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Location: Grand Rapids, MI | Bass Pro Shops has reached a deal to acquire outdoors retail competitor Cabela's and take the company private in a deal valued at $5.5 billion, the companies said Monday.
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Posts: 574
Location: Elk Grove Village, IL & Phillips, WI | I have mixed feelings on this one. I still liked Cabela's selection (online/catalog) over Bass Pro, but their store in Hoffman Estates, IL has become a joke. It used to be 2 stories of great selection, Now the upstairs is closed and there is very little on the single floor that remaines.
Edited by KenK 10/3/2016 11:55 AM
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Location: Metro | KenK - 10/3/2016 11:42 AM
I have mixed feelings on this one. I still liked Cabela's selection (online/catalog) over Bass Pro, but their store in Hoffman Estates has become a joke. It used to be 2 stories of great selection, Now the upstairs is closed and there is very little on the single floor that remained.
I don't think they are changing the brand name are they? |
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| Not sure how I feel about this... Always preferred Cabela's products over the BPS stuff, but our local BPS is a LOT nice than the local Cabela's. |
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Location: Waukesha & Land O Lakes, WI | The store in Richfield WI has become a waste land compared to what it was 3 years ago. Many of the shelves are bare. Personally, I like having the option of running up there if I need something we don't carry. I really don't want to see it close or become a BPS. |
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Location: Minneapolis, MN | I am not a fan of this, it will just mean less competition, fewer options, and higher prices. I’ve always felt like you could get some killer deals at Cabela’s if you timed it right, never felt that way about BPS.
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Location: Vilas County, WI | dami0101 - 10/3/2016 1:02 PM
I am not a fan of this, it will just mean less competition, fewer options, and higher prices. I’ve always felt like you could get some killer deals at Cabela’s if you timed it right, never felt that way about BPS.
^ X2 |
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| Cabelas had gotten to the point they needed a partner or their long term survival was in doubt. Too much debt, too many stores. BPS says they will remain separate entities, each doing what they do best. I hope that is true, because it could be a win for sportsmen. Better BPS than Wally World. |
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Posts: 1220
| This is pretty interesting,especially in light of BPS buying Ranger Boats and all the other brands of Fishing Holding just a year or so ago. Personally, I found Bass Pro to be the far superior horse in this race and am not a bit surprised by the seemingly big win over the lesser company. I really am hoping the Richfield store becomes a Bass Pro. I had actually stopped shopping there!7 |
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Location: minocqua, wi. | they'll both fall victim to amazon prime eventually ... anything that is available on amazon prime is 1. easier to shop for, 2. no more expensive and 3. less expensive and quicker to acquire. not all of the products but quite a few of them. i shop on cabelas and buy on amazonprime |
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| TheShow - 10/3/2016 1:15 PM
dami0101 - 10/3/2016 1:02 PM
I am not a fan of this, it will just mean less competition, fewer options, and higher prices. I’ve always felt like you could get some killer deals at Cabela’s if you timed it right, never felt that way about BPS.
^ X2
X3 ^^^. And way better than someone like wall mart |
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Location: MN | I too have mixed feelings. I really like some aspects of Cabelas other not so much.. I really like Bass Pro for fishing related items and the bigger waterfowl selection... I also think Bass Pro is more family friendly with activities for the kids. I'm hoping they combine the best of each. I read the press release and they seem to understand a mix of both is the right way to go. They're a smart company which is why they are in the position to purchase Cabelas.. I expect great things to come out of this. I know some are worried about less competition but that might just help small bait shops get more business now.. .
Edited by NathanH 10/3/2016 1:55 PM
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Location: Waukesha & Land O Lakes, WI | I don't really shop any of the big box stores for Musky lures anyway. All of them have the same selection of Cowgirls, Bulldawgs and Bucher baits and are usually priced around the same. St.Croix rods are MAP priced so they're the same. And Abu has their reels mfg priced as well for the most part.
How much do you guys actually shop at big box stores? Obviously I work for Gander Mtn, but I cannot remember the last time I actually bought a bait, leader or rig at Gander. |
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Location: Alex or Alek? | Gander Mt Guide - 10/3/2016 2:18 PM
How much do you guys actually shop at big box stores?
Unless I order online, I don't have any other options other then scheels and gander here in Fargo, and most small bait shops in the lakes area don't have much of a muskie selection. |
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| what will this do to the Cabelas point with their credit cards? That is what Im worried about! Hopefully they will still accept them? |
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Location: Waukesha & Land O Lakes, WI | rich - 10/3/2016 3:11 PM
what will this do to the Cabelas point with their credit cards? That is what Im worried about! Hopefully they will still accept them?
From what I've read, you'll be fine. |
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Location: Metro |
How much do you guys actually shop at big box stores? Obviously I work for Gander Mtn, but I cannot remember the last time I actually bought a bait, leader or rig at Gander.
I shop at big box stores most of the time because they usually have anything I need last minute. That being said I wish they would carry a bit better variety. I have recently been buying things online but when I was first starting out I liked to look at a bait before buying. Now that I know a lot more about baits and have fished different baits that buddies have had. I feel more confident buying online. I still wish you could find more stuff in stores but I realize it sometimes it isn't realistic for bait makers (they can only make so many). |
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Location: Smith Creek | rich - 10/3/2016 3:11 PM
what will this do to the Cabelas point with their credit cards? That is what Im worried about! Hopefully they will still accept them?
The only reason they wanted Cabelas was their credit card business. And why they paid 5.5 bil.
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Posts: 280
Location: US | I only shop at Cabelas to use my club points. Rollie and Hellens, Thorne Bros, MTO, TRO, etc are much better places for musky tackle anyways. Lately it seems like cabelas is one of the most expensive places for outdoor gear. |
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Posts: 42
| Flambeauski - 10/4/2016 4:59 AM
rich - 10/3/2016 3:11 PM
what will this do to the Cabelas point with their credit cards? That is what Im worried about! Hopefully they will still accept them?
The only reason they wanted Cabelas was their credit card business. And why they paid 5.5 bil.
Edited by fishpmc 10/3/2016 5:26 PM
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Location: Rhinelander, Wisconsin | Bass Pro Shops Release
Read it!
Attachments
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 th.jpg (17KB - 369 downloads)
032813_logo_2_web.jpg (14KB - 350 downloads)
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Location: Rhinelander, Wisconsin | We also received an open letter from Johnny Morris. We are on the road back from Mississippi, will get a synopsis up tomorrow morning. Please read the release before commenting. |
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| sworrall - 10/3/2016 6:23 PM
We also received an open letter from Johnny Morris. We are on the road back from Mississippi, will get a synopsis up tomorrow morning. Please read the release before commenting.
I had read the news release and some financial analysts' take on it before commenting. I think it will be good for Cabela's. There will be efficiencies gained by combining the two, without erasing their individual identity. As a retired banker, I was interested in the Capital One part of the deal. From a couple of posts, apparently the Cabela's card was a big deal for many of their customers. BPS would be foolish to not try and build on that.
I was in the Richfield store right after it opened and then a couple of other times over the next couple years. Huge investment, and I was struck by the fact that each time there were a lot of customers but not that much buying. Maybe like Sled, folks check stuff out in person but then shop online. That really put a hurt on Best Buy. I hope they make it work. Change had to happen at Cabela's or they would have died a slow death like Sears. |
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| Thank you for the information Steve, this clears up a lot of speculation. Will have to wait and see what happens down the road. Thanks again. |
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| Well, Cabela's has never been the go-to for a niche market like muskie gear. But many/most of us do a lot more outdoors than just muskies, and for a long time Cabela's has been the go-to for high-quality technical hunting and cold-weather gear. Their store-brand items were at or near the top for performance and the service has always been great if there was ever an issue. That's declined recently with an emphasis on popular items and lower cost, and like others I'm concerned that this purchase will accelerate their push towards more mainstream and less-expensive items. That's okay, there are other options that have stepped up to fill the "gear that's got to work in the cold" market.
Flambeauski - 10/3/2016 3:59 PM
The only reason they wanted Cabelas was their credit card business. And why they paid 5.5 bil.
That isn't right - the credit card business was actually the part they wanted the least because it's a pain to operate (although profitable). They paid $4.5 bil plus assumed about $1 bil in debt service etc. One of the big hold-ups on the sale for the past year or so was that Cabela's had to divest their credit card business and then find someone else to buy it separately. Since the advent of strict regulation of the credit card industry, Cabela's was one of the last remaining retailers that offered its own credit card - they've essentially all gone to the big banks.
It sounds like there was a deal with BPS and Capital One, with the credit card business being taken over/serviced by Capital One on behalf of BPS, and they say they will offer both BPS and Cabela's branded credit cards that will include their loyalty programs. It'll be like any other rewards card or miles card offered through a big bank and not directly from the company.
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Location: Oregon, WI | I hope they will honor any outstanding Cabela's gift cards. I have about $200 worth sitting at home. |
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Location: Rhinelander, Wisconsin | Glaucus_ - 10/4/2016 8:31 AM
Well, Cabela's has never been the go-to for a niche market like muskie gear. But many/most of us do a lot more outdoors than just muskies, and for a long time Cabela's has been the go-to for high-quality technical hunting and cold-weather gear. Their store-brand items were at or near the top for performance and the service has always been great if there was ever an issue. That's declined recently with an emphasis on popular items and lower cost, and like others I'm concerned that this purchase will accelerate their push towards more mainstream and less-expensive items. That's okay, there are other options that have stepped up to fill the "gear that's got to work in the cold" market.
Flambeauski - 10/3/2016 3:59 PM
The only reason they wanted Cabelas was their credit card business. And why they paid 5.5 bil.
That isn't right - the credit card business was actually the part they wanted the least because it's a pain to operate (although profitable ). They paid $4.5 bil plus assumed about $1 bil in debt service etc. One of the big hold-ups on the sale for the past year or so was that Cabela's had to divest their credit card business and then find someone else to buy it separately. Since the advent of strict regulation of the credit card industry, Cabela's was one of the last remaining retailers that offered its own credit card - they've essentially all gone to the big banks.
It sounds like there was a deal with BPS and Capital One, with the credit card business being taken over/serviced by Capital One on behalf of BPS, and they say they will offer both BPS and Cabela's branded credit cards that will include their loyalty programs. It'll be like any other rewards card or miles card offered through a big bank and not directly from the company.
He's correct on the cc portion of the purchase.
Please keep in mind OutdoorsFIRST works for BassProShops1source.com under the Pros4- 1source moniker. We've met the folks down there in Missouri personally, and can tell you without hesitation there's no one in this business who works harder to meet their consumers needs. Overall, this will be very positive for Cabela's. As to the 'I hope they' stuff, READ the release, please, it should answer any question on that front.
A number of the same concerns were offered when BPS bought Ranger, Triton, and Stratos. Other than some basic differences in philosophy that caused some personnel changes, all those brands are doing very well indeed. |
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Location: Minneapolis, MN | I, and I assume most others, have read the press releases/statements, and at the end of the day they aren’t worth the monthly cost I pay to access the internet on which I read them. Yes, there are no immediate plans to change things, but that doesn’t mean 5 years down the road you won’t see big changes. BPS buying Ranger added a premier brand to their portfolio, BPS buying Cabela’s gives them direct control of their biggest competitor, it’s like Ford buying Chevy, not when Ford bought Jaguar. Eventually they are going to run into situations where they are cannibalizing themselves or where it makes more sense to condense their product lines, and that’s when you are going to start seeing big changes. 5 years from now you won’t be choosing from Redhead or Cabela’s branded items. Right now I can walk into my local Cabela’s and see Alumacraft, Lowes, Stratus, and Ranger fishing boats, the three times I’ve been in a Bass Pro it’s been Tracker, Tracker, Tracker.
And yes, neither BPS or Cabela’s are the best for everything musky, but there’s a lot more than just baits that goes into chasing these beasts, and that’s where BPS and Cabela’s outshine your small specialized stores. Yes TB has the better selection of musky baits, but for everything else Cabela’s has the bigger selection.
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Location: minocqua, wi. | take the time to look at store map locations of both companies ... it's complementary and not predatory in 80% of locations and if you argue the strategic logic you're just arguing to argue.
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Location: Rhinelander, Wisconsin | What sled posted.
If you walked into a Cabela's a month ago and saw a Ranger, Triton, or Stratos for sale, you were looking at an arch competitor selling brands BPS owns.
Some Cabela's were allowed to sell select independent brands, and probably will be alowed to into the future because of major dealers for the BPS brands already in the regional marketplace...that didn't change. If thee is a top 5 Ranger dealer a rock throw from a local Cabela's, they may stock a regional brand instead.
Read and believe what was said earlier about Cabela's and Sears had everything remained as it was.
Last thing, I am pretty sure the release wasn't crafted to please any one person and they didn't appear to be asking for approval or permission. Many of us in the media opted to publish the short version minus the extensive financial banter. |
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| This is hardly a ford buying Chevy scenario. They both have many competitors, starting with the online giant Amazon. Retail today is under tremendous pressure to be more efficient and this is a good example of companies trying to succeed in a very difficult environment. |
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| I wonder how they all survive. I have, within 20 miles of my front door:
Bass Pro Shops
Cabela's
Dick's
Orvis
Gander
REI
LL Bean
It would be nice if they could all get together and decide "okay - you sell sporting goods, you sell fishing gear, you sell clothing, and you sell hunting gear..."
Traditional retail establishments may be going extinct, but there are still guys like me that want to put my hands on a product before I decide to buy it... |
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Location: minocqua, wi. | and without leaving the house you have amazon prime with 2nd day free shipping ... i bought pencil lead on it the other day. no good reason to ever leave your house with amazon prime ... can even get a pork shoulder if you want to.
tough market out there ... staying the same in the retail world is dangerous.
Edited by jonnysled 10/4/2016 3:04 PM
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Location: Metro | People are just afraid of change. Always have and always will. In the end I will still be able to musky fish and go camping so I think I'll survive. |
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| jonnysled - 10/4/2016 2:43 PM
and without leaving the house you have amazon prime with 2nd day free shipping ... i bought pencil lead on it the other day. no good reason to ever leave your house with amazon prime ... can even get a pork shoulder if you want to.
tough market out there ... staying the same in the retail world is dangerous.
Got your Charmin button yet, Jon? |
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Location: Elk River, Minnesota | This to me seems much like what we saw with...what was it...Lund boats, Mercury outboards and I think Brunswick Corp? Something along that line a few years back. The only thing it seemed to do was make Lund boats have Mercury Pre-rigging on them rather than being like Alumacraft which is still open to any brand motor someone wants o on it. Doesn't mean you couldn't get a lund with something else on it...you just have to pay extra for it...and I might even be off on that.
If I'm thinking correctly from above, I see this as basically the same thing. They are companies who are like subsidiaries of another company, but are independent from each other and will continue to function in that manner.
Dami might be right in that some things might be condensed, but the two brands are strong brands as stand-alone products...Cabelas having more of a hunting market whereas Bass Pro is more Fishing market... I don't see that changing anytime soon. I could see how products in those areas where both brands exist in very close proximity might be managed a bit to tailor to either fishing or hunting...but that would be it. Nothing I'm going to get myself all worked up over....
I'm sure the heads of the companies know a heck of a lot more about it than I do and have a vision of where things are going... I'll leave it up to them and continue to shop there regardless.
Steve
Edited by VMS 10/4/2016 3:11 PM
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Location: Waukesha & Land O Lakes, WI | esoxaddict - 10/4/2016 2:40 PM
I wonder how they all survive. I have, within 20 miles of my front door:
Bass Pro Shops
Cabela's
Dick's
Orvis
Gander
REI
LL Bean
It would be nice if they could all get together and decide "okay - you sell sporting goods, you sell fishing gear, you sell clothing, and you sell hunting gear..."
Traditional retail establishments may be going extinct, but there are still guys like me that want to put my hands on a product before I decide to buy it...
Each one of those on top each has their own specialties....
BPS...fishing
Cabelas....used firearms, optics, mid-price Private Label clothing
Dicks....ball and sports gear
Gander...new firearms
REI....camping/climbing gear
LL Bean...high end outdoor clothing
Given that BPS, GM and Cabelas all sort of do the same thing, BPS and Cabelas go more hand in hand imo. |
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Location: minocqua, wi. | esoxaddict - 10/4/2016 3:06 PM
jonnysled - 10/4/2016 2:43 PM
and without leaving the house you have amazon prime with 2nd day free shipping ... i bought pencil lead on it the other day. no good reason to ever leave your house with amazon prime ... can even get a pork shoulder if you want to.
tough market out there ... staying the same in the retail world is dangerous.
Got your Charmin button yet, Jon?
did you say Charmin? ... no more toilet paper taking up precious cart space ... thanks for the tip!!
https://www.amazon.com/Charmin-Ultra-Toilet-Tissue-Double/dp/B00YMVI... |
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| And just when you think it can't get any easier, they now sell these:
https://www.amazon.com/Dash-Buttons/b?ie=UTF8&node=10667898011
Push button, TP gets delivered to your door tomorrow... |
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This is Incredible! I am definitly going to order some of these. However, I don't see a dash button for Cortland Masterbraid. I hate when I run out the night before a big trip and I need to respool a reel. |
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Location: West Chester, OH | jonnysled - 10/4/2016 4:36 PM
esoxaddict - 10/4/2016 3:06 PM
jonnysled - 10/4/2016 2:43 PM
and without leaving the house you have amazon prime with 2nd day free shipping ... i bought pencil lead on it the other day. no good reason to ever leave your house with amazon prime ... can even get a pork shoulder if you want to.
tough market out there ... staying the same in the retail world is dangerous.
Got your Charmin button yet, Jon?
did you say Charmin? ... no more toilet paper taking up precious cart space ... thanks for the tip!!
https://www.amazon.com/Charmin-Ultra-Toilet-Tissue-Double/dp/B00YMVI...
Buy! Buy! Buy! Infinite shelf life & pumps up the cinci retirement portfolio! |
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Location: Rhinelander, Wisconsin | Open letter:
http://www.basspro.com/webapp/wcs/stores/servlet/CFPageC?storeId=10... |
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Location: Waukesha & Land O Lakes, WI | "It is business as usual at Bass Pro Shops and Cabela's and there will be no immediate impact to our stores."
When I read the letter from Steve's link and saw this line, the first thing that raises a red flag to me, it "no immediate". I've worked in retail now for pushing 17 years and when you see lines like this, there's big changes coming. Not saying store closings or employees losing jobs, but as expected, wholesale changes to probably both companies. |
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Location: minocqua, wi. | i bought mechanical pencil lead from amazon the other day vs. going to yalmart to get it ...
the foodsaver i bought yesterday will be here before noon today. |
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Location: Hastings, mn, 55033 | North of 8 - 10/3/2016 10:05 PM
sworrall - 10/3/2016 6:23 PM
We also received an open letter from Johnny Morris. We are on the road back from Mississippi, will get a synopsis up tomorrow morning. Please read the release before commenting.
I had read the news release and some financial analysts' take on it before commenting. I think it will be good for Cabela's. There will be efficiencies gained by combining the two, without erasing their individual identity. As a retired banker, I was interested in the Capital One part of the deal. From a couple of posts, apparently the Cabela's card was a big deal for many of their customers. BPS would be foolish to not try and build on that.
I was in the Richfield store right after it opened and then a couple of other times over the next couple years. Huge investment, and I was struck by the fact that each time there were a lot of customers but not that much buying. Maybe like Sled, folks check stuff out in person but then shop online. That really put a hurt on Best Buy. I hope they make it work. Change had to happen at Cabela's or they would have died a slow death like Sears.
The biggest thing that hurt Best Buy is the same thing hurting Cabelas. They got to big for their britches. There was no need to open stores that just end up canibalizing sales from existing stores. For example in the Twin Cities, they opened a store in Woodbury. Gee, many if not most of the customers at the Owatonna and Rogers stores came from the Twin Cities metro. Now they ship at Woodbury, or have item shipped to that store if they don't carry it.
At one point in time along the 494 corridor there were 6 or 7 Best Buy stores within a 15-20 mile stretch. Just not a good business model, unless your the CEO reaping nice bonuses for the "growth" under your leadership. Of course none of that money had to be given back when they started closing most of those stores. |
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Location: Waukesha & Land O Lakes, WI | castmaster - 10/5/2016 12:25 PM
North of 8 - 10/3/2016 10:05 PM
sworrall - 10/3/2016 6:23 PM
We also received an open letter from Johnny Morris. We are on the road back from Mississippi, will get a synopsis up tomorrow morning. Please read the release before commenting.
I had read the news release and some financial analysts' take on it before commenting. I think it will be good for Cabela's. There will be efficiencies gained by combining the two, without erasing their individual identity. As a retired banker, I was interested in the Capital One part of the deal. From a couple of posts, apparently the Cabela's card was a big deal for many of their customers. BPS would be foolish to not try and build on that.
I was in the Richfield store right after it opened and then a couple of other times over the next couple years. Huge investment, and I was struck by the fact that each time there were a lot of customers but not that much buying. Maybe like Sled, folks check stuff out in person but then shop online. That really put a hurt on Best Buy. I hope they make it work. Change had to happen at Cabela's or they would have died a slow death like Sears.
The biggest thing that hurt Best Buy is the same thing hurting Cabelas. They got to big for their britches. There was no need to open stores that just end up canibalizing sales from existing stores. For example in the Twin Cities, they opened a store in Woodbury. Gee, many if not most of the customers at the Owatonna and Rogers stores came from the Twin Cities metro. Now they ship at Woodbury, or have item shipped to that store if they don't carry it.
At one point in time along the 494 corridor there were 6 or 7 Best Buy stores within a 15-20 mile stretch. Just not a good business model, unless your the CEO reaping nice bonuses for the "growth" under your leadership. Of course none of that money had to be given back when they started closing most of those stores.
Cabelas was trying to keep up with Gander Mountain. Their last three stores in WI....Richfield (next to Germantown GM), Sun Prarie, (By Baraboo and Madison GM) and Green Bay, (By GB GM). |
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Location: MN | Keep up with Gander, hah! Last couple times I was in a Gander store you could shoot a gun off in there and not worry about hitting anyone - customer or employee. |
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Location: Northwest Chicago Burbs | jonnysled - 10/5/2016 9:18 AM
i bought mechanical pencil lead from amazon the other day vs. going to yalmart to get it ...
the foodsaver i bought yesterday will be here before noon today.
I cant stop buying cold weather gear on Amazon!!! Had to put myself in Amazon timeout today. |
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Location: MN | Slamr - 10/5/2016 3:30 PM
jonnysled - 10/5/2016 9:18 AM
i bought mechanical pencil lead from amazon the other day vs. going to yalmart to get it ...
the foodsaver i bought yesterday will be here before noon today.
I cant stop buying cold weather gear on Amazon!!! Had to put myself in Amazon timeout today.
Such as? |
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Location: The desert | Propster - 10/5/2016 3:29 PM
Keep up with Gander, hah! Last couple times I was in a Gander store you could shoot a gun off in there and not worry about hitting anyone - customer or employee.
So true. The best thing about Gander Mountain is it's a great place to stop with the kids on a long drive. They can pretty much run wild and not run into anyone. |
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Location: Waukesha & Land O Lakes, WI | Propster - 10/5/2016 3:29 PM
Keep up with Gander, hah! Last couple times I was in a Gander store you could shoot a gun off in there and not worry about hitting anyone - customer or employee.
You been in a Cabelas recently? you can hear the 2nd floor popcorn machine working from the front door. |
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Location: Waukesha & Land O Lakes, WI | Slamr - 10/5/2016 3:30 PM
jonnysled - 10/5/2016 9:18 AM
i bought mechanical pencil lead from amazon the other day vs. going to yalmart to get it ...
the foodsaver i bought yesterday will be here before noon today.
I cant stop buying cold weather gear on Amazon!!! Had to put myself in Amazon timeout today.
We have an online training site called 3.5. Most of our vendors are on it and offer 50-60% off. Nearly impossible not to buy new stuff. |
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| MOJOcandy101 - 10/3/2016 2:28 PM
Gander Mt Guide - 10/3/2016 2:18 PM
How much do you guys actually shop at big box stores?
Unless I order online, I don't have any other options other then scheels and gander here in Fargo, and most small bait shops in the lakes area don't have much of a muskie selection.
Quality Bait in DL is under new ownership and they are trying to get a better lure selection. They actually have a better selection than the stores in Fargo as far as unique stuff typically. I buy almost all of my stuff online though. Can get the colors I want at the same or lower price than what I find around the stores. |
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Location: Michigan | Gander Mt Guide - 10/6/2016 9:55 AM
We have an online training site called 3.5. Most of our vendors are on it and offer 50-60% off. Nearly impossible not to buy new stuff.
3point5 and the Pro Deals are what I miss about retail. I always thought it was funny too how you could get all these other brands at 50-60% off, but only get 10-15-20% off of the actual brand you worked for (Cabela's, BPS, etc). |
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