Press Release - Barrie, ON
Cabela's® Announces Plans for Barrie, Ontario, Canada, Store
Anticipated opening summer 2014; store will be 70,000-square-feet
SIDNEY, Neb. (July 25, 2013) – Cabela's Incorporated, the World's Foremost Outfitter® of hunting, fishing and outdoor gear, announced today plans to bring the unique Cabela's retail experience to customers in Barrie, Ontario, Canada, and the surrounding region, which includes the greater Toronto area.
Construction on the 70,000-square-foot store is scheduled to begin this summer and Cabela's anticipates a summer 2014 opening. It is expected to employee approximately 200 full-time, part-time and seasonal employees. Most will come from Barrie and the surrounding area.
The store will be located near the intersection of Highway 400 and Mapleview Drive in the Park Place Shopping Centre, which is being developed by North American/CentreCorp.
"Thanks to the loyalty of our thousands of Canadian customers, and especially those across the province of Ontario, it was an easy decision to bring the Cabela's retail experience to Barrie," said Tommy Millner, Cabela's Chief Executive Officer. "I can't say enough about Canada. It's a Cabela's kind of place."
Also today, Cabela's announced plans to open stores in Missoula, Mont.; Acworth, Ga.; and Augusta, Ga.
Currently, Cabela's operates 45 stores across North America, including three in Canada - Winnipeg, Manitoba; Edmonton, Alberta; and Saskatoon, Saskatchewan. The company has announced plans to open an additional 19 locations over the next two years, including a Regina, Saskatchewan, location this fall and a second Edmonton location in 2014.
The Park Place shopping centre also includes Marshalls and Future Shop. Nearby businesses include Costco, The Home Depot, Walmart and Sobeys.
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 Cheektowaga, N.Y., in the fall of 2014 and opening 14 new retail stores over the next two years. 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.