Here's the press release on the Lacey Cabela's:
CABELA’S FINALIZES NEGOTIATIONS TO BUILD
DESTINATION RETAIL STORE IN LACEY, WASHINGTON
SIDNEY, Neb. – Nov. 15, 2006 - Cabela’s Incorporated (NYSE: CAB), the World’s Foremost Outfitter of hunting, fishing and outdoor gear, announced today it has reached an agreement to build one of its destination superstores near the junction of I-5 and Marvin Road in Lacey, Wash., at the Lacey Gateway Project in the Hawks Prairie business district. Cabela's will submit a site plan application to the City of Lacey today according to company officials.
Cabela's anticipates the approximately 185,000-square-foot destination retail store could be open as early as fall of 2007. The Lacey store would be similar in size to Cabela’s impressive retail stores in Kansas City, Kan., and Rogers, Minn. – large stores even by Cabela’s standards.
“We know we have thousands of great customers in Washington and throughout the entire region, and we’re excited about bringing a Cabela’s store to Lacey,” said Dennis Highby, Cabela’s President and Chief Executive Officer. “Spending time outdoors hunting, fishing, hiking and camping is a part of the history and culture of Washington and the Pacific Northwest, and we know we will complement and benefit the community from both an economic and recreational perspective.”
Lacey is an ideal location for a Cabela’s destination superstore, Highby added.
“Tens of thousands of hunters, anglers and other visitors travel through the area every year in addition to the thousands of outdoor enthusiasts already living in the immediate area. Lacey is a dynamic, fast-growing city, and we expect our new store will add significantly to Lacey’s attractiveness to tourists,” said Highby. “We believe a Cabela’s destination retail store will be an ideal match for Lacey and all of Washington.”
To operate a new store of this size, Cabela’s expects to employ as many as 350 people from Lacey and the surrounding area, who will join the Cabela’s family of employees famous for their excellent customer service, outdoor lifestyle and detailed 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.
"The creation of a sense of place for the community and the use of innovative environmental designs have guided our vision for this unique development," said Tri Vo, president of Triway Enterprises and managing member of Hawks Prairie LLC, the developer of the project. "Conservation is at the center of Cabela's business philosophy which makes them a perfect anchor for this project."
Cabela’s currently operates 18 retail locations. In 2006, the company has opened retail stores in Glendale, Ariz.; Boise, Idaho.; Richfield, Wis., and La Vista, Neb. Cabela’s has announced plans to open additional stores in East Hartford, Conn.; Hammond, Ind.; Hoffman Estates, Ill.; Gonzales, La.; Hazelwood, Mo; Reno, Nev.; Post Falls, Idaho; East Rutherford, N.J.; Adairsville, Ga.; Montreal, Quebec; and Wheat Ridge, Colo.
The Lacey, Wash., store will be built in Cabela’s trademark style that re-creates the look and feel of the great outdoors inside of their impressive stores. 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.
Innovatively designed and showcasing thousands of products from Cabela’s world-famous catalog, the stores are known as top 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 Lacey, Wash., Cabela’s store will include:
• 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.
• A deli-style restaurant will feature delicious wild-game sandwiches, as well as tamer fare.
• 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.
About Cabela’s Incorporated
Cabela’s Incorporated, headquartered in Sidney, Nebraska, is the world’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 world, and has long been recognized as the World’s Foremost Outfitter. Through Cabela’s well-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, which serves as its primary customer-loyalty rewards program.
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 Lacey, Washington, and the construction 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; 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 causing a decline in discretionary consumer spending; labor shortages or increased labor costs; operational and regulatory challenges involved in opening and operating a destination retail store in Canada; 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 “Risk Factors” section of the Company's Form 10-K/A for the fiscal year ended December 31, 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.
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