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SIDNEY, NE - Cabela's Incorporated (NYSE: CAB), the World's Foremost Outfitter of hunting, fishing and outdoor gear, announced today it is in negotiations to build one of its large-format destination retail stores in Reno, Nevada. Plans call for the 125,000-square-foot outdoor gear superstore to be opened fall 2007. It will be similar in size to the Cabela's retail stores in Owatonna, Minnesota, and Kansas City, Kansas.
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"Our comprehensive research has shown the sportsmen and women of the area are dedicated Cabela's customers," said Dennis Highby, President and CEO of Cabela's Inc. "They live the Cabela's lifestyle with great passion and enthusiasm. We are excited to bring our world-famous retail experience to our great customers who live in Reno, as well as to the thousands of hunters and anglers who travel through the area every year. We believe a Cabela's store will be the perfect fit for Reno and all of Nevada."
Highby also stated that though Cabela's has entered into an agreement to purchase 38.5 acres of land from Pinnacle Entertainment adjacent to the Boomtown Reno property on Interstate 80 near the California border, there are many details to work out before the store can become a reality, including securing funding for road and interchange improvements in the area.
To operate the new store, Cabela's expects to employ more than 200 people, who will join the Cabela's family of more than 9,000 employees carrying on the Cabela's tradition of excellent customer service. Employees are expected to come from Reno and the surrounding area to join Cabela's family of staff members famous for their outdoor lifestyle and intimate knowledge of outdoor products. Product offerings will include hunting, fishing, camping, hiking, boating and wildlife watching gear, as well as outdoor clothing and outdoors-styled gifts and furnishings.
"With the amazing sporting opportunities in nearby Tahoe and the Sierras, as well as those throughout Nevada, California and the Pacific Northwest, Reno is an ideal location," said Highby. "The Cabela's Retail Experience will complement the many, varied outdoor adventures the area has to offer."
The Nevada store will be built in Cabela's trademark style that evokes the feeling of the outdoors. Cabela's stores are known as top-notch educational and entertainment attractions, mixing a décor of museum-quality animal displays with colorful dioramas, huge aquariums stocked with native fish and a centerpiece indoor mountain displaying trophy animals interacting in realistic re-creations of their natural habitats.
Extraordinary in design and showcasing thousands of products from Cabela's world-famous catalog, the stores are known as shopping and tourism destinations, drawing customers not only from the local area, but also from hundreds of miles away. Many traveling sportsmen and women are also attracted by the familiar Cabela's script logo and the Company's world-famous reputation for quality merchandise, value and extraordinary customer service.
Highby said plans also call for the building of complementary businesses, such as motels, restaurants and other travel-related services, in conjunction with the new store.
- A towering mountain replica, the centerpiece of the store's open showroom, with running waterfalls and streams, a trout pond and trophy animals in re-creations of their distinct habitats. Similar mountains, each called Conservation Mountain, have been built in other Cabela's stores as monuments to wildlife and salutes to the sportsmen and women who support wildlife conservation.
- A gigantic, walk-through, freshwater aquarium stocked with fish native to the area.
- Museum-quality representations of many wild-game species, including an expansive diorama devoted to African game animals.
- A deli-style restaurant will feature delicious wild-game sandwiches, as well as tamer fare. Also on the second floor will be an art gallery furnished with a cozy fieldstone fireplace.
- World-class Gun Library, providing gun collectors and aficionados the opportunity to browse through a collection of examples of the gun-making art.
- Shooting gallery providing fun along with the opportunity to learn basic shooting skills in a safe environment.
- Indoor archery range where archers can test and fine-tune their equipment.
- Bargain Cave, featuring discount prices on returned and discontinued merchandise.
- A sun-drenched atrium interior featuring authentic fieldstone accents and wood furnishings.
- Beautifully landscaped grounds featuring native trees and plants.
Cabela's Incorporated, headquartered in Sidney, Nebraska, is the nation's largest direct marketer, and a leading specialty retailer, 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 United States, and has long been recognized as the World's Foremost Outfitterâ. Through Cabela's established direct business and its growing number of destination retail stores, 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 Clubâ VISA credit card through which it offers a related customer loyalty rewards program as a vehicle for strengthening its customer relationships.
This press release (other than historical information) contains "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. 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 ability to negotiate favorable lease and economic development arrangements; expansion into new markets; market saturation due to new destination retail store openings; the rate of growth of general and administrative expenses associated with building a strengthened corporate infrastructure to support the Company's growth initiatives; increasing competition in the outdoor segment of the sporting goods industry; the cost of the Company's products; supply and delivery interruptions; adverse weather conditions; fluctuations in operating results; adverse economic conditions; increased fuel prices; labor shortages or increased labor costs; changes in consumer preferences and demographic trends; increased government regulation; inadequate protection of the Company's intellectual property; other factors that the Company may not have currently identified or quantified; and other risks, relevant factors and uncertainties identified in the Company's SEC reports (including the "Risk Factors" section of the Company's most recently filed prospectus), which are available at the Company's website at www.cabelas.com and the SEC's website at www.sec.gov. The words "believe," "may," "should," "anticipate," "estimate," "expect," "intend," "objective," "seek," "plan," "will" and similar statements are intended to identify forward-looking statements. 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.
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