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Cabela’s®
Announces New Store Location in El Paso, Texas
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50,000-square-foot
store expected to open in the fall of 2017
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Sidney,
NE – November 2016 / Newsmaker Alert / Cabela’s
Incorporated (NYSE:CAB), the World’s Foremost Outfitter® of hunting,
fishing and outdoor gear, announced Thursday (October 27) 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.
Media
Contact:
Nathan
Borowski
308-255-2861
Cabela’s
Incorporated |