Daily Bulletin » Retail

Cabela’s Shareholders Approve Buyout by Bass Pro Shops

Editor — Thu, 13 Jul 2017 13:28:46 +0000

It’s official, Cabela’s is being acquired by Bass Pro Shops. The Shooting Wire reports:

Cabela’s Shareholders Approve Bass Pro Shops Merger
“It only took about 35 people around 20 minutes yesterday to approve a $4.2 billion merger that’s been lingering for months. Backed by what Cabela’s CEO Tommy Milner calls ‘overwhelming support’, the shareholders of Cabela’s approved [the] proposed merger with Bass Pro Shops. Under the current terms, shareholders will receive $61.50/per share for the stock which has been trading in the $58.90-$59.94 range. After the merger, the companies will be based in Springfield, Missouri. No word on how many of the 1,000 workers in Cabela’s Sydney, Nebraska, headquarters will be retained.”

Bass Pro Shops will acquire popular outdoor retail chain Cabela’s (NYSE:CAB) in a $4.2 billion deal expected to close in Q3 of 2017. According to The Street: “Cabela’s agreed in April to be bought by Bass Pro Shops for $61.50 a share, down from the original purchase price of $65.50 a share, valuing the acquisition at $4.2 billion.” After the merger, Bass Pro will continue to recognize Cabela’s CLUB points, and the branded credit cards will be serviced by Capital One.

History of Two Major Outdoor Retailers

CABELA’S
Founded in 1961 by Dick, Mary and Jim Cabela, Cabela’s is a highly respected marketer of hunting, fishing, camping, shooting sports and related outdoor merchandise. Today, Cabela’s has over 19,000 “outfitters” operating 85 specialty retail stores, primarily in the western U.S. and Canada. Cabela’s stores, catalog business and e-commerce operations will blend seamlessly with Bass Pro Shops and White River Marine Group. Over the past 55 years Cabela’s has built a passionate and loyal base of millions of enthusiasts who shop both at its retail stores and online.

BASS PRO SHOPS
Bass Pro Shops, founded in 1972 by avid young angler Johnny Morris, is a leading national retailer of outdoor gear and apparel, with 99 stores and Tracker Marine Centers located primarily in the eastern part of the U.S. and Canada. Morris started the business with eight square feet of space in the back of his father’s liquor store in Springfield, Mo., the company’s sole location for the first 13 years of business. Johnny’s passion for the outdoors and his feel for the products and shopping experiences desired by outdoor enthusiasts helped transform the industry. Bass Pro Shops, which employs approximately 20,000 team members, has been named by Forbes as one of “America’s Best Employers.”

Fan Favorites: The Best-Selling Firearms of 2015

Editor — Fri, 08 Apr 2016 15:03:46 +0000

Here at AccurateShooter.com we tend to focus on highly-accurate (1/2-MOA or better), custom-built bolt-action rifles. But for home defense, deer hunting, or just having fun with the grand-kids, factory-built firearms serve their purpose. With that in mind, we wondered, “Just what are the most popular mass-production firearms these days?” Gunbroker.com, the biggest firearms auction site, has tallied the top-selling new and “previously-owned” firearms in various categories for all of last year. Here are Gunbroker’s “Best Selling Firearms” for 2015.

GunBroker.com’s Best-Selling New and Used Firearms of 2015

Some things we expected — the Rem 700 is the top-ranking bolt-action rifle, and the Ruger 10/22 was the leading semi-auto rifle. But notably, the Ruger Precision Rifle (Below) is now the second-best selling bolt rifle in the country. That shows how popular “tactical” style bolt guns have become. It also proves Ruger has created a winner — a fine-shooting rifle that has quickly established a following.

The second most popular bolt-action long-gun is the new Ruger Precision Rifle

In the handgun rankings, there were some surprises. Despite being out of production, the Colt Python is the best-selling used revolver. Why is an out-of-production gun a top-seller? First, high-grade Pythons are actually increasing in value, making this “snake” a good investment. Pythons are also highly accurate, beautifully-finished revolvers with superb triggers. These qualities make the guns highly desirable to serious shooters as well as collectors.

Colt Python (Royal Blue) — An Appreciating Asset

Despite Recession, Hunters and Shooters Fund Their Hobbies

Editor — Fri, 22 Oct 2010 07:00:38 +0000

Many gun industry insiders report that sales are soft this year. However, a recent poll by HunterSurvey.com indicates that most hunters and shooters have not cut back significantly on their gun-related expenditures over the last year. When asked by HunterSurvey.com if they were buying more, less, or about the same amount of gun gear this year (compared to 2009), 40.0 percent of hunters said they were spending “about the same” amount of money this year. That is consistent with 2009, when 40.1% of shooters said their spending levels would stay the same.

No Big Change in Actual Spending Habits
The number of hunters expecting to spend more in 2010 dropped only slightly to 19.8 percent from 21.6 percent in 2009. Of those anticipating fewer purchases, 35.7 percent said they would be spending less compared to 33.5 percent in 2009. Considering the natural variation common to any poll, the differences are not considered significant.

Pollster Rob Southwick, president of Southwick Associates, says: “This is decent news for sporting goods manufacturers and retailers who have been uncertain about the effects of the soft economy. While it appears a slow economic recovery is preventing some sportsmen from rushing out and spending at levels seen in 2007, it appears sales in 2010 will fair rather well, given the softness seen in other retail sectors.” Southwick Associates conducts the surveys at HunterSurvey.com and AnglerSurvey.com.

Big Sale on Hunting Gear Now at Cabela’s
If you’re looking for some excellent deals on hunting gear and accessories, Cabela’s is running a big Fall Hunting Sale right now. You’ll find savings of up to 50% on hunting apparel, knives, boots, ammunition, optics and more…

SHOT Show Report: Download FREE Shot Daily Magazines

Editor — Mon, 01 Feb 2010 18:21:14 +0000

If you couldn’t attend SHOT Show 2010, don’t despair. You can now download complete digital editions of the official SHOT Show Daily Magazines provided to SHOT Show attendees and exhibitors.

Each of the four (4) issues contains a major product review, and many interesting shorter features. The Day 1 Daily features new Rifles for 2010, while the Day 2 Daily features new Optics and Ammo. New Knives are featured in the Day 3 Daily. In the Day 4 Report, there is a good summary of new Airgun offerings.

Even if you’re not interested in the latest retail trends it’s worth downloading all four issues, because there are a number of features relating to club operations and range management. In addition, you’ll find many shorter items of interest to rifle shooters. As well there are handy directories of manufacturers and distributors.

Download SHOT Daily ONE

Download SHOT Daily TWO

Download SHOT Daily THREE

Download SHOT Daily FOUR

Sportsman's Warehouse Files for Chapter 11 Bankruptcy

Editor — Tue, 24 Mar 2009 16:13:35 +0000

The Sportsman’s Warehouse chain of outdoor stores filed for Chapter 11 bankruptcy this past weekend. In papers filed with the U.S. Bankruptcy Court in Wilmington, Delaware, Sportman’s Warehouse declared assets of $436.3 million versus outstanding debt of $452.3 million. Under Chapter 11, a company is protected from creditor lawsuits while it works out a plan to repay its debts during reorganization.

Sportsman’s Warehouse currently operates 29 stores, including four stores in its home state of Utah. “Sportsman’s Warehouse is another retailer victim of the worldwide global recession,” Rourk Kemp, the company’s chief financial officer (CFO), stated in Bankruptcy Court papers. Last year, Sportsman’s Warehouse announced a deal to sell 80% of its operations to a Canadian agricultural cooperative. However, that deal basically fell through, precipitating this Chapter 11 filing.

Stores to Remain Open During Reorganization
Sportsman’s Warehouse does not plan to liquidate or go out of business entirely. According to CFO Kemp, Sportsman’s Warehouse intends to continue its normal business. It will keep its remaining 29 stores open, having already closed 23 stores and sold 15 others. It will also continue to pay employees’ wages and benefits and honor customer service policies, such as returns, exchanges, credits and gift-cards.

New Financing Source
To help pay the bills during reorganization, Sportsmans’ Warehouse announced it has secured, from G.E. Capital Corp., $85 million in financing. These funds will be available to the company while it is under the Chapter 11 protection.