Cabela's employees concerned about future - KULR8.com | Local News, Weather & Sports | Billings, MT
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Could not happen to a more deserving business,( except BASS PRO), may they be next!!!!
That was fast. The rumors started just a few days ago.Quote:
Management confirmed to employees Monday that a competitor may buy out Cabela's, according to an anonymous staff member.
The sources said the deal was finalized Nov. 9, and the formal take-over will be Jan. 1, 2016.
I've bought plenty from both stores. Hate to see one take over the other. Competition is good for the consumer. IMO
I always got really good customer service at Cabela's and I hate to see that disappear.
Start buying from the guys who make great tackle right here on the boards. This news is really depressing!!!!!!
Agree. Like to have back just half the money I've spent here.Quote:
Originally Posted by kycreek
With less and less competition sporting goods prices will be going up. I liked buying online from Cabela's because they were out of state. I didn't have to pay sales tax and a lot of the times free shipping also. BP has always been way to high on their prices for me their stores are more for show than giving good prices. :twocents
I'm curious.... I have bought things for years using their visa points system on my credit card..... does my current status (silver) go away? Do my points ($$$) go away? will Bass Pro honor my status and my $$$ earned through their point system?
Wonder if that means cabelas brands will disappear. I ordered a cabelas bass angler jacket today on sale. They didn't have the bibs in my size. Hope they'll be available in the future.
Just Steve, I am wondering the same thing. Will probably use them up before the end of the year just incase. Pop
Sounds like that one store. Dunno.
What am I gonna do? My card is good thru 2021.
I'd say, hold your horses. The link clearly states that it is the Billings Montana store this story is coming from. If there was any fact in it, it would come out of Sidney, Nebraska. You realize that big companies have been known to sell unprofitable stores without endangering the whole.
I personally have a tough time excepting something as fact when the person telling it insists on not being known. Really does sound, to me, like a disgruntled employee trying to start something just before Christmas. I'll wait for "Official" word.:twocents
Still sounds like BassPro might be trying to aquire some individual stores to strengthen their market share in a few locations.
With the internet sales growing by leaps and bounds every year. I would be awful hesitant to buy a brick and mortar store. If Bass Pro is looking to buy out Cabela's entirely lock stock and barrel ( the rumor I heard ) would be the only way it would make sense to me. Even then I am of the opinion it would be a " poison pill " acquisition. Like when Hewlitt-Packard bought Compaq out.
For competition's sake I hope the deal falls flat. While both companies sell at higher than normal pricing at least Cabela's has the bargain cave. Bass Pro only get my business if they have something I need that I can't find elsewhere. Over the course of an average year. I probably submit 8-12 orders a year from Cabela's.Bass pro might see an order form me about once every three years or so.
This is almost the same conversation as when Tracker Marine bought Ranger. The best competition is your own. Have to wait and see the end result. Probably realign some stores and maybe shut a few down, but I doubt you will see Cabelas gone entirely. Maybe 1 will be store fronts and the other mail order, who knows until it is done. Johnny Morris is a very smart business man and I am sure they have a plan. And I agree it was likely a disgruntled employee/ manager that started all this. Maybe a store manager that just plain don't get it and knows he is facing walking papers. I will wait and see what happens in the end.
I read were Cabelas is in money trouble. There stocks are falling. And this is only a bid to buy out the stock or some of the stock.
Went to Cabelas a week ago after a long absence. The reason - really tired of being asked for my phone #, asking if I would like to make a donation, and asking if I would like a Cabelas credit card. A store I used to go to would also try to talk you into a credit card as soon as you walked into the store. Hate to see the big get bigger (BPS) but I don't like the way Cabelas does business. Maybe I'm just getting crabby in my old age.
the Cabelas card bank isn't part of what "may" be for sale or sold. I'm guessing a good money maker for them, so they'll hold on to it. I'd guess they would transfer "points" to something else of value so as not to lose existing customers.Quote:
Originally Posted by Cane Pole
Quote:
Originally Posted by jigflinger
Quote:
The response in Sidney wasn’t so positive.
Sen. Ken Schilz of Ogallala, whose district includes the Sidney home of Cabela’s, said people across Nebraska should be worried.
If the headquarters were to move or if it were significantly downsized, Schilz said, “it would be devastating to rural Nebraska. Sidney was the one bucking the trend. Sidney was the one showing, ‘Hey, small towns can work. If something would come to pass where Cabela’s was no longer part of that equation, then tell me how we’re going to rehabilitate rural Nebraska?”
Schilz said he had contacted Cabela’s Chief Financial Officer Ralph Castner “in the first minutes” after activist investor Elliott’s involvement became public last week, but at the time, the company was taking a “wait-and-see” approach. Castner hasn’t returned The World-Herald’s calls for comment and the company hasn’t publicly commented on the Elliott stake.
Since then, Schilz said he hasn’t heard anything from the company, but he tried to contact representatives again on Thursday afternoon.
Schilz said he has met with Gov. Pete Ricketts, Sen. Heath Mello of Omaha and Sen. Galen Hadley, the speaker of the Legislature, about what the state might be able to do to assist. No specific incentives have been offered.
“We wanted to make sure we weren’t just throwing stuff out there,” Schilz said. “We need to know whether there’s anything that we can do, and then once we figure that out, we can figure out what it is.”
Ricketts had a second conversation with Cabela’s Chief Executive Tommy Millner Thursday morning before the news about Bass Pro Shops came out, said the governor’s spokesman, Taylor Gage.
“The governor has offered any assistance the State of Nebraska can provide as the company works to become more competitive,” Gage said.
http://www.kearneyhub.com/news/regio...1312ece5a.html
This is do to one investor that his family owns quite a chunk of stock and he wants to sell the company when it is at an all time high. He cares nothing about the company or what they represent but only that he can make more money. He is trying to get other investors to join with him so they can acquire controlling interest in the stock and then he can force a sale of the corporation. Cabela's are on hold for now until this issue gets decided. Cabela's just built a new store in MN but won't even open it up until this is resolved. EB
I always thought Cabela's was grossly overpriced and their marketing approach seemed to me to be all about making outdoor gear more of a preppy fashion statement for the "haves" and not very practical at all for the "have nots" or the more grassroots sportsman and their typical budget ranges. Just my two cents.
Are you sure you're not talking about Orvis? ;)Quote:
Originally Posted by Special K
I agree......there stuff is overpriced thats why I buy from Grizzly Jig and BPSQuote:
Originally Posted by Special K
Only thing I ever bought from them was line.....they had a good deal on their Pro-Line.
Overpriced yes but they run far more sales than bass pro... Sadly our cabelas in Bristol va has only been open a few months and we got a bass pro in Bristol last year so if they do buy them out I'd say out new cabelas is gone... I enjoy the bargain cave alot
Cabela's meat processing equipment is top notch. Grinders, slicers, etc. I highly recommend.
I've got 1 of each in my area and I can't tell 10 cents difference between them other that the names on the goods. Both of them look more like yuppie clothing stores than sporting good stores :twocents:dono
I want your business! Now I do not have to pay the rewards points.
Monk
Wow they just opened two new stores within a reasonable drive for me. One in Huntsville just opened less than 2 months ago. It has to be the fact that one person wants to sell out and not because of struggling or they would not have been building a bunch of new stores.
maybe maybe not sometimes expanding too fast can get you in trouble and strapped for cash. wouldn't be the first time someone ran out of money before the bills were paidQuote:
Originally Posted by crappieseeker
Never been to a Cabbelas store. Only been to BassPro a couple of times until they built one in my town. I usually shop local. Even with the local BassPro, I still shop local, if they don't have it, then I go to BassPro.