Bass Pro pursuing acquisition of Cabelas
- Thread starter buckbull
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JimP
Administrator
hoshour
Veteran member
I don't buy much from either one any more - I buy 90% of my stuff online, maybe more. But, it is nice to go down to the store and look at things in person. We'll see how long it takes for Cabelas to look a lot more like Bass Pro.
ElkTrout
Veteran member
Sad for sure! Don't care much for Bass Pro. But I guess we will see how things go. Only time will tell.
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Sent from my iPhone using Tapatalk
Musket Man
Veteran member
It all got to big and lost what made it great along the way. Cabelas now is nothing like it was when they had 2 stores in Nebraska.
JimP
Administrator
I agree with Musket Man. When they only had a couple of stores and the rest was mail order they were on the top of the heap along with Gander Mountain, at least for hunting type items. Then Gander declared or was about to declare bankruptcy and so Cabela's bought them out in 96 and it has been downhill ever since then. At the time I actually bought more stuff from Gander than I did Cabela's and only a few things from Bass Pro.
I heard on the news tonight that Cabela's has been loosing money the last few years and that they needed to do something.
I heard on the news tonight that Cabela's has been loosing money the last few years and that they needed to do something.
Musket Man
Veteran member
This is on the Cabelas website.
"Legendary Outdoor Brands Bass Pro Shops and Cabela's to Combine. Merger Will Enhance Ability to Serve Outdoor Enthusiasts with Complementary Product Offerings and Geographic Footprints Cabela’s Shareholders Will Receive $65.50 Per Share in Cash Bass Pro Shops Entering into Multi-Year Credit Card Partnership with Capital One Bass Pro Shops and Cabela’s Club Customer Loyalty Programs Remain Unchanged SPRINGFIELD, Mo. & SIDNEY, Neb.--(BUSINESS WIRE)--Oct. 3, 2016-- Bass Pro S..."
"Legendary Outdoor Brands Bass Pro Shops and Cabela's to Combine. Merger Will Enhance Ability to Serve Outdoor Enthusiasts with Complementary Product Offerings and Geographic Footprints Cabela’s Shareholders Will Receive $65.50 Per Share in Cash Bass Pro Shops Entering into Multi-Year Credit Card Partnership with Capital One Bass Pro Shops and Cabela’s Club Customer Loyalty Programs Remain Unchanged SPRINGFIELD, Mo. & SIDNEY, Neb.--(BUSINESS WIRE)--Oct. 3, 2016-- Bass Pro S..."
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Best friend works for Cabela's in Sidney...and his wife does as well. This "merger" is horrible news for his family.
The rumors of Bass Pro purchasing Cabela's (and vice versa) have been circulating for many, many years. And now it has finally happened. It is indeed a sad day...
My friend started working for Cabela's on the phones in the early 80's...and has worked his way up in the company. He and his wife are in the top 40 of the company. I've actually met Dick Cabela, and many other top people. In my opinion, when Cabela's was family owned (Dick and Jim Cabela) it was a much better company for the consumer. When they went public it changed everything.
Understand that Sidney, Nebraska has a population of 7,000, and about 50% either work directly for, or in association with Cabela's. If their HQ moves, that town dies.
Crossing my fingers that all goes well for my Buddy.
The rumors of Bass Pro purchasing Cabela's (and vice versa) have been circulating for many, many years. And now it has finally happened. It is indeed a sad day...
My friend started working for Cabela's on the phones in the early 80's...and has worked his way up in the company. He and his wife are in the top 40 of the company. I've actually met Dick Cabela, and many other top people. In my opinion, when Cabela's was family owned (Dick and Jim Cabela) it was a much better company for the consumer. When they went public it changed everything.
Understand that Sidney, Nebraska has a population of 7,000, and about 50% either work directly for, or in association with Cabela's. If their HQ moves, that town dies.
Crossing my fingers that all goes well for my Buddy.
Fink
Veteran member
Just guessing here, but I think your buddy will be just fine. I'd wager that almost nothing will change, except for who gives orders from the very top, and maybe the name of whoever issues his paycheck. BPS isn't gonna go tear down all the Cabelas stores, and fire all the Cabelas employees. The BPS team is very clearly interested in growth (look how many new stores they've built), somebody has to man those stores, and manage the folks manning them.
I'd not be surprised if they privatize the company, for more control. Seems to me, that becoming a publicly traded company didn't work out too well for them Cabelas.
I sincerely hope you are right. In the short term, yes, nothing will change. Longer term...we shall see.
Things change...I remember my buddy telling me how the internet and on-line sales were going to kill retail sales...and everyone laughed at him.
Cabela's used to be THE place to work if you were an outdoorsman. They recruited Product Specialists from across the nation to come work in the Sidney store, and later the store in Kearney. Walk in to Cabela's and talk to a PS, and you got expert advice and opinion, and great products. I still have Cabela's branded coats, hats, gloves, boots...they were great designs and well built.
In my opinion two decisions changed Cabela's forever: building all the retail destination stores, and going public.
I remember Cabela's friends moving from Sidney, NE to Owatonna, MN to open that store. They still had great customer service back then...but as they opened more stores, it diluted the Product Specialists, and changed their customer service. And going public was a huge change.
I hope Cabela's can capture the magic again.
And it doesn't help that guys like me (49 years old), already have great hunting gear and clothing, so we don't buy much any more.
Less public land, fewer hunters, younger generation have more things to do (Xbox, phones, social media, etc.). It's no wonder Cabela's struggles...
Less public land, fewer hunters, younger generation have more things to do (Xbox, phones, social media, etc.). It's no wonder Cabela's struggles...
- Jun 20, 2011
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The fact is Cabela's is a failing company and you can bet BP will have to shake things up in order to make it profitable. This typically means closing the least profitable stores and laying off competing jobs at Cabela's HQ. Keeping things the same isn't an option.
Both these companies invested tons of resources into brick and mortar stores when at the same time online sales continue to take a larger percent of sales. They did exactly what the market said they shouldn't do.
Both these companies invested tons of resources into brick and mortar stores when at the same time online sales continue to take a larger percent of sales. They did exactly what the market said they shouldn't do.
Slugz
Veteran member
Murdy
Active Member
Wyoming Hart
Very Active Member
Going public has ruined a lot of places, especially my current place of employment. Things are always better when family run.
Fink
Veteran member
I don't know if they were failing, per se, as they've had growth over the last few years, and turned profits. I think this has more to do with certain hedge funds owning large stakes in the company, and essentially forcing the sale so they can realize earnings on their investments.
Places like Bass Pro and Cabelas are still destinations for quite a few folks, but, perhaps there's only room for one player in the destination sporting goods store.
Colorado Cowboy
Super Moderator
Going public got the Cabelas' a ton of money, great for them, maybe not so great for the shareholders. I don't know, as I don't own any of their stock. I go to Cabelas when I'm in Grand Junction, usually to look at their used guns, which have become less in recent years. I do use my Cabelas credit card, which builds points for me. I like the system, got my TC Pro Hunter that way. I have a Sportsman's Warehouse 80 miles away, which I like.
I am sure after this all shakes out, their will be some store closing, especially where BP is real close to a Cabelas store. But both will survive ....for now.
I am sure after this all shakes out, their will be some store closing, especially where BP is real close to a Cabelas store. But both will survive ....for now.
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- Jun 20, 2011
- 2,166
- 1,353
Failing may be too strong a word. From the article I read in Fortune, cabelas has only shown growth in 1 quarter over the past 3-4 years. Not sure about profitability.
Horsenhike
Very Active Member
That explains the mystery of my pack. Guy swears he bought it at Cabela's in the mid-90's, but it has Gander Mountain zipper pulls. Very nice.