Cabela's Explained

Cabela's Inc.
Key People:Thomas Millner (CEO)
Industry:Retail
Products:Hunting, fishing, outdoor merchandise
Num Employees:19,100 (2016)
Parent:Bass Pro Shops
(2017–present)
Subsid:White River Marine Group
Foundation: in Chappell, Nebraska, U.S.
Location City:Sidney, Nebraska, U.S.
Locations:82 (May 2016, U.S. and Canada)

Cabela's Inc. is an American retailer that specializes in hunting, fishing, boating, camping, and other outdoor recreation merchandise. The chain was founded by Richard N. Cabela and Jim Cabela in 1961. Cabela's was acquired by Springfield, Missouri-based Bass Pro Shops in 2017 and has been a subsidiary since then. The brand’s retail locations feature wildlife exhibits and outdoor designs, and are viewed as tourist attractions.

History

The company that would become a sporting goods reseller and chain was started in December of 1961 in Chappell, Nebraska.[1] [2] [3] 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.[4] When his first effort produced only one response, he placed an ad in a national magazine, Sports Afield, which was more successful.[5] Cabela and his wife, Mary, mailed the orders and kept a record of all names and addresses. In 1963, Cabela's brother Jim joined the company. The mimeographed catalog became a printed catalog, and the operation moved into the basement of a family store and then to a former American Legion Hall. In 1968, the company moved again into a former John Deere dealer facility in Sidney, Nebraska. Cabela's then sold fishing gear as well as equipment for hunting, backpacking, and other outdoor activities. In 1991, a 75,000-square-foot retail store was opened in Sidney. More stores were built, decorated with outdoor scenery, mounted animals, and aquariums. Some stores included shooting ranges and archery ranges. By 2014, there were 50 stores across the U.S. and Canada.

On February 17, 2014, founder Dick Cabela died at his home in Sidney, Nebraska, at the age of 77.[6] [7]

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.[8]

In 1996, Gander Mountain, prior to declaring bankruptcy, sold its mail order business to Cabela's with a non-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.[9]

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.

In March 2014, Cabela's sold their recreational real estate division, Cabela's Trophy Properties, to Sports Afield.[10] [11] The name changed to Sports Afield Trophy Properties.[12]

In January 2016, Cabela's sold their Outdoor Adventures & T.A.G.S. divisions to Worldwide Trophy Adventures.[13] [14] [15]

On October 3, 2016, Bass Pro Shops announced an agreement to acquire Cabela's for $5.5 billion.[16] In September 2017, Cabela's became part of Bass Pro Shops.[17]

Retail stores

The largest Cabela's retail facility is in Hamburg, Pennsylvania, with more than 250000square feet of floor space.[18]

In 2007, Cabela's purchased family-owned S.I.R. Warehouse Sports Store in Winnipeg.[19] 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 1400000square feet Lac-Mirabel project near Montreal, which was to include 220000square feet of retail space, and was planned to open in 2008.[20] But instead, Bass Pro Shops became one of the mall anchors.[21] In 2011 Cabela's opened a 70000square feet store in Edmonton, Alberta and a 50000square feet store opened in Saskatoon in 2012 another 70000square feet store in Calgary, Alberta opened in 2015.

In late 2011, Cabela's announced a new retail initiative called Cabela's Outpost Store[22] was located in Union Gap, Washington, while the second was opened in Saginaw County, Michigan.[23] [24] The Outposts have seasonally rotating merchandise, online order kiosks, and in-store pickup.[25]

Currently, there are 70 Cabela’s stores in the U.S. and 10 in Canada.[26]

Acquisition by Bass Pro Shops

On July 5, 2017, the Federal Trade Commission approved the acquisition of Cabela's by Bass Pro Shops. The acquisition was complete on September 25, 2017.[27] The two brands have a few things in common: they were founded around the same theme and both brand’s store locations were designed to deliver a “destination-like” shopping experience.[28] Cabela’s and Bass Pro Shops locations have also doubled as wildlife exhibits and draw in many tourists.[29] [30] [31] [32] A Cabela’s in Michigan saw 6 million visitors a year and was the state’s largest tourist destination.

Sponsorships

Cabela's Legendary Adventures sponsors Richard Childress Racing driver Daniel Hemric in the Monster Energy NASCAR Cup Series in partnership with Bass Pro Shops.[33] [34] Cabela's previously had a deck lid space on Martin Truex Jr.'s Bass Pro Shops car, now a logo on his race suit. They co-sponsors the No. 31 car driven by Ryan Newman.[35] [36]

In 2019, Cabela’s became a sponsor of Project Childsafe, a National Shooting Sports Foundation program that promotes safe firearms handling and responsible storage.[37] [38] Cabela’s has also been the official retailer of SHOT Show Industry Day at the Range.[39]

Other sponsorships include Safari Club International,[40] National Archery in the Schools Program,[41] Project Childsafe,[42] & the Catch a Dream Foundation.[43] [44]

Outreach

Cabela’s works with different organizations focused on military and Veteran support and conservation.[45]

Military and Veteran Support

Cabela’s has supported Helping a Hero, Folds of Honor,[46] [47] All Secure Foundation, and Hiring a Hero.[48] [49]

Proud Veteran Outfitter Vest Program

In 2023, Bass Pro Shops and Cabela’s started the Proud Veteran Outfitter Vest Program and provided Veteran Outfitters (those who work at Bass Pro Shops and Cabela’s) with vests they can wear to work that include their name, military branch and rank, and the U.S. flag.[50] The vests were presented during a ceremony that recognized each Veteran.

Legendary Salute Discount

The Legendary Salute Discount is Cabela’s and Bass Pro Shops’ discount program and offers a 10% discount on most things in the stores to active military, veterans, retirees, guard, reservists, law enforcement officers, firefighters and wildlife agents.[51] [52]

Conservation

Bass Pro Shops and Cabela’s Outdoor Fund

The Outdoor Fund is a 501(c)(3) nonprofit.[53] Customers at Bass Pro Shops and Cabela's can donate to it by choosing to round up their purchases to support different conservation partners and projects.

Partners and recipients of donations include:

Video games

See also: List of Cabela's video games.

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

Banking and finance

Founded in 2001, the World’s Foremost Bank is a subsidiary of Cabela’s.[66] It is based in Sidney, Nebraska.[67]

The subsidiary consisted 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.[68] At the end of 2012, the bank claimed to have $3,731,567,000 in assets.[69] 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.[70]

2011 FDIC settlement

In 2011, Cabela’s World’s Foremost Bank agreed to pay $10.1 million in restitution and a $250,000 fine as part of a settlement agreement with the Federal Deposit Insurance Corporation (FDIC).[71] The bank did not admit any wrongdoing in the agreement, but did agree to change certain practices.[72]

2011 Royal Bank of Canada loan

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.

2017 World’s Foremost Bank Sale & Capital One

As part of the merger with Bass Pro Shops, Cabela's sold the World's Foremost Bank aspect of their business, including over $1 billion in assets, to Synovus Financial Corp. and Capital One Financial Corp.[73] After the deal was completed, Synovus planned to sell the credit card assets and related liabilities to Capital One Bank (USA) NA.[74]

See also

External links

Notes and References

  1. Web site: Funk . Josh . Bass Pro completes $4 billion acquisition of Cabela's . 2023-11-21 . USA TODAY . en-US.
  2. Web site: 2014-02-20 . Dick Cabela dies at 77; co-founded Cabela's sporting goods empire . 2024-03-29 . Los Angeles Times . en-US.
  3. News: Helliker . Sara Germano and Kevin . Bass Pro Shops to Acquire Cabela’s . 2024-03-29 . WSJ . en-US.
  4. Staff. Random Shots: In Memory: Richard "Dick" Cabela. American Rifleman. May 2014. 162. 5. 28.
  5. Web site: 2014-02-20 . Dick Cabela dies at 77; co-founded Cabela's sporting goods empire . 2023-12-01 . Los Angeles Times . en-US.
  6. Web site: Associated Press . 2014-02-17 . Richard Cabela, co-founder of outdoors outfitter, dies at 77 . 2023-09-07 . The Denver Post . en-US.
  7. News: Harris . Elizabeth A. . 2014-02-22 . Richard Cabela, Who Sold the Great Outdoors, Is Dead at 77 . en-US . The New York Times . 2023-09-07 . 0362-4331.
  8. Web site: Santoli . Michael . Outdoor Enthusiasts Flock to Cabela's, Investors Follow . September 1, 2013 . Yahoo Finance.
  9. Web site: Orrick. Dave. Gander Mountain sues Cabela's over web addresses. December 14, 2013. TwinCities.com, Pioneer Press. December 16, 2013.
  10. Web site: Sports Afield Buys Recreational Real Estate Firm License! Global. www.licensemag.com. en. August 1, 2017.
  11. Web site: Brand Licensing, Partnerships and Collaborations in Publishing News . 2024-03-29 . License Global . en.
  12. Web site: Brand Licensing, Partnerships and Collaborations in Publishing News . 2024-01-08 . License Global . en.
  13. Web site: Worldwide Trophy Adventures Acquires Cabela's Outdoor Adventures and T.A.G.S Businesses Outdoor Wire . 2024-01-08 . www.theoutdoorwire.com.
  14. Web site: Bilyj . Brooke . Mark Peterson chases his passion with Worldwide Trophy Adventures . Huntington.com.
  15. Web site: Sun-Telegraph . The Sidney . Worldwide Trophy Adventures acquires Cabela's Outdoor Adventures, T.A.G.S businesses . 2024-01-08 . The Sidney Sun-Telegraph . en.
  16. Web site: Cabela's stores to be sold to Bass Pro Shops for $5.5 billion. December 18, 2016. https://web.archive.org/web/20161221001955/http://www.inforum.com/news/business/4128065-cabelas-stores-be-sold-bass-pro-shops-55-billion/. December 21, 2016. dead.
  17. Web site: 2017-09-26 . Cabela's Now Officially Part of Bass Pro Shops After Merger . 2023-11-21 . KSMU Radio . en.
  18. Web site: Marsya . Haris . 2023-08-19 . Top 10 Biggest Cabela's . 2024-03-08 . Toplist . en-US.
  19. News: U.S. firm buys longtime Winnipeg outfitter . Canadian Broadcasting Corporation . Canadian Broadcasting Corporation . August 16, 2007 . . August 16, 2007.
  20. Cabela's Montreal store Press Release Cabelas.com
  21. Web site: Lac Mirabel press release. October 14, 2016. https://web.archive.org/web/20120904065839/http://www.lacmirabel.com/pdf/MontAnn.pdf. September 4, 2012. dead.
  22. Web site: Cabela's to open 'outpost' store near Yakima The Spokesman-Review . 2024-03-29 . www.spokesman.com.
  23. Web site: Cabela's to open 'outpost' store near Yakima The Spokesman-Review . 2024-02-28 . www.spokesman.com.
  24. Web site: klynchmo@mlive.com . Kathryn Lynch-Morin . 2012-07-26 . Cabela's store to open in Saginaw County . 2024-03-29 . mlive . en.
  25. Web site: klynchmo@mlive.com . Kathryn Lynch-Morin . 2012-07-26 . Cabela's store to open in Saginaw County . 2024-03-26 . mlive . en.
  26. Web site: Bass Pro Shops / Cabela’s . 2024-01-09 . sportsinsightmag.com.
  27. News: Bass Pro Just Completed a $4 Billion Deal to Buy Cabela's . Hallie Detrick . . September 26, 2017 . December 20, 2018.
  28. Web site: Bass Pro Shops completes $5B Cabela's acquisition . 2024-02-13 . Retail Dive . en-US.
  29. News: Helliker . Sara Germano and Kevin . Bass Pro Shops to Acquire Cabela’s . 2024-02-13 . WSJ . en-US.
  30. Web site: mschneck@pennlive.com . Marcus Schneck . 2009-11-22 . Central Pennsylvania's super-aquariums: A new Nature's Navigator . 2024-03-29 . pennlive . en.
  31. Web site: Upholt . Boyce . 2022-08-10 . How the Bass Pro Shops Pyramid Became a Memphis Icon . 2024-02-13 . Outside Online . en-US.
  32. Web site: Ness . Jake Van . 2023-03-13 . Bass Pro Shops Plans To Open Its Newest Store In Clifton Park, Its 4th In New York State . 2024-03-29 . Saratoga Business Journal . en-US.
  33. Web site: Jayski's Silly Season Site .
  34. Web site: Richard Childress Racing Continues Longtime Partnership with Johnny Morris and Bass Pro Shops in 2018 to Celebrate Cabela's - Bill Dance Outdoors . 2024-03-29 . www.billdanceoutdoors.com . en.
  35. Web site: 2017-12-14 . Bass Pro, Cabela’s branding to appear together in NASCAR . 2024-03-29 . Springfield Business Journal . en.
  36. Web site: Truex Jr. and Newman to Pilot Bass Pro/Cabela’s Racecars with Patriotic Salutes at Daytona Outdoor Wire . 2024-03-08 . www.theoutdoorwire.com.
  37. Web site: estaff . 2013-11-12 . Cabela's Partners With NSSF and Project ChildSafe to Promote Firearms Safety . 2024-03-29 . Gun Tests . en-US.
  38. Web site: 2019-03-26 . Bass Pro Shops and Cabela’s Becomes Premier Sponsors of NSSF’s Project ChildSafe . 2024-03-26 . POMA . en-US.
  39. Web site: Cabela’s Renews Contract as Official Retailer of SHOT Show Industry Day at the Range . 2024-03-26 . OutdoorHub . en-US.
  40. Web site: Advocacy . S. C. I. . 2021-07-28 . Bass Pro Shops and Cabela's Continues its Sponsorship of Safari Club International . 2024-03-26 . Safari Club . en-US.
  41. Web site: Wisconsin . Waldo . July 22, 2020 . Bass Pro Shops and Cabela’s become Corporate Sponsor of the 2021 NASP® Educator and Coaches Conference .
  42. Web site: Cassidy . Daphane . 2019-03-26 . Bass Pro Shops and Cabela's Becomes Premier Sponsors of NSSF's Project ChildSafe . 2024-03-29 . NSSF . en-US.
  43. Web site: Presenting Sponsor: Bass Pro Shops/Cabelas – Catch-A-Dream Bass Classic . 2024-03-26 . en-US.
  44. Web site: Cabela’s Outdoor Fund Supports Fishing Education Fund with $75,000 Grant . 2024-03-29 . RBFF Press Room . en.
  45. Web site: Christian . Bruce . 2021-11-10 . Bass Pro Shops, Cabela’s Honor US Veterans . 2024-03-05 . Inside Outdoor Magazine . en-US.
  46. Web site: Christian . Bruce . 2021-11-10 . Bass Pro Shops, Cabela’s Honor US Veterans . 2024-03-29 . Inside Outdoor Magazine . en-US.
  47. Web site: Cabela's in Augusta decorates for Memorial Day, honors employees who served . 2024-03-21 . The Augusta Chronicle . en-US.
  48. Web site: June 1, 2023 . Cabela's salutes four local Veterans this Memorial Day .
  49. Web site: Staff . Daily News . 2023-05-25 . Cabela’s doubles Legendary Salute discount ahead of Memorial Day . 2024-03-29 . Greater Milwaukee Today . en.
  50. Web site: Sidney Sun-Telegraph .
  51. Web site: Ousley . Jeff . 2023-06-07 . Cabela’s and Bass Pro Shops Military Discount . 2024-03-28 . Veteran.com.
  52. Web site: Staff . Daily News . 2023-05-25 . Cabela’s doubles Legendary Salute discount ahead of Memorial Day . 2024-03-28 . Greater Milwaukee Today . en.
  53. Web site: HLNews . 2021-04-26 . Johnny Morris Bass Pro Shops and Cabela’s Outdoor Fund Awards $300K Grant to The National Wild Turkey Federation . 2023-12-11 . HuntingLife.com . en-US.
  54. Web site: Banner . Bennington . 2014-12-16 . Casting for Recovery names Cabela's Outdoor Fund as national sponsor . 2024-03-28 . Bennington Banner . en.
  55. Web site: Kent . By Roy . 2022-11-10 . Bass Pro Shops and Cabela’s Outdoor Fund joins the Coastal Prairie Conservancy to preserve the Texas coastal prairie . 2024-02-01 . Houston Chronicle . en.
  56. Web site: Cabela's boosts veterans fly tying program at university The Spokesman-Review . 2024-03-28 . www.spokesman.com.
  57. Web site: Cabela's boosts veterans fly tying program at university The Spokesman-Review . 2024-03-29 . www.spokesman.com.
  58. Web site: HLNews . 2022-11-02 . Hunger Relief Grant from Bass Pro Shops and Cabela's Outdoor Fund . 2024-03-26 . HuntingLife.com . en-US.
  59. Web site: Canada . Outdoor . 2022-10-18 . Cabela’s and Bass Pro Shops customers donate $100,000 to conservation fund • Outdoor Canada . 2024-03-28 . Outdoor Canada . en-CA.
  60. Web site: Cabela’s Outdoor Fund Supports Fishing Education Fund with $75,000 Grant . 2024-03-28 . RBFF Press Room . en.
  61. Web site: Dove . Patrick . 2,500 bald cypress trees will be planted along the Loxahtatchee River . 2023-12-11 . Treasure Coast . en-US.
  62. Web site: Staff . WBKO News . 2022-05-18 . Kentucky State Police receives $1,000 donation from Cabela’s . 2024-03-28 . www.wbko.com . en.
  63. Web site: Ladd . Jessica . 2020-11-21 . Bass Pro Shops and Cabela’s Outdoor Fund issues $100,000 grant to NASP . 2023-12-11 . www.kfvs12.com . en.
  64. Web site: 2021-04-23 . Bass Pro Shops, Cabela’s award $300K for national conservation efforts . 2024-03-29 . KY3. en.
  65. Web site: 2021-05-30 . Bass Pro and Cabelas Team With Outdoors Tomorrow Bass Angler Magazine . 2024-03-26 . en-US.
  66. Web site: Staff . Commercial Banks; Company Overview of World's Foremost Bank . dead . https://archive.today/20130901074938/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=24792225 . September 1, 2013 . December 16, 2013 . Bloomberg Business.
  67. Web site: 2018-08-17 . Cabela's Military Discount WeSalute . 2024-03-26 . www.wesalute.com . en.
  68. Web site: Henderson . Tom . March 9, 2011 . Who's world's foremost bank? Not World's Foremost Bank – Cabela's Visa rewards program goes awry . September 1, 2013 . Crain's Detroit Business.
  69. Web site: Staff . About Us . dead . https://web.archive.org/web/20131216053920/https://www.wfbcds.com/aboutus.jsp . December 16, 2013 . December 16, 2013 . wfbcds.com.
  70. Web site: Company Overview of World's Foremost Bank . dead . https://archive.today/20130901074938/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=24792225 . September 1, 2013 . September 1, 2013 . BusinessWeek.
  71. Web site: Oregonian/OregonLive . Laura Gunderson The . 2011-03-09 . Cabela's agrees to change its credit card practices . 2024-03-26 . oregonlive . en.
  72. Web site: Staff . CONSENT ORDER AND ORDER TO PAY FDIC-10-775b FDIC-10-777k In the Matter of WORLD'S FOREMOST BANK SIDNEY, NEBRASKA . December 16, 2013 . fdic.gov.
  73. News: Kent . By Roy . Bass Pro Shops and Cabela’s Outdoor Fund joins the Coastal Prairie Conservancy to preserve the Texas coastal prairie . 2024-03-26 . Houston Chronicle . en.
  74. Web site: Detrick . Hallie . Bass Pro Just Completed a $4 Billion Deal to Buy Cabela's . June 27, 2020 . Fortune.

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