cabelas going out of business

Discussion in 'Tackle Talk' started by Mr Burgundy, Nov 21, 2015.

  1. Bob D

    Bob D

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    I think Cabela's is the superior national store. One of their problems is that they put their brick and mortar locations in places that few people live and BPS has done the opposite. I have only been down to the Dundee store twice while I have been to the BPS in Auburn Hills numerous times. Right on the outskirts of the Toledo, BPS has another location right along I-75. They are convenient and Cabela's is inconvenient. If Cabela's puts a store at Hall and I-94, that would be an improvement.
     
  2. BFG

    BFG

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    New Cabelas going up in Avon, Ohio right now?
     

  3. redeyed

    redeyed

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    I live in Chesterfield, a couple of miles from that site, and they have been talking about a Cabela's outlet in that location for years.
     
  4. fish_AK

    fish_AK

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    Saw in the Voice news paper confirming their interest. I really hope the 59/94 location is real.
     
  5. frenchriver1

    frenchriver1 Mr. Flatfish Premium Member

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    An attraction at Gander is the Bargain Cave. As to which store you visit, it is strictly geography access as far as I am concerned. The services offered are very much the same between the store chains.
     
  6. vanj85

    vanj85

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    Fwiw, I heard from an employee at the Grandville location that one minority share holder is attempting a hostile take over. They own a small percent in cabelas and some in bps so they ate trying to lobby board votes to overtake bellas.
     
  7. Liver and Onions

    Liver and Onions

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    Hostile takeover ? Hmmm. Wish I had bought CAB in Sept.

    http://finance.yahoo.com/news/cabelas-may-hunting-buyer-192202820.html

    http://finance.yahoo.com/news/cabela-inc-explore-strategic-alternatives-113000181.html

    http://bizbeatblog.dallasnews.com/2...o-shops-will-buy-cabelas-getting-louder.html/

    L & O
     
    Last edited: Dec 13, 2015
  8. BlackRhino

    BlackRhino

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    If it's an "Outpost" version such as in Saginaw, don't get too excited. The only good thing about that store is the availability to "ship to store" to avoid shipping costs on heavy items.
     
  9. wicklundrh

    wicklundrh Premium Member

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    I did some major reading of this over the weekend (I was bored). There is one particular shareholder that is pushing for the sale of either the store, or the financial department (credit cards). This particular shareholder owns 6% of the shares and options on an additional 5%. The Cabelas family still owns the majority of shares at 24%.

    I looked back several months and it looks like all of this started with a news report out of Montana "confirming" that Cabelas was being sold to Bass Pro. Credibility with this particular news outlet doesn't look to good at this point in time. It was confirmed that BPS was looking at it but as of December the 6th, Forbes reports that the Cabelas corporation is simply "shopping" the idea of a sale to try and garner interest.

    If you know anything about corporate finance, you will know that companies do this all the time. For us, we pay close attention because, as sportsmen, we have ties to these companies. Basically, the day of the announcement, Cabelas shares were sitting around $32 and some change, the next day, they were sitting around $44 dollars. Whether the 6% shareholder was simply striking a cord to conjure up interest and inflate share prices or if he was actually interested in selling will remain to be seen.

    From a basic understanding of the stock market, here is the way I see it. If he owns 5% of the options to purchase. Options mean you do not actually own a share, you own the rights to purchase that share at the price to which you purchased the option. 1 option is equal to 100 shares. SOOO, if you purchased an option on day 1 and it was 32 dollars per share, and then an announcement was made and suddenly the price is $44 dollars per share, you stand to make $1200 dollars for every option (100 shares). If he owns 5% of the options, that is a pretty hefty number. Keep in mind, options are only good for a set period of time and will expire.

    Although Cabelas sales and worth are down from their 5 year average, they are still beating BPS, Dick's, and several of the other publicly traded companies by a pretty large margin. Wish we all knew about it before hand so we could have purchased a few shares. Unfortunately, that would be called "insider trading". Hope that muddies the water!
     
  10. Lumberman

    Lumberman Premium Member

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    And the truth is BPS and Cabelas aren't true competitors. They rarely open in the same area.

    Walmart and meijers are true competitors because you choose to go to one or the other in most towns.
     
  11. retiredsailor

    retiredsailor

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  12. pohlkat

    pohlkat

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    That's in Montana stores...BPS is taking over stores in Montana.
     
  13. frenchriver1

    frenchriver1 Mr. Flatfish Premium Member

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    In visiting the Outpost Store I was fully aware that by size it was not a full service store. Still, nice to have it in Saginaw. As to Bargain Caves, I personally was not in sync with the move to a larger consolidated location I believe in Penn, but I still visit Dundee for the smaller Cave..
     
  14. Hunting18

    Hunting18

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    When visiting Cabelas in Dundee this past weekend I see no way this company could be struggling! This place was swamped, every cash register had lines in the two hours I was there. They sold numerous guns, and probably 500 pairs of boots in the few hours I was there. They are making money, if they are not they need to cut some fat somewhere.....
     
  15. sureshot006

    sureshot006 Staff Member Mods

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    Cabelas isn't struggling. The rumor was that it was being bought by bass pro. Then I think an investor looked into buying it. Not going out of business.
     
    Hunting18 likes this.