cabela’s gift cards that customers have bought or plan to buy in the future. I want to thank the many customers who are enrolled in our CLUB points program and who use our CLUB Visa card, who should continue to use their CLUB points and CLUB Visa cards just as they always have. We will continue to look for ways to make these programs even more rewarding in the coming year.”

Cabela’s is working with Guggenheim Securities, LLC as its financial advisor and Sidley Austin LLP andKoley Jessen P.C., L.L.O. as its legal counsel to assist in the strategic review. The Board of Directors and management team, working with advisers, plan to proceed in a timely and orderly manner, but have not set a definitive timetable for completion of this process. There can be no assurance that this review process will result in a sale transaction or other strategic alternative of any kind. The Company does not intend to disclose developments or provide updates on the progress or status of this process unless it deems further disclosure is appropriate or required.

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. Words such as “expects,” “intends,” “anticipates,” “believes,” “estimates,” “guides,” “provides guidance,” “provides outlook” and other similar expressions or future or conditional verbs such as “may,” “will,” “should,” “would,” “could,” and “might” are intended to identify such forward-looking statements. 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, 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 cybersecurity breaches and mitigate cybersecurity risks; the outcome of litigation, administrative, and/or regulatory matters (including the ongoing Securities and Exchange Commission investigation, 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; effects of the strategic review initiated by the Company’s board of directors; 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 27, 2014, and Form 10-Q for the quarterly period endedSeptember 26, 2015), 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

Cabela’s Incorporated
Investors: Andrew Weingardt, 308-255-7428
Media: Nathan Borowski, 308-255-2861
or
Joele Frank, Wilkinson Brimmer Katcher
Michael Freitag, 212-355-4449
Jed Repko, 415-869-3950