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Sad state of affairs Cabelas RIP


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#1 oldtimer

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Posted 02 February 2017 - 02:38 PM

Well  the old news was that Bass Pro bought out Cabelas. From everything I had gathered the bottom line was that the Cabelas children did not want to run the business after the old man died. Time after time it was put out that nothing would change  just the ownership. That was a lie to calm the mass's.  Since then I have found out that the Cabelas Credit Card will be changing  and Capital One will be overseeing  that section which I find odd because Bank of America runs the BP CC operation but so be it. Some people like Capital One other not so much.

 

 My rant for the day is this: Since moving(7 months ago) POOT & I have targeted 2 large ticket items for the house. One was a VERY LARGE area rug to put our Harvest Table on. It had been in stock for quite some time and I kept an eye on it. After the move one of the first things I did was call Cabelas to order it only to find out it had recently been "discontinued". Ok It happens. Fast forward to Christmas. We had several  smaller indoor out door rugs targeted. We had one already and it is great  so we wanted more. Well by the time we got enough points and GC's  saved up we called Cabelas...only to find that they were just days before "discontinued". Fast forward to this morning only to receive a e-mail from Cabelas saying an order that I made about a month ago which had a couple of items on Back Order (trail cams) now have been "discontinued".

 

 3 strikes your out Dumbass's!!. I called ..AGAIN.. to voice my displeasure at a Supervisor to strangely enough unlike the last incident hear similar displeasure on how things had changed from someone who had been there for over 20 years... WOW thats telling!

 

 So now I have to scroll through their on line Catalog to find something that I need & want to buy from them. I feel lucky that I am in a position to say that I am not in NEED of much that Cabelas offers anymore but when I do figure away to spend this $$ it WILL BE THE LAST TIME CABELAS EVER HEARS MY NAME EXCEPT CANCELING THEIR CREDIT CARD>> GOOD RIDDANCE LOSERS!



#2 Semo

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Posted 02 February 2017 - 02:51 PM

I used to go to the one at Mills Mall in Hazelwood. Loved that store.

#3 MAUI

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Posted 02 February 2017 - 05:11 PM

I've ordered a lot of stuff through Cabelas through the last few decades, but they discontinued my credit card a few years ago and I haven't ordered anything since.., I used to think they were the best thing happening because they had everything related to hunting you could think of.., Sorry to hear this OT..,I think Cabelas outfitted most of our Elk expeditions and all my black powder purchases..,

 

I wonder what they're gonna do with all those Elk and Mule Deer mounts at the KC store.., Let me know when they have the garage sale..,


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#4 ATLchief

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Posted 04 February 2017 - 01:22 AM

That sucks, OT.

 

Strange - here in Richmond, Cabela's opened a brand-spankin' new store on the west side of town in April of last year.  Just a few months before the merger talk was announced.  Nice store.  I've seen bigger ones, but it certainly has most of what you might need. 

 

We already have a gigantic Bass Pro store on the north side of town (my neck of the woods), but the Cabela's is in a great location.  Big time shopping destination.  Every kind of retail store you could imagine over there.
 

Last I heard about it, the FTC has questions over the merger:

 

http://www.investors...s-merger-delay/



#5 ATLchief

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Posted 24 February 2017 - 07:35 PM

http://www.thefirear...belas-just-yet/

 

 

The shares for Cabela’s Inc have been dropping and shareholders are becoming quite concerned. The purchase of Cabela’s by Bass Pro Shops for initially $5.5 billion has been halted due to the Federal Trade Commission (FTC). That figure of $5.5 billion has been adjusted to $4.5 billion now as well. In writing that may not seem like a big deal, but ask any shareholder if they would rather see it sell for one billion dollars more. I think you would know their answer.

What the FTC fears is that there would be too much consolidation (or a small monopoly) in the outdoor sporting goods market. If the merger goes through Cabela’s/Bass Pro Shops would effectively control roughly 20% of their respective market.

The FTC formally has issued a 2nd request to review the proposed transaction. Since Cabela’s is a publically traded company they are also regulated by the Securities and Exchange Commission (SEC). As a result, Cabela’s has to publically disclose their internal workings to shareholders and the general public.

To throw an additional wrench in the completion of the purchase of Cabela’s by Bass Pro Shops, Capital One is separately buying the Cabela’s line of credit cards. That was and still is a huge money maker for Cabela’s, but adds more complexity to the sale of their company. The credit card line purchase by Capital One was to be prospectively completed in October 2017 this year. That timeline still appears to be accurate, but Bass Pro Shops merger with the Cabela’s line of stores will be slowed as a result.

In sum, the FTC wants another look at the paperwork surrounding the Cabela’s/Bass Pro Shops merger. Capital One is still poised to buy the Cabela’s branded credit cards. What remains to be seen is when all these pieces will fall into place. Until then, shareholders of Cabela’s are hoping the bleeding stops sooner rather than later.



#6 oldtimer

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Posted 24 February 2017 - 09:58 PM

sucks to be them






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