Is Cabela’s for sale? Yes, it has put itself on the chopping block (77 stores worth of retail of hunting rifles and outdoor recreational paraphernalia namely fishing) because sales have slowed down. So they decide to sell their credit card operation ($3.6 billion in sales) first even though it is highly profitable. The thing is they just built a giant-ass Cabela’s near me and now they are going to close it or will it become Bass Pros Shops. We already have one of those. Compared to other retailers the stock is down but we know that comparing yourself to anything is never a good idea. Investor Elliot Management bought an 11-percent of the fishing and hunting chain and the stocks have fallen 25.5-percent. Does that mean people do not like billionaire hedgy Paul Singer?
Bass Pro Shops the little ole Springfield, Missouri based once a catalog store started in 1972, now a conglomerate community of its own is partnering with Goldman Sachs. I posted on Facebook why would this partnership was a good thing and no one replied back about it. Either people don’t know, don’t care, and are afraid to speak up about it since it is a sponsor to many pros anglers, or they do not like the idea. Merge, merger Bass Pro Shops is a favorite of mine; it is my favorite store besides Old Navy and Levi’s. I have issues with large retail telling me how and where to shop. The Old Navy I have been going to for decades and clothed my family in just closed without a warning (well they gave us one week’s notice literally) and they whitewashed the windows and locked the door. Bam they were gone. So did the local Kentucky Fried Chicken that always had a line out the door to it. So if I want those neighborhood favorites that have been here for generations I must go to another neighborhood, sometimes many neighborhoods over now to visit the stores I like. You can’t buy KFC online; Old Navy has come to that as the other stores do not compare, oops that word again, to my big favorite neighborhood store.
I have worked in retail/salon/spas and I am well aware of the word ‘merging’ as the salon/spas I have worked in were closed and moved to various locations and they changed their names and our paperwork multiple times. In fact I worked in high-priced busy neighborhood salon spas and our famous last words were always, “Oh they won’t close us. They can’t close us we are always busy.” We closed, we moved, we lost some of our clientele and old standing appointments, and we gained some new clientele.
Cabela’s has its own ‘feel’ to the store. You just have to go there. It too started out as a catalog store owned and ran by Dick Cabela in 1961. He ran it out of his home in Chappell, Nebraska. Is bigger always better? I don’t know go ask Walmart. But local is special it has its own genuine feel to it. There is a community vibe to it you won’t get in other places. The community and the people in it all know what life is like from this here neighborhoods point of view, everything is referenced that way.
Is buying Cabela’s supposed to fix Cabela’s or Bass Pro Shops? Too many stores too fast can take somebody under as there is only so much backstroking you can do with 77 stores on your stomach.
Rumor has it on some hunting and fishing forums that it was heard on the radio some Cabela’s stores have already been purchased and the takeover was to start this year, Montana.
Cabela’s Management opportunities conference all transcript dated September 19, 2013, analyst Lee Giordano of Imperial Capital is talking, “Over the last four years, Cabela’s stock has increased to the unbelievable 365-percent compared to the S&P retail index, which has increased 141-percent; the S&P MidCap, which is up 97-percent; and the overall S&P 500, which has increased 72-percent. We really accelerated our retail footprint rollout into the future as we’ve designed, more productive stores, and we’re pretty confident to get returns on capital for our shareholders that are attracted, and we have an unbelievable good loyalty program.”
“The fundamentals are in 2003 a store opened in Hamburg, Pennsylvania that was 250,000 square feet just over $400 a foot. It was an unbelievable success, a huge store about two hours from New York City. It was either the biggest mistake or the greatest decision we ever made, because it was so unbelievably profitable. We naively thought hey this is easy. Just build a bunch of big stores and people will show up. A lot of these stores are not being run by the expertise they need to run them really well to be profitable.”
Some stores might close they can’t fight over customers, which will mean lost jobs. The name brands Ranger and Triton, Stratos, Procraft Lowe, Kenner here today gone tomorrow? If it wasn’t for Bass Pro Shops and Cabela’s right now where would the hunting, fishing, outdoor recreational folks be shopping at? Dick’s, Walmart, Amazon, and smaller mom and pop shops. Walmart is having some issues too. Fishing and hunting is a big industry and there are millions to be made and we need to have somewhere to spend it.
Amazon.com is taking giant steps to get your sales dollar they have started Prime where you can have your order delivered to your door within two hours, and one hour if you pay the extra $7.99. Depending on your location you can’t beat that kind of online-shopping experience. But you can’t beat shopping in person either. Like I said about shopping my family at Old Navy for a decade or two I knew how the sizes ran and the quality and prices. Going to a new store you have to start all over again. Everyone needs to try on things and you can’t do that online, and my problem with going to a new store.
Goldman Sachs and Bass Pro Shops seem like strange bedfellows. The retail apocalypse has stores shutting down all across the country, could it be Amazon taking over? As of February these stores are closing some stores, The Gap 175, K-mart 24, Walmart 269, J. C. Penny 47, Macy’s 36, Aeropostale 84, Finish Line 150 and Sears about 600 stores. In the news today, Goldman Sachs Employees Take a Huge Pay Cut.
Goldman Sachs acquired the Wildlife Conservation Society. Goldman Sachs invented the Carbon Credit Market. They are not good and they are open to corruption much like the fishing shares that they tried to impress on anglers and countries. They can be bought or sold what doesn’t get used and they can fall into the hands of corporations who are dumping toxic waste and be used as a way to siphon and hide illegal activity.
The scientific community is not divided over what causes global warming they are divided over it existing at all. Al Gore is the one who said that by 2014 the North Pole might be completely ‘ice free.’ What all of this leads to is fraud by the bucketful no barges full. They have raised billions of dollars for something that doesn’t exist. Goldman Sachs is at the heart of the plans and schemes to further their money ventures. There are so many articles explaining all of this there is not room here.
The Bass Pro Shops-Cabela’s merge is already happening in some areas. It’s anybody’s guess as to what will occur next. The partnership comes as a surprise. It’s a sad state of affairs for me. Bass Pro Shops still has other fans, and I still have a closet full of Bass Pro Shops hats, t-shirts and hoodies.