SIDNEY, Neb., 2016-Oct-31 — /EPR Retail News/ — Cabela’s Incorporated (NYSE:CAB), the World’s Foremost Outfitter® of hunting, fishing and outdoor gear, announced today (Oct. 27, 2016) it will expand its presence in Texas by bringing the company’s unique retail experience and new store design to El Paso.
The store will join the new West Towne Marketplace development located off Exit 8 of Interstate 10 near Paseo del Norte, offering customers a convenient location in an expanding shopping area. River Oaks Properties, El Paso’s premier retail developer, is the developer of the open-air retail and entertainment destination.
Construction on the 50,000-square-foot store is expected to begin this year, and Cabela’s anticipates a fall 2017 opening. Upon opening, it will become the seventh Cabela’s location in Texas, joining Fort Worth, Buda, Allen, Waco, Lubbock and League City.
“We are focused on continuing to build and expand the Cabela’s brand and retail footprint,” said Tommy Millner, Cabela’s Chief Executive Officer. “El Paso presents a great opportunity to better serve our established customers throughout western Texas and southern New Mexico, and to introduce Cabela’s to additional outdoor enthusiasts in the region. We are excited to provide a store designed specifically for the outdoor activities and needs of that area.”
The store will offer customers an immersive outdoor experience with a 360-degree wildlife-display feature, dozens of museum-quality taxidermy mounts, vintage outdoor photos and memorabilia, and a regionally specific theme and habitat feature.
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 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.
Cabela’s expects to employ approximately 125 full-time, part-time and seasonal employees at the store, most of whom will come from the surrounding area.
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 a new retail store in El Paso, Texas. 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, Form 10-Q for the quarterly period ended April 2, 2016, and Form 10-Q for the quarterly period ended October 1, 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