I heard a while back that they were going to build a Cabelas here in Colorado. I have not heard anything about it for a while. Does anyone know if they are still going to build the Cabelas or are in the process in building it?
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The last thing I read was that it was put on hold indefinitely. Here's one of the articles about it:
[url "http://www.cabwheatridge.com/go/site/941/"]http://www.cabwheatridge.com/go/site/941/[/url]
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if i needed to go to cabelas thqat bad i would go to sydney, the one in UT, or make a special trip to Prarie Du Chean (spelling) wisconsin and wall eye fish the mississippi sloughs. BPS is close enough even being from pueblo. and there are plen ty of fly shops around to scratch my fly fishing bug. right befoe i deployed i went to fish the east, taylor, and gunnison rivers. i spent 2 hours in the Almont fly shop and they are by far the best people that i have ever run into. i will go out of my way to throw some buisness there way when ever i can. my 2 cents
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[quote kochanut]if i needed to go to cabelas thqat bad i would go to sydney...[/quote]
Ah yes. I've made that road trip many a time! 181 miles from my door to theirs!
Good luck and God's speed to you over there kochanut!
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Cabela's has put a halt to future store openings. They go in the red in all their stores due to the astronomical over head and expense to build, up keep, maintain, and employ the buildings. Their ROI would make any stockholder get an ulcer. Now that Citibank owns over 50% of Cabela's they won't let this happen. Banks are in the business to make money not lose it.
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The new Cabela's store was scheduled to open less than a mile from my house. The land is ready to begin construction, the state, city, & county have almost completed all of the required roadway modifications and agreed to tremendous tax breaks for Cabela's at the store. However, Cabela's has now put the project on indefinite hold due to the current state of the economy. Guess we'll just have to wait 'till gas goes back down to $2.00/gal.?????
Regards, & Good Fishin',
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Even if they started today it takes them an average of 18 months to build one from the foundation to opening the doors. Their stock has nose dived to $11.00 a share as of today and even with all the tax incentives, free land, etc.. it will just be a money pit because of the overhead. Non of their stores make a profit. Catalog sales are way down and the only thing thing they have going for them in the black is Citibanks financial services, which is minimal that don't make up for all the losses with minimal gains.
Looking at their capital, ROI, assets, and current expendentures I can't see it happening. The Share holders have lost their butts. Their 52 wk peak was $28 and has crashed to $11. Not very many happy campers with numbers like that.
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In this case I am surprised they have not been making any huge sales or offers. They are probably holding on and waiting until the sales pick up, still want to make every extra cent they can I guess.
What about Sportsman's Warehouse, who owns the larger portion of shares for them? I have been overhearing the warehouse employees that they have a huge number of stacked up unsold stuff?
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I would think Cabelas would be unloading as much as they can by liquidation now going thru hunting season to recover and turn some of their dead Inventory with some monster sales as well. They need to pick up some market share.
Bass Pro and Sportsman's are doing fine somehow. Gander is almost getting to penny stock status with $3 a share. Economy is tuff in every sector of Retail and Services across the country.
I went to the grocery store yesterday and paid almost $3 for a tomatoe! Crazy!!!!!!
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