Cabela’s Incorporated (NYSE:CAB), the World’s Foremost Outfitter® of hunting, fishing and outdoor gear, announced today plans to bring the unique Cabela’s shopping experience to customers in Tualatin, Ore., and the greater Portland area.
Construction on the 100,000-square-foot store is expected to begin this fall and Cabela’s plans for a fall 2014 grand opening. It will be Cabela’s second store in Oregon, joining the 58,000-square-foot Springfield location.
“Oregon is full of people who live the Cabela’s lifestyle and enjoy outdoor recreation, which makes this a perfect match,” said Tommy Millner, Cabela’s Chief Executive Officer. “We’ve enjoyed great success at the Springfield location thanks to the support of our many loyal customers across the region, and we hope for much of the same in Tualatin.”
The interior of the new store will feature Cabela’s next-generation layout, designed to surround customers in an outdoor-like experience with trophy animal mounts and displays.
Additionally, it will include a Gun Library, Bargain Cave, Fudge Shop, indoor archery range, mountain replica featuring museum-quality wildlife displays and thousands of high-quality outdoor products, as well as an In-Store Pickup program allowing customers to order gear ahead of time and pick it up at a time of their choosing, free of charge.
"We are proud that the World's Foremost Outfitter, Cabela's, has chosen Tualatin to be its home in the greater Portland region,” said Tualatin Mayor Lou Ogden. “Cabela's creates an exciting attraction in our city both in terms of a premier outdoor sporting retail destination and as a perfect integration with our Tualatin River natural area. We look forward to the many coming opportunities to partner with Cabela's and enrich outdoor living experiences for our citizens and visitors."
The store will be located in a redeveloped area across Interstate 5 from the Nyberg Woods shopping center. The new area, being developed by CenterCal Properties, is planned to include approximately 300,000-square-feet of retail space.
“CenterCal Properties has long been committed to bringing the best retail shopping experiences in the country to the City of Tualatin with our projects at Bridgeport Village and Nyberg Woods,” said Fred Bruning, CenterCal Properties Chief Executive Officer. “Now, with our Nyberg Rivers project, we are helping to bring Cabela’s, one of the country’s finest retailers, to our community.”
Also today, Cabela’s announced plans to open a 50,000-square-foot store in Edmonton, Alberta, Canada, in spring 2014. It will be Cabela’s second Edmonton store, joining a 70,000-square-foot location opened in 2011. The company also operates stores in Winnipeg, Manitoba, and Saskatoon, Saskatchewan, and plans to open a Regina, Saskatchewan, store this fall.
Currently, Cabela’s operates 44 stores across the United States and Canada. The company has announced plans to open an additional 13 stores by the end of 2014.
About Cabela’s Incorporated
Cabela’s Incorporated, headquartered in Sidney, Nebraska, is a leading specialty retailer, and the world’s largest direct marketer, of hunting, fishing, camping 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®. Through Cabela’s growing number of retail stores and its well-established direct business, it 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 retail store in Tualatin, Ore., in fall 2014 and opening an additional 13 retail stores by the end of 2014. 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 state of the economy and the level of discretionary consumer spending, including changes in consumer preferences 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 outcome of litigation, administrative, and/or regulatory matters (including a Commissioner's charge the Company received from the Chair of the U. S. Equal Employment Opportunity Commission in January 2011); the Company's ability to manage credit, liquidity, interest rate, operational, legal, 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, including the Dodd-Frank Wall Street Reform and Consumer Protection Act; 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 December 29, 2012), 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.