Is Cabelas ready to ring the closing bell?

Ed L.

Ed L.

Well-known member
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There is a Bass Pro relocating its Cincinnati store 2 exits south ofa brand new Cabelas that opened in November.. Looks like construction has started......Go figure?

The offerings at the new Cabelas make it pretty underwhelming, but then again, I'm at that stage in my life where I pretty much have all the gear I need + any gear purchases I do make can easily and conveniently be made from any number of sources offering better quality and prices.

Notice your link is to a story from Dec 2nd. Haven't heard as much noise about the rumors since then. Will be interesting to see how it all shakes out.
 
Yeah, I was looking for a new dip net and a few things for the boat for spring. You know your living in the past when you get sticker shock when pricing a dip net! I think I'll tell the boys thanks but no more Cabelas or Bass Pro Shop gift cards please. Amazon works fine.
 
Is it me or are we looking at a historically mail order company, that instead of jumping on the internet bandwagon, started building brick and mortar stores when the "malls" were peaking or beginning to decline. Cabelas basically jumped onto a sinking ship. I go to our local store and find that over 50% of the place is devoted to clothing, mostly women's, and the "outfitters" only knowing the basic information about hunting gear, because if you are working at Cabelas, you can't afford to hunt much. Their guns on sale are more expensive than the major privately owned gun stores regular prices located just a few miles away. If there is something in the catalog that you NEED, it's not in the store, you have to order it and have it shipped to the store so as to not pay shipping.

The best thing about the East Hartford CT store is the donut vendor located outside the entrance
 
Jim, you make an excellent point about the internet vs brick sure. Time will tell.
 
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Jim - There might be some correlation but having ordered from them since I can remember, this time of year they always have stuff out-of-stock or on backorder. Numerous times I've ordered something in December and they keep giving me backorder notices and then just cancel my order in March because product still unavailable. Not the best business model but they have been consistent, ha.
 
LL Bean has similar backorder issues this time of year, also invested in adding "bricks and mortar" stores in the last decade, and has seen a similar change in focus from a "hunting and fishing" outfitter to mostly clothing. (Though Beans made this transition a long time before Cabelas did.) Beans remains quite successful and is in no danger of being consumed in a merger.

I shop from both companies, in person and online, and am neither a huge fan nor a detractor of either. If Cabela's closed their retail outlet tomorrow I'd barely notice it. If LL Bean did the same, the primary impact on me would be on the local economy, where Beans is a major employer and longtime local business.

I could find the same or similar gear elsewhere, often of better quality and lower price, and often do. I do really like one wading jacket I have from Cabela's, and several pairs of khaki pants from Beans, and would miss them if I couldn't replace them when they wear out.
 
Remember when LL Bean had the TDB 14 for sale in their catalogs?
Would not miss Cabelas much but a long time customer never the less.
 
LL Beans clothing is actually quite well rated by Consumers Reports in terms of both fit and quality of merchandise sold-top three retailers. They have an excellent returns process as well. I bought my first TDB based on LL Bean's endorsement of the boat via featuring it in the catalog.

The Johnny Morris family (owners of Bass Pro Shops) have an estimated net worth of just under the current market Cap. of Cabelas...they are either going to have to do a very highly leveraged purchase or seek a private sector venture capital partner to purchase Cabelas. Cabelas is already closing stores(a co-worker of my wife has a son who works in loss prevention for Cabelas, he has relocated twice due to store closures). I suspect that you will see Cabelas seek a capital infusion via a partnership with a private equity company. As was just mentioned, a very bad business model that runs counter to retail market purchasing trends established over the last decade, as well as opting to go Public for a cash infusion to fund retail outlet expansion, were both poorly conceived and executed, nationally and regionally. I would also question their marketing outlays-not very cost effective to do a catalog mass mailing nation wide every two days. I would focus those mailings on individuals who have made at least two significant purchases within the last two months or so...I know they have internal compilations of names of purchasers who are high purchase volume customers. I used to be one a decade ago. I still receive a catalog every handful of days.
 
Not just the weekly catalogs, but the hardcover book of catalogs. Too bad that's not full of waterfowling stories! That thing can't be cheap to produce and mail out. Especially when they include people like myself that haven't purchased anything from them in quite a long time.


Steve
 
I think the hardcover only goes to club members
Click to expand...

The year I moved back from Florida I had to invest in some items more suited to northern winters. That was an expensive year. I received a hard bond catalog the next year so I thought it must have been based on purchases.
 
Got nervous about them closing and figured I'd cash in my Cabelas Bucks. Got a nice pair of neoprene waders and had 42cents left. Every month I get the credit card bill with a few offers for bargain stuff. Can't believe the price of things. Everything is way overpriced.
Now that they have an outlet in NC I have to pay local taxes on all purchases. Haven't bought anything, besides cashing in Cabela Bucks, for a long time. Think I got the credit card to get money off a purchase I a made in a Michigan store. I stopped using the Cabelas credit card. Get better cash back on a different card.
 
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