100,000-Square-Foot Location Scheduled to Open in Spring 2014
SIDNEY, Neb.--(BUSINESS WIRE)--Jan. 15, 2013--
Cabela’s Incorporated (NYSE: CAB), the World’s Foremost Outfitter® of
hunting, fishing and outdoor gear, announced today plans to open a store
in Greenville, S.C., bringing Cabela’s extraordinary retail experience
to customers in Greenville and the surrounding area.
Cabela’s expects to open the store – its first South Carolina location –
in spring 2014. The 100,000-square-foot store will be located in
Magnolia Park, a newly redeveloped shopping center located at the
junction of Interstates-385 and -85 on Woodruff Road. Magnolia Park,
being developed by Menin Development, already includes Costco, Regal
Cinemas, Rooms to Go, Cheddar’s and other retailers and restaurants,
with plans for additional expansion.
“South Carolinians are part of an exceptional outdoor tradition and
share the Cabela’s lifestyle and values. We wanted to build a store in
the Greenville area to recognize that,” said Cabela’s Chief Executive
Officer Tommy Millner. “We are also excited about the opportunity to
expand our retail footprint in the Southeast.”
The store is expected to employ approximately 235 full-time, part-time
and seasonal employees, and most will come from Greenville and the
surrounding area. Cabela’s typically attracts as staffers experienced
outdoor recreationalists, who join the Cabela’s family of employees
known for their passion for and knowledge of the outdoors as well as
excellent customer service skills.
“We are excited that Cabela’s has chosen Greenville for its first South
Carolina location,” said Greenville Mayor Knox White. “Cabela’s unique
retail experience is a great fit for Greenville and will complement
other unique retail offerings in Magnolia Park. We welcome Cabela’s and
look forward to their opening.”
The building’s exterior will reflect Cabela’s popular store model with
log construction, stonework, wood siding and metal roofing. A large
glass storefront will allow customers to view much of the store’s
interior as they approach the building. The inside will feature the
company’s next-generation layout, designed to surround customers in an
outdoor experience, including museum-quality wildlife displays and
trophy animal mounts displayed on a mountain. The store will also
feature a Gun Library, Bargain Cave, Fudge Shop and indoor archery
range. The start of construction is still to be determined.
"We are pleased and proud that Cabela's has chosen Magnolia Park as
their point of entry into the Southeast." said Craig Menin, President of
Menin Development. "The fact that Cabela's, with all of the various
options available to it, chose Magnolia speaks directly to the quality
of our market and of our project. We welcome Cabela's to Magnolia and
join everyone in the area as we eagerly await the opening of their store
in 2014."
Also today, Cabela’s announced plans to build a store in Woodbury,
Minn., opening in 2014. Cabela’s has previously announced plans to open
stores in Saginaw, Mich.; Columbus, Ohio; Grandville, Mich.; Louisville,
Ky.; Green Bay, Wis.; Thornton, Colo.; Lone Tree, Colo.; Regina,
Saskatchewan, Canada; Kalispell, Mont.; Anchorage, Alaska; Bristol, Va.;
and Christiana, Del. It also will relocate its Winnipeg, Manitoba,
Canada, store. Currently, Cabela’s operates 40 retail stores across the
United States and Canada.
Cabela’s stores showcase thousands of products, including hunting,
fishing, camping, hiking, boating and wildlife-watching gear, as well as
clothing and outdoor-themed gifts and furnishings. The company is famous
for its strong brand and world-renowned reputation for delivering
quality merchandise, value and legendary customer service.
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”.
About Menin Development, Inc.
Menin Development, Inc. has been a privately held owner, developer and
manager of commercial real estate since its founding in 1985. Menin has
owned and developed in excess of $1 billion of retail and mixed use
properties throughout Florida, Virginia, Tennessee, Louisiana and North
and South Carolina including Downtown at the Gardens, Palm Beach
Gardens, Shoppes of Jupiter, Jupiter, Florida and Downtown Short Pump,
Richmond, VA. Menin currently has $400 million of mixed use commercial
projects on going in South Carolina and Florida. Principals are Craig
Menin, Chief Executive Officer; Rob Jacoby, Chief Operating Officer;
Marc Yavinsky, Executive Vice President, and Tony Morrison, Chief Legal
Officer. www.menindevelopment.com
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 Greenville,
S.C., in spring 2014. 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 multi-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 31, 2011, and
Form 10-Q for the fiscal quarter ended June 30, 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.
Source: Cabela’s Incorporated
Cabela’s Incorporated
Media:
Gus Delaporte, 308-255-2753
Wes
Remmer, 308-255-1244
Investor:
Chris Gay, 308-255-2905
