Latest Cabelas news
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Latest Cabelas news
Here's the latest on the Cabela's situation, from our publisher and editor of The Outdoor Wire, Jim Shepherd.
With SHOT Show barely ended, there are plenty of interesting reports filtering out regarding the industry. More, in fact, than those we were hearing when we arrived in Las Vegas, Nevada for the nearly-impossible task of covering a trade show that has grown more than a quarter-million square feet over the past five years.
Not all the reports we're hearing are about new products or services, despite the fact we have been fixated on the latest and greatest offerings from the more than 1,200 exhibitors. In fact, most of the questions being asked concern rumors that had begun circulating prior to SHOT.
When a rumors of an acquisition of Cabela's by Bass Pro Shops died shortly before Christmas, speculation began to spread (on Wall Street) that Cabela's (NYSE: CAB) was one of those companies that was ripe for change.
That change, according to Wall Street sources, wasn't necessarily something the company was seeking.
On November 23, Bloomberg Business reported that speculative investors were in favor of seeking a suitor, but would not accept an acquisition price than something "in excess of $60/per share." Other reports had a target price of nearly $72/share. Those prices, according to sources on Wall Street, were the primary reason BPS quietly disappeared from the picture.
At that time, Bloomberg reported that Hirzel Capital Management, owners of 2 percent of the company, were the activist investor. Bloomberg reported Hirzel was pushing the retailer to consider "strategic alternatives, including selling its credit-card unit and property." Hirzel's suggestion was reportedly rejected by Cabela's CEO Tommy Millner who advocated for spending more than $500 million in a share buyback to boost value.
At that point, Cabela's rumors quieted.
In today's news section, you'll see that Cabela's is again back in the investment news.
With the fourth quarter and full-year 2015 earnings release set for just before the market opens on February 18, the New York Post is now reporting that the company plans to divest itself of its credit card unit. Nothing from Cabela's on those reports as of the close of business last night. Meanwhile, the company's activist investors continue to push for the company to sell- either the credit card division or the entire company.
Cabela's shares gained eleven cents yesterday, closing at $41.49.
As the rumors continue across the New York and Chicago investment communities, both officials and residents of Sidney, Nebraska remain on edge. Of the approximately 7,000 residents of Sidney, nearly 2,000 work for Cabela's.
We'll keep you posted.
With SHOT Show barely ended, there are plenty of interesting reports filtering out regarding the industry. More, in fact, than those we were hearing when we arrived in Las Vegas, Nevada for the nearly-impossible task of covering a trade show that has grown more than a quarter-million square feet over the past five years.
Not all the reports we're hearing are about new products or services, despite the fact we have been fixated on the latest and greatest offerings from the more than 1,200 exhibitors. In fact, most of the questions being asked concern rumors that had begun circulating prior to SHOT.
When a rumors of an acquisition of Cabela's by Bass Pro Shops died shortly before Christmas, speculation began to spread (on Wall Street) that Cabela's (NYSE: CAB) was one of those companies that was ripe for change.
That change, according to Wall Street sources, wasn't necessarily something the company was seeking.
On November 23, Bloomberg Business reported that speculative investors were in favor of seeking a suitor, but would not accept an acquisition price than something "in excess of $60/per share." Other reports had a target price of nearly $72/share. Those prices, according to sources on Wall Street, were the primary reason BPS quietly disappeared from the picture.
At that time, Bloomberg reported that Hirzel Capital Management, owners of 2 percent of the company, were the activist investor. Bloomberg reported Hirzel was pushing the retailer to consider "strategic alternatives, including selling its credit-card unit and property." Hirzel's suggestion was reportedly rejected by Cabela's CEO Tommy Millner who advocated for spending more than $500 million in a share buyback to boost value.
At that point, Cabela's rumors quieted.
In today's news section, you'll see that Cabela's is again back in the investment news.
With the fourth quarter and full-year 2015 earnings release set for just before the market opens on February 18, the New York Post is now reporting that the company plans to divest itself of its credit card unit. Nothing from Cabela's on those reports as of the close of business last night. Meanwhile, the company's activist investors continue to push for the company to sell- either the credit card division or the entire company.
Cabela's shares gained eleven cents yesterday, closing at $41.49.
As the rumors continue across the New York and Chicago investment communities, both officials and residents of Sidney, Nebraska remain on edge. Of the approximately 7,000 residents of Sidney, nearly 2,000 work for Cabela's.
We'll keep you posted.
"Sun rise and sun sets. Since the beginning, it hasn't changed yet." Little Feat
Re: Latest Cabelas news
They need to buy out the 2% noise makers and move on.
Its a wonderful day in the neighborhood!
Re: Latest Cabelas news
For whatever reason, I like Cabela's far more than BPS, which I don't hate, but don't favor, either.silverking wrote:Here's the latest on the Cabela's situation, from our publisher and editor of The Outdoor Wire, Jim Shepherd.
With SHOT Show barely ended, there are plenty of interesting reports filtering out regarding the industry. More, in fact, than those we were hearing when we arrived in Las Vegas, Nevada for the nearly-impossible task of covering a trade show that has grown more than a quarter-million square feet over the past five years.
Not all the reports we're hearing are about new products or services, despite the fact we have been fixated on the latest and greatest offerings from the more than 1,200 exhibitors. In fact, most of the questions being asked concern rumors that had begun circulating prior to SHOT.
When a rumors of an acquisition of Cabela's by Bass Pro Shops died shortly before Christmas, speculation began to spread (on Wall Street) that Cabela's (NYSE: CAB) was one of those companies that was ripe for change.
That change, according to Wall Street sources, wasn't necessarily something the company was seeking.
On November 23, Bloomberg Business reported that speculative investors were in favor of seeking a suitor, but would not accept an acquisition price than something "in excess of $60/per share." Other reports had a target price of nearly $72/share. Those prices, according to sources on Wall Street, were the primary reason BPS quietly disappeared from the picture.
At that time, Bloomberg reported that Hirzel Capital Management, owners of 2 percent of the company, were the activist investor. Bloomberg reported Hirzel was pushing the retailer to consider "strategic alternatives, including selling its credit-card unit and property." Hirzel's suggestion was reportedly rejected by Cabela's CEO Tommy Millner who advocated for spending more than $500 million in a share buyback to boost value.
At that point, Cabela's rumors quieted.
In today's news section, you'll see that Cabela's is again back in the investment news.
With the fourth quarter and full-year 2015 earnings release set for just before the market opens on February 18, the New York Post is now reporting that the company plans to divest itself of its credit card unit. Nothing from Cabela's on those reports as of the close of business last night. Meanwhile, the company's activist investors continue to push for the company to sell- either the credit card division or the entire company.
Cabela's shares gained eleven cents yesterday, closing at $41.49.
As the rumors continue across the New York and Chicago investment communities, both officials and residents of Sidney, Nebraska remain on edge. Of the approximately 7,000 residents of Sidney, nearly 2,000 work for Cabela's.
We'll keep you posted.
EJ
- countrycorners
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Re: Latest Cabelas news
For whatever reason, I like Cabela's far more than BPS, which I don't hate, but don't favor, either.
EJ[/quote]
ME TOO!
EJ[/quote]
ME TOO!
Re: Latest Cabelas news
I tend to favor BP for fishing and boating items, however, their branded redhead gear has seemed to have gotten cheaper and cheaper over the years. I favor Cabelas for hunting and camping and for the most part, their branded gear has stayed consistently good. I like it when they compete!
Its a wonderful day in the neighborhood!
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Re: Latest Cabelas news
On a related note: Sports Authority is filing for bankruptcy. My source is pretty reliable. Look for some good discounts in the coming future.
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Re: Latest Cabelas news
USA Today reporting Sports Authority filed for Chapter 11 Bankruptcy yesterday and liquidation sales are supposed to start Friday at the Tallahassee store near Governors Square Mall.
"Sun rise and sun sets. Since the beginning, it hasn't changed yet." Little Feat
Re: Latest Cabelas news
I haven't been in a Sport's Authority in a few years. Is it still stocked with stuff for mountain stream fishing?
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Re: Latest Cabelas news
Why do you think they've gone bankrupt?Rhettley wrote:I haven't been in a Sport's Authority in a few years. Is it still stocked with stuff for mountain stream fishing?

"Sun rise and sun sets. Since the beginning, it hasn't changed yet." Little Feat
Re: Latest Cabelas news
They sure failed in market research if they still had the stuff that was in the last one I was in.silverking wrote:Why do you think they've gone bankrupt?Rhettley wrote:I haven't been in a Sport's Authority in a few years. Is it still stocked with stuff for mountain stream fishing?
I'm wondering if it's worth a drive to Tallahassee (about 50 miles one way) to see what they have on sale.
- bull68dawg
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Re: Latest Cabelas news
Went by there today. All rods, reels, combos are 10% off. All terminal tackle and lures are 20% off. Small fishing selections and even with the discount Kevin's has better prices and selection. Imo
"How do you like them apples"
UGA Grad 04 GO DAWGS!
UGA Grad 04 GO DAWGS!
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Re: Latest Cabelas news
According to a report from the New York Post, retail giant Cabela's has opened their books to Bass Pro Shops in the hopes of being acquired. In a story posted today at NYPost.com, staff writer Josh Kosman says that Cabela's has been actively working with Bass Pro Shops towards a deal. The report also cites unnamed sources that claim Bass Pro Shops founder Johnny Morris has long sought to purchase his largest rival.
Cabela's drew attention in February when news broke that company chairman Jim Cabela had moved 11.2 million shares into charitable trusts in 2015. Morris has a reputation for streamlining business operations—a trait that would likely improve margins at the 77-store Cabela's chain, which experts say is less efficient than the larger Bass Pro Shops. One of the first signs of streamlining strategy? Going through the books. If the deal goes down as speculated, Bass Pro Shops would shake up the fishing industry once again, as it did after acquiring the Ranger, Triton and Stratos boat brands in 2014. When that transaction took place, the industry questioned what Morris would do with each competing brand. Thus far, they have shared some technology but remained in operation as separate brands. Industry experts believe Morris would likely pursue a similar strategy with Cabela's.
Cabela's drew attention in February when news broke that company chairman Jim Cabela had moved 11.2 million shares into charitable trusts in 2015. Morris has a reputation for streamlining business operations—a trait that would likely improve margins at the 77-store Cabela's chain, which experts say is less efficient than the larger Bass Pro Shops. One of the first signs of streamlining strategy? Going through the books. If the deal goes down as speculated, Bass Pro Shops would shake up the fishing industry once again, as it did after acquiring the Ranger, Triton and Stratos boat brands in 2014. When that transaction took place, the industry questioned what Morris would do with each competing brand. Thus far, they have shared some technology but remained in operation as separate brands. Industry experts believe Morris would likely pursue a similar strategy with Cabela's.
"Sun rise and sun sets. Since the beginning, it hasn't changed yet." Little Feat
Re: Latest Cabelas news
That sucks. The merging will probably lead to a lot less choice for the consumer. I really like Cabela's private label clothing. It's always been high quality. I'm afraid Redhead will ruin it.
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Re: Latest Cabelas news
Last time I was in the one in Tally, I was looking for a new pair of the original Crocs. The guy helping me tried to convince me that Crocs had gone out of business, and tried to sell me some cheap water-shoes instead. I went into Dicks and bought a pair just like I wanted. The outdoors section in Walmart has a better selection than Sports Authority.Rhettley wrote:I haven't been in a Sport's Authority in a few years. Is it still stocked with stuff for mountain stream fishing?
The gods do not deduct from man's allotted span the hours spent in fishing. ~Babylonian Proverb