UP!

CAB $61.5   View long term graphs

Cabela's
Type
Subsidiary
Traded as NYSE: CAB
Industry Retail
Founded Chappell, Nebraska, U.S. (1961)
Founder Richard N. "Dick" Cabela
Jim Cabela
Headquarters Sidney, Nebraska
Number of locations
82 (May 2016, U.S. and Canada)
Key people
Jim Cabela
(Chairman)
Thomas Millner
(CEO)
Scott Williams
(President)
Products Hunting, fishing, and outdoor merchandise
Revenue Increase US$4.129 billion (2016)
Operating income
Decrease US$273.94 million (2016)
Net income
Decrease US$146.95 million (2016)
Total assets Increase US$8.97 billion (2016)
Number of employees
19,100 (2016)
Parent Bass Pro Shops
(2017–present)
Website www.cabelas.com

Cabela's Inc. is an American direct marketer and specialty retailer of hunting, fishing, boating, camping, shooting, and related outdoor recreation merchandise, based in Sidney, Nebraska. The company was founded by Richard N. Cabela in 1961 and went public in 2004, with that fiscal year's revenue reaching $1.56 billion, a 50% growth since 2001.

Its direct marketing operation is one of the largest in the United States. Cabela's mail-order catalogs are shipped to 50 states and 120 countries. More than 120 million catalogs were mailed in its first year as a public company. It also has "Trophy Properties LLC" (a real estate market), the "Gun Library" (for buying and selling new, used, and collectible firearms), and World's Foremost Bank (the issuer of Cabela's Club Visa credit cards).

The company that would become a sporting goods reseller and chain was started in 1961. Richard (Dick) N. Cabela purchased $45 worth of fishing flies at a furniture expo in Chicago which he then advertised for sale in a local newspaper advertisement. When his first effort produced only one response, he placed an ad in a national magazine, Sports Afield, which was more successful. Included with each order was a catalog of other products for sale by Cabela.

As the business grew, Cabela and his wife Mary moved their operation to Sidney, Nebraska in 1963. Dick's brother Jim also joined the business. From those modest beginnings, the company has since grown to a publicly traded corporation with over $3 billion in annual sales.

On February 17, 2014, founder Dick Cabela died at his home in Sidney, Nebraska, at the age of 77.

Founders Dick and Mary Cabela and Dick’s brother James Cabela retained 25% ownership of the now public company which trades under the stock symbol CAB.

About half of Cabela’s sales come from hunting-related merchandise with about a third derived from the sale of firearms, ammunition and accessories in 2012. Additionally, in 2012 30% of revenue came from direct sales (through catalog and online orders), and 59% from physical retail stores. The remaining 11% of revenue came from its financial subsidiary and credit card business.

In 1996 Gander Mountain, prior to declaring bankruptcy, sold its mail order business to Cabela's with a no-compete clause. In 2007, Cabelas brought suit against them to prevent their re-entry into the mail-order business. Gander Mountain won the lawsuit and began selling online as well.

In February 2013, Cabela's sued Gander Mountain for patent infringement over a fold-up cot that Gander was selling. In December 2013, Gander sued Cabela's for cybersquatting.

As of December 2013, the company had performed strongly in the $646 billion outdoor recreation sector with a stock price gain of close to 50% and consolidated revenue moved up 14.8% year-over-year to $850.8 million. Earnings per share came in at $0.70 which was higher than 2012's earnings of $0.60 per share.

In March 2014, Cabela's sold their recreational real estate division, Cabela's Trophy Properties, to Sports Afield.

In December 2015, Cabela's sold their Outdoor Adventures & T.A.G.S. divisions to Worldwide Trophy Adventures.

On October 3, 2016, Bass Pro Shops announced an agreement to acquire Cabela's for $5.5 billion.

Cabela's has a distinctive look to its retail operations, a look which turns its retail stores into tourist attractions. The stores are more like cavernous showrooms, bringing the outdoors inside. They feature museum-quality displays of taxidermied wildlife, large aquariums, indoor mountains, and archery ranges. The success of the format is illustrated by the company's Kansas City, Kansas store at over 180,000 square feet (17,000 m), which attracted more than four million customer visits in one year. Currently, the largest Cabela's retail facility is in Hamburg, Pennsylvania, with more than 250,000 square feet (23,000 m) of floor space.

Plans for international expansion began to develop, and in 2007, Cabela's purchased family-owned S.I.R. Warehouse Sports Store in Winnipeg. In 2010, the Canadian Head Office and Distribution Centre moved across the city, leaving the original location as only a retail store. The company had intended to be a part of the 1,400,000-square-foot (130,000 m) Lac-Mirabel project near Montreal, which was to include 220,000 square feet (20,000 m) of retail space, and was planned to open in 2008. But instead, rival chain Bass Pro Shops became one of the mall anchors. In 2011 Cabela's opened a 70,000-square-foot (6,500 m) store in Edmonton, Alberta and a 50,000-square-foot (4,600 m) store opened in Saskatoon in 2012 another 70,000-square-foot (6,500 m) store in Calgary, Alberta opened in 2015. A 6500m2 store will anchor the new McCallum Junction retail development in Abbotsford, British Columbia from June, 2016.

The 85,000-square-foot (7,900 m) store just off Interstate 80 on the southern edge of Sidney, Nebraska illustrates some of the elements. The grounds include a 3 2 acre pond and two bronze double-life-size bull elk on one side of the building. Inside, moss rock pillars hold trophy elks of huge proportions. A 27-foot (8 m)-tall replica of a mountain is framed in a 48-foot (15 m) mural of blue sky. The mountain is covered with 40 lifelike game trophies and features a waterfall and ponds. Suspended in the air between the entryway and the mountain is a flock of stuffed Canada geese.

Their retail showrooms include a restaurant, a gun library, where one can see examples of the gunmaker's art, and a travel service. The Boise store has a museum dedicated to Elmer Keith. The Cabela's in Maine has an amusement park style shooting gallery, featuring handguns and rifles.

The newest Cabela's retail store locations opened in Huntsville, Alabama, on September 30, 2015, and Bristol, Virginia, on October 1, 2015. These are the first Cabela's retail store locations in Alabama and Virginia. Another nine stores, including Garner, North Carolina, and Fort Mill, South Carolina, are scheduled to open in 2015–16. The company has announced plans to nearly double its number of current retail locations within the next four years.

In early 2012, Cabela's unveiled a new retail initiative called Cabela's Outpost Stores. According to the press release for the Union Gap, Washington, location, they "will introduce the unique Cabela's retail experience to customers in underserved markets across the United States and Canada". The first outpost store opened in Union Gap in the fall of 2012.

On October 3, 2016, Cabela's announced Bass Pro Shops will acquire Cabela’s for $5.5 billion. Both companies are major outdoor apparel and equipment retailers. During mergers, the synergies between entities is emphasized, however it seems that both retailers in this instance have complementary business philosophies, product offerings and expertise. Further the two retailers have different geographic footprints. Cabela’s 85 stores are concentrated in Canada and the Eastern USA. Bass Pro Shops, conversely, has 99 stores with a concentration in the Western USA and Canada.

Tommy Milner stressed that the company had reviewed a range of options that would maximize value, with the Cabela's board choosing to be acquired by Bass Pro Shops.

The new entity will keep Cabela’s base in Sidney and Lincoln, Nebraska. John Morris will continue as CEO of the new entity, and will be the majority shareholder of the new privately held entity.

The deal is being financed via preferred equity financing from Goldman Sachs and Pamplona Capital Management. Goldman Sachs will contribute $1.8 billion towards financing and Pamplona will contribute the remainder for a total commitment of $2.4 billion. The new entity was expected to be formed and in operation in Q1 or Q2 of 2017.

On July 5, 2017, the Federal Trade Commission approved the merger of Cabela’s and Bass Pro Shops. The merger was complete on September 25, 2017.

Founded on March 23, 2001 (FDIC Certificate #57079), Cabela's financial subsidiary is named World’s Foremost Bank (WFB, a play on Cabela’s marketing moniker, World’s Foremost Outfitter). The bank's primary activity is as a credit card issuer for the Cabela’s Club Visa card, a branded rewards card. With 11% of total sales attributed to the subsidiary, in 2013 it ranked as the 13th largest issuer of credit cards in the US. Around a third of Cabela's customers have this Visa card.

The subsidiary consists of a single-branch bank with a deposit market share in the state of Nebraska of just under 1.2 percent, with $505 million in deposits as of 2011. As of the end of 2012, the bank claimed to have $3,731,567,000 in assets.

Sean Baker was appointed president of World’s Foremost Bank and chief executive officer on January 1, 2013. Baker replaced Joseph M. Friebe, whose planned retirement was announced in June 2012.

In its annual report, Cabela's announced that it has reached a settlement with the Federal Deposit Insurance Corporation (FDIC) regarding its credit card policies and practices. It was ordered to repay wronged cardholders $10 million plus a $250,000 penalty. The subsidiary did not admit to or deny the FDIC's finding, but agreed to do the following:

Additionally, the FDIC required WFB to make certain changes in their management policy to increase oversight of their credit card business and to prevent further unfair practices.

The Bank entered into a $411.7 million commitment with the Royal Bank of Canada under a series of variable funding notes issued by Cabela's Credit Card Master Note Trust. The loan is for three years and accrues interest at a variable rate of commercial paper plus a spread.

Cabela's has produced several television series, which are called Cabela's Outfitter Journal and Cabela's Memories in the Field. They are broadcast on WildTV and The Outdoor Channel. They currently produce Cabela's Instinct: Expedition, which first aired in 2016. It is broadcast on The Outdoor Channel.

Cabela's has produced several series of video games for a variety of gaming platforms, including Cabela's Big Game Hunter series, Cabela's Dangerous Hunts series, and Cabela's Outdoor Adventures series.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2017 2018-02-15 Future report Set alerts
Q3 2017 2017-10-26 Future report Set alerts
Q2 2017 2017-08-03 0.53 0.41
Q1 2017 2017-05-04 0.40 0.28
Q4 2016 2017-02-16 1.05 0.84
Q3 2016 2016-10-26 0.53 0.41
Q2 2016 2016-07-28 0.59 0.55
Q1 2016 2016-04-28 0.43 0.33
Q4 2015 2016-02-18 1.26 1.14
Q3 2015 2015-10-22 0.71 0.62

Ratings

2016-06-29 Reiterated Rating MKM Partners Buy $56.00
2016-05-16 Reiterated Rating Sterne Agee CRT Neutral
2016-05-07 Upgrade Forward View Speculative Buy to Buy
2016-04-28 Reiterated Rating Sterne Agee CRT Hold
2016-04-07 Boost Price Target Goldman Sachs Neutral $42.00 to $50.00
2016-04-07 Boost Price Target Goldman Sachs Group Inc. Neutral $42.00 to $50.00
2016-03-16 Reiterated Rating Credit Suisse Neutral $38.00
2016-03-16 Reiterated Rating Credit Suisse Group AG Neutral $38.00
2016-02-22 Upgrade Bank of America Neutral to Buy $74.00 to $88.00
2016-02-22 Upgrade Forward View Hold to Speculative Buy $47.00 to $49.00
2016-02-21 Reiterated Rating Sterne Agee CRT Neutral $45.00
2016-02-19 Reiterated Rating Piper Jaffray Hold $37.00 to $39.00
2016-02-19 Boost Price Target Goldman Sachs Neutral $39.00 to $42.00
2016-02-19 Reiterated Rating Piper Jaffray Cos. Hold $37.00 to $39.00
2016-02-16 Lower Price Target DA Davidson Neutral $50.00 to $44.00
2016-01-20 Upgrade Forward View Underperform to Hold
2015-12-17 Reiterated Rating Sterne Agee CRT Neutral $45.00
2015-12-16 Downgrade SunTrust Buy to Neutral $45.00
2015-12-16 Downgrade SunTrust Banks Inc. Buy to Neutral $45.00
2015-12-04 Reiterated Rating DA Davidson Hold
2015-12-03 Boost Price Target DA Davidson Neutral $41.00 to $50.00
2015-12-03 Boost Price Target MKM Partners Buy $45.00 to $56.00
2015-11-04 Initiated Coverage Barclays Overweight $50.00
2015-11-04 Initiated Coverage Barclays PLC Overweight $50.00
2015-11-02 Boost Price Target SunTrust Buy $60.00 to $63.00
2015-10-23 Lower Price Target SunTrust Buy $57.00 to $45.00
2015-10-23 Lower Price Target MKM Partners Buy $57.00 to $45.00
2015-10-23 Downgrade Sterne Agee CRT Buy to Neutral
2015-10-23 Downgrade Northcoast Research Buy to Neutral
2015-10-23 Downgrade Barrington Research Outperform to Market Perform
2015-10-23 Upgrade Goldman Sachs Sell to Neutral $41.00 to $37.00
2015-10-23 Downgrade Raymond James Outperform to Market Perform
2015-10-23 Downgrade Wells Fargo Outperform to Market Perform
2015-10-23 Downgrade Raymond James Financial Inc. Outperform to Market Perform
2015-10-23 Downgrade Wells Fargo & Co. Outperform to Market Perform
2015-10-22 Downgrade Stephens Overweight to Equal Weight
2015-10-22 Downgrade Stifel Nicolaus Buy to Hold
2015-10-22 Downgrade Credit Suisse Outperform to Neutral $54.00 to $38.00
2015-10-18 Reiterated Rating Sterne Agee CRT Buy $58.00
2015-10-14 Downgrade DA Davidson Buy to Neutral $54.00 to $47.00
2015-09-03 Reiterated Rating DA Davidson Buy
2015-08-10 Reiterated Rating Credit Suisse Outperform $62.00 to $54.00
2015-08-04 Reiterated Rating KeyBanc Hold
2015-08-04 Reiterated Rating KeyCorp Hold
2015-07-24 Lower Price Target MKM Partners Buy $59.00 to $57.00
2015-07-24 Lower Price Target Stifel Nicolaus Buy $65.00 to $61.00
2015-07-24 Lower Price Target Northland Securities Outperform $75.00 to $55.00
2015-07-23 Reiterated Rating Sterne Agee CRT Buy $60.00
2015-07-08 Initiated Coverage MKM Partners Buy $59.00
2015-06-22 Initiated Coverage Barrington Research Outperform $61.00
2015-06-08 Upgrade CRT Capital Fair Value to Buy $60.00
2015-06-08 Upgrade Sterne Agee CRT Fair Value to Buy $60.00
2015-06-06 Reiterated Rating Imperial Capital Outperform $62.00
2015-05-10 Reiterated Rating DA Davidson Buy $68.00
2015-04-10 Downgrade Goldman Sachs Neutral to Sell $50.00 to $49.00
2015-03-23 Boost Price Target SunTrust Buy $65.00 to $67.00
2015-02-13 Upgrade DA Davidson Neutral to Buy
2015-02-10 Reiterated Rating Noble Financial Outperform
2015-02-10 Set Price Target DA Davidson Hold $54.00
2015-01-16 Initiated Coverage Raymond James Outperform
2014-11-13 Initiated Imperial Capital Outperform $62
2014-11-12 Initiated Coverage Imperial Capital Outperform $62.00
2014-10-24 Downgrade CRT Capital Buy to Fair Value $80.00 to $56.00
2014-10-24 Lower Price Target Stifel Nicolaus Buy $86.00 to $65.00
2014-10-23 Downgrade DA Davidson Buy to Neutral
2014-07-25 Upgrade DA Davidson Neutral to Buy $72.00
2014-07-25 Downgrade Monness Crespi & Hardt Buy to Neutral
2014-07-25 Upgrade Dawson James Neutral to Buy $72.00
2014-06-16 Upgrade Feltl & Co. Hold to Buy $65.00 to $73.00
2014-06-12 Initiated Coverage Goldman Sachs Neutral $62.24
2014-05-14 Initiated Coverage CRT Capital Buy $80.00
2014-04-28 Reiterated DA Davidson Neutral $71 to $72
2014-04-25 Reiterated Rating DA Davidson Neutral $71.00 to $72.00
2014-04-08 Initiated Coverage DA Davidson Neutral $71.00
2014-03-13 Upgrade William Blair Market Perform to Outperform
2013-12-02 Upgrade Stifel Nicolaus Hold to Buy $86.00
2013-10-30 Upgrade Sidoti Neutral to Buy
2013-10-02 Initiated Coverage William Blair Market Perform
2013-08-26 Reiterated Northland Capital Outperform $80 to $85
2013-04-25 Reiterated Northland Capital Outperform $72 to $80
2013-04-25 Reiterated Feltl & Co. Hold $67 to $61
2013-03-15 Reiterated Monness Crespi & Hardt Buy $59 to $70
2013-03-15 Reiterated Imperial Capital Outperform $60 to $72
2013-03-15 Reiterated Feltl & Co. Hold $50 to $61
2013-03-14 Reiterated Northland Capital Outperform $61 to $72
2013-02-14 Reiterated Northland Capital Outperform $60 to $61
2013-02-04 Downgrade Feltl & Co. Buy to Hold
2013-01-22 Reiterated Northland Securities Outperform $57 to $60
2012-12-20 Upgrade Feltl & Co. Hold to Buy
2012-12-20 Reiterated Monness Crespi & Hardt Buy $60 to $55
2012-10-25 Downgrade Feltl & Co. Buy to Hold $50
2016-06-29 Reiterated Rating MKM Partners Buy $56.00
2016-05-16 Reiterated Rating Sterne Agee CRT Neutral
2016-05-07 Upgrade Forward View Speculative Buy to Buy
2016-04-28 Reiterated Rating Sterne Agee CRT Hold
2016-04-07 Boost Price Target Goldman Sachs Neutral $42.00 to $50.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
CABELA MARY A 9.06%  (6435564) CAB /
MARK REUBEN 1.80%  (1277413) CAB /
LINNEMAN BRIAN J Executive Vice President 0.32%  (224905) CAB /
Gottschalk John 0.09%  (63464) CAB /
COPELAND MICHAEL Executive Vice President 0.04%  (29282) CAB /
Friebe Joseph M Executive Vice President 0.02%  (11131) CAB /
CABELA RICHARD N Chairman 0.01%  (10000) CAB /

Comments