About Cabela's Incorporated

Cabela is a major seller of outdoor sporting goods that operates about 75 stores in 35-plus US states, plus 11 stores in Canada. Located mainly in the Midwest, the stores are as big as 247,000 sq. ft. and include such features as waterfalls, mountain replicas, aquariums, in-store shooting galleries, and banquet and meeting facilities. Cabela's sells footwear, clothing, and gear for fishing, hunting, camping, and other outdoor activities. Cabela's also mails more than 132 million catalogs each year, sells magazines and merchandise online, and has an outdoors show on television. Cabela's was founded in 1961 by chairman Dick Cabela and his younger brother, Jim. In 2017 the company was acquired by rival Bass Pro Shops for $4 billion.

Change in Company Type

Bass Pro Shops' acquisition of Cabela's took nearly two year to complete. As part of the transaction, Cabela’s credit card business was sold to Capital One.

Operations

In 2016 Cabela's reorganized its segment reporting. The company two segments were Merchandising and Financial Services. Merchandising was the largest segment, accounting for more than 85% of the company's total revenue. Cabela's sells products and services through its retail stores, e-commerce websites (Cabelas.com and Cabelas.ca), and catalogs. Internet and catalog business accounts for about 20% of the company's merchandise revenue. The Financial Services segment issued co-branded credit cards before it was sold off to Capital One in 2017.

About half of Cabela’s sales come from Hunting Equipment, followed by General Outdoors (more than 30%) and Clothing and Footwear (more than 20%).

Geographic Reach

Cabela’s corporate headquarters is located in Sidney, Nebraska. Its Canadian headquarters is located in Winnipeg, Manitoba. The company operates distribution centers in Prairie du Chien, Wisconsin; Wheeling, West Virginia; Tooele, Utah; and Puyallup, Washington.

Sales and Marketing

To spur sales of its outdoor products, Cabela's has been using digital marketing channels in mobile marketing and social networking.

The retailer sponsors include sportsmen and women advocacy groups and wildlife conservation organizations, including the US Sportsmen's Alliance, National Rifle Association, Women in the Outdoors, and Ducks Unlimited. It also sponsors fishing tournaments and similar events.

Cabela's retail stores generate millions of visitors per store a year, and its Kansas City, Kansas, and Owatonna, Minnesota, stores are near the top of the list in tourist attractions for those states.

The company's advertising expenses were $229 million in 2016.

Financial Performance

Despite strong revenue growth in FY2016, Cabela's net income sunk 6% to $189.33 million as it spent more toward its growth in building new stores and raising incentive compensation, incurred impairment charges on some of its stores, and faced higher corporate office restructuring costs during the year. The retailer's operating cash levels climbed 27% to $326.9 million on higher cash earnings and because it used less cash toward inventory and decreased its income tax receivables balance.

Strategy

Cabela’s first announced it was considering a sale in November 2015. The company's stock price had been declining and Cabela's restructured to reduce expenses.

Prior to being acquired by Bass Pro Shops, Cabela's chief sales and profit growth strategy had been to accelerate its retail store growth rate, with the goal of opening about15 stores annually. Most of the retailer's new stores conform to the Cabela's adaptable next-generation format, which ranges in size from about 80,000 to 125,000 sq. ft. and allows the company to expedite new store opening in prime locations. The retailer's "Outpost" store format is smaller (~40,000 sq. ft.) and boasts a "core-flex" merchandise strategy (stocking selected core merchandise with a flexible seasonal mix).

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Cabela's Incorporated

1 Cabelas Dr
Sidney, NE 69162-3028
Phone: 1 (308) 254-5505
Fax: 1 (308) 254-6669

Stats

  • Employer Type: Public
  • CEO and Director: Thomas L. Millner
  • CEO and Director: Thomas L. Millner
  • President: Scott K. Williams
  • 2016 Employees: 19,100

Major Office Locations

  • Sidney, NE

Other Locations

  • Huntsville, AL
  • Glendale, AZ
  • East Hartford, CT
  • Acworth, GA
  • Augusta, GA
  • Ringgold, GA
  • Ammon, ID
  • Post Falls, ID
  • Hoffman Estates, IL
  • Hammond, IN
  • Bowling Green, KY
  • Lexington, KY
  • Hudson, MA
  • Scarborough, ME
  • Rogers, MN
  • Hazelwood, MO
  • Billings, MT
  • Kalispell, MT
  • Missoula, MT
  • Kearney, NE
  • La Vista, NE
  • Oshkosh, NE
  • Oklahoma City, OK
  • Springfield, OR
  • Tualatin, OR
  • Hamburg, PA
  • Fort Mill, SC
  • Rapid City, SD
  • Allen, TX
  • Buda, TX
  • Fort Worth, TX
  • Waco, TX
  • Farmington, UT
  • Lehi, UT
  • Tooele, UT
  • Bristol, VA
  • Gainesville, VA
  • Lacey, WA
  • Puyallup, WA
  • Quil Ceda Village, WA
  • Union Gap, WA
  • Prairie Du Chien, WI
  • Triadelphia, WV
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