Rumor has it that Cabela’s is closing.
In recent weeks, the online grapevine has been rife with discussions about whether the world-famous outdoor outfitter is closing just a year after opening and turning its 175,000-square-foot store into a regional distribution center.
But reports of Cabela’s demise apparently are greatly exaggerated. “We have heard there are rumors going around stating we plan to close our Gonzales store,” says Joe Arterburn, corporate communications manager for Cabela’s, based in Nebraska. “They are not true. Absolutely not.”
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Ascension Economic Development Corp. President/CEO Tommy Kurtz says reporters have contacted him asking about the store’s future, but “I honestly do not know anything about it.”
The retailer last week announced its third-quarter profit fell 27%. Net income fell to $9.7 million, or 15 cents per share, from $13.2 million, or 20 cents per share, the previous third quarter. Revenue rose 12% from $546.8 million.
“The challenging macro-environment, general consumer concerns about the economy and the unprecedented events in the financial markets impacted sales trends in our business during the quarter,” Cabela’s President and CEO Dennis Highby has said. The company expects holiday sales will be troubled as well.
Cabela’s opened its Gonzales store on Oct. 4, 2007, after a court battle over financing the project with public revenue bonds.
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