Cabela's
NYSE : CAB

January 23, 2006 16:00 ET

Cabela's Chooses Montreal for Its First Canadian Retail Store

SIDNEY, Neb.--(CCNMatthews - Jan 23, 2006) -

Cabela's Incorporated (NYSE: CAB), the World's Foremost Outfitter® of hunting, fishing and outdoor gear, announced today it is working to bring a much-anticipated Cabela's retail store to the company's loyal customers in Montreal, Quebec, and the surrounding region.

Although planning and discussions are in early stages, Cabela's expects to open the Montreal retail showroom as early as late fall 2007 or spring 2008. The large-format retail store, located in the Lac Mirabel mixed-use project, will be developed by Connecticut-based Gordon Holdings Group and Rubin Stahl, and would be Cabela's first store built outside the United States.

The Lac Mirabel development, which will encompass more than 14 million square-feet and include 2.2 million square-feet of retail space, will be located on Autoroute 15, just north of Montreal. The project also will include man-made lakes, a sports complex, a 100,000 square-foot Caldea Therapeutic Spa from Andora in Europe, a 70,000 square-foot Kid Tropolis educational indoor city for children, a 140,000 square-foot Montreal Aquarium, hotel facilities, a conference center, and additional entertainment and shopping.

"Our customers in Canada have been asking for a store of their own for many years, and we're very excited to announce this new Cabela's location, which will be built and stocked with merchandise specifically for our Montreal and Canadian customers," said Cabela's President and Chief Executive Officer Dennis Highby. "The Lac Mirabel project is a world-class shopping and entertainment development that will draw visitors from hundreds of miles, and we look forward to serving our Cabela's customers in Montreal and all of Quebec with this new location."

To operate their first store in Canada, Cabela's expects to employ several hundred locals from the surrounding area. Cabela's first Canadian employees will join the Cabela's family of employees in the United States who are famous for delivering excellent customer service, living the outdoor lifestyle and possessing an in-depth knowledge of outdoor gear. Product offerings would include a special assortment of hunting, fishing, camping, hiking, boating and wildlife watching gear tailored to the Canadian market, as well as outdoor clothing and outdoors-styled gifts and furnishings.

Cabela's currently has 14 retail locations in the United States. The newest, a 185,000-square-foot store in Rogers, Minn., opened Oct. 14, 2005. Cabela's also has announced plans to open stores in Boise, Idaho; La Vista, Neb.; Gonzales, La.; Glendale, Ariz.; Richfield, Wis.; and Hazelwood, Mo., in 2006; and Reno, Nev.; Wheat Ridge, Colo.; East Rutherford, N.J.; East Hartford, Conn.; and Hoffman Estates, Ill., in 2007.

The Cabela's Montreal store would be outfitted 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 decor of museum-quality animal displays with colorful dioramas, huge aquariums stocked with native fish and a centerpiece indoor mountain displaying trophy animals 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.

Features of the Cabela's Montreal store would include:

-- A huge mountain replica, the centerpiece of the store's open showroom, including 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 freshwater aquarium stocked with fish native to the area.

-- Museum-quality representations of many wild-game species.

-- World-class Gun Library, providing gun collectors and aficionados the opportunity to browse through a collection of examples of the gun-making art.

-- Indoor archery range where archers can test and fine-tune their equipment.

-- Bargain Cave, featuring discount prices on returned and discontinued merchandise.

-- A unique interior featuring ruggedly beautiful accents and furnishings.

About Cabela's Incorporated

Cabela's Incorporated, headquartered in Sidney, Nebraska, is North America'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 North America, and has long been recognized as the World's Foremost Outfitter®. 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 Club® VISA credit card through which it offers a related customer loyalty rewards program as a vehicle for strengthening its customer relationships.

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 the construction and anticipated opening date of a destination retail store in Montreal, Canada, and the construction and planned opening dates of destination retail stores in other locations. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from the expectations of future results 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 purchase, lease and/or economic development arrangements for destination retail store locations; regulatory and legal challenges involved in opening and operating a destination retail store in Canada; increasing competition in the outdoor segment of the sporting goods industry; supply and delivery shortages or interruptions; delays in traffic planning and/or road construction around new destination retail stores; the ability to secure required governmental permits and approvals, adverse weather conditions; adverse economic conditions in the United States and/or Canada causing a decline in discretionary consumer spending; labor shortages or increased labor costs; the cost of fuel increasing; increased government regulation; other factors that the Company may not have currently identified or quantified; and other risks, relevant factors and uncertainties identified in the Company's filings with the SEC (including the information set forth in the "Factors Affecting Future Results" section of the Company's Form 10-K for the fiscal year ended January 1, 2005), 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.

Contact Information

  • Cabela's Incorporated
    Media:
    Joe Arterburn, 308-255-1204
    or
    Investors:
    Chris Gay, 308-255-2905