Cabelas Shooting Sports

SIDNEY, Neb.--(AmmoLand.com)- Cabela’s Incorporated (NYSE: CAB) announced today the sale of its wildlife-art division, Wild Wings, LLC, to RDE Acquisition Company, LLC, which is owned by a former executive officer of Wild Wings. The closing of the sale took place on Oct. 30, 2009.

As one of the leading publishers, distributors and retailers of wildlife, sporting and nostalgic Americana art prints and art-related products, Wild Wings represents more than 50 of North America’s top wildlife artists and Americana/nostalgia artists. Wild Wings reproduces original wildlife and nature artworks, sells such works as limited-edition prints and sells other collectibles through retail stores, the Internet and mail-order catalogs.

Wild Wings

The company also licenses third parties to produce and sell collectibles and other items featuring such works. Its marketing, product development, sales, administration, picture framing, warehousing and framed-art shipping divisions all are located in Lake City, Minn.

“Wild Wings and its employees have been an integral part of Cabela’s success over the last 10 years, and we are proud to have had them as part of our extended family,” said Tommy Millner, Chief Executive Officer of Cabela’s. “With the sale to RDE Acquisition, we know Wild Wings will be in good hands. We wish them continued success and look forward to working with them in the future.”

Cabela’s will continue to sell Wild Wings products through its retail stores, catalogs and Web site. The closing of this transaction will not have a significant impact on Cabela’s cash flows or consolidated financial results in the fourth quarter of 2009. The Wild Wings sale is consistent with Cabela’s strategy of focusing on core business operations. www.cabelas.com

About Cabela’s Incorporated
Cabela’s Incorporated, headquartered in Sidney, Nebraska, is a leading specialty retailer, and the world’s largest direct marketer, of hunting, fishing, camping and related outdoor merchandise. Since the Company’s founding in 1961, Cabela’s(R) 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(R). Through Cabela’s growing number of retail stores and its well-established direct business, 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(R) Visa credit card, which serves as its primary customer loyalty rewards program. Cabela’s stock is traded on the New York Stock Exchange under the symbol “CAB”.

Cabelas Shooting Sports

SIDNEY, Neb. –-(AmmoLand.com)- Cabela’s Incorporated (NYSE: CAB) and Macerich (NYSE: MAC) announced today plans to bring the Cabela’s retail experience to loyal customers in Grand Junction, Colo., and the surrounding area.

Cabela’s expects to open the Grand Junction store in early summer of 2010. The 75,000-square-foot store will anchor the south end of Mesa Mall at 2424 Highway 6 and 50, and would be Cabela’s first retail store in Colorado. The building’s exterior will reflect Cabela’s traditional store model, while the inside will highlight the Company’s next-generation layout, which includes a Gun Library, conservation-themed wildlife displays and trophy animal mounts. Construction is expected to start in early November 2009.

“Colorado’s Western Slope is a prime location for a variety of outdoor activities, including world-class hunting and fishing, and Grand Junction is the gateway to everything Colorado offers,” said Tommy Millner, Chief Executive Officer of Cabela’s. “The area’s residents, as well as visitors to the region, are people who passionately enjoy their outdoor heritage.”

Cabela’s expects to attract the region’s residents, as well as the many travelers who come to take advantage of the Western Slope’s abundant sporting opportunities. Showcasing thousands of products, including hunting, fishing, camping, hiking, boating and wildlife watching gear, as well as outdoor clothing and outdoor-themed gifts and furnishings, the Company is famous for its strong brand and world-famous reputation for quality merchandise, value and legendary customer service.

Cabela’s typically attracts passionate outdoorsmen and women, who join the Cabela’s family of employees famous for their excellent customer service, outdoor lifestyle and detailed knowledge of outdoor products.

“We’re looking forward to being a part of the vibrant community of Grand Junction and welcoming the area’s stable, dependable workforce to our family,” Millner said. “I’d like to thank the Grand Junction Economic Partnership for their assistance.”

“The Cabela’s experience is truly a perfect fit for Mesa Mall and Grand Junction,” said Randy Brant, Executive Vice President, Real Estate for Macerich.

“We hope this is the first of many opportunities to partner with Cabela’s to bring this strong brand to great real estate in communities we serve across the country.”

Mesa Mall has served as the Western Slope’s leading shopping destination since 1980, with four department stores, over 100 specialty shops and an extensive selection of national retailers and restaurants. As the only regional shopping center between Denver and Salt Lake City, Mesa Mall draws shoppers throughout western Colorado and eastern Utah. For more information, please visit www.shopmesamall.com.

About Cabela’s Incorporated
Cabela’s Incorporated, headquartered in Sidney, Nebraska, is a leading specialty retailer, and the world’s largest direct marketer, of hunting, fishing, camping and related outdoor merchandise. Since the Company’s founding in 1961, Cabela’s(R) 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(R). Through Cabela’s growing number of retail stores and its well-established direct business, 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(R) Visa credit card, which serves as its primary customer loyalty rewards program. Cabela’s stock trades on the New York Stock Exchange under the symbol “CAB”. Visit: www.cabelas.com

About Macerich
Macerich is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. The company is the sole general partner and owns an 87% ownership interest in The Macerich Partnership, L.P. Macerich now owns approximately 75 million square feet of gross leaseable area consisting primarily of interests in 72 regional malls. Additional information about Macerich can be obtained from the company’s Web site at www.macerich.com.

Third Quarter Comparable Store Sales Increased 3.5% -Third Quarter Operating Margins Expand 170 Basis Points -Third Quarter Retail Operating Margins Expand 240 Basis Points -Third Quarter Earnings Per Share Increased 87% to $0.28 Per Diluted Share

Cabelas Shooting Sports

SIDNEY, Neb. –-(AmmoLand.com)- Cabela’s Incorporated (NYSE:CAB) today reported record third quarter fiscal 2009 financial results.

For the quarter, retail store revenue increased 6.1% to $348.0 million led by a 3.5% increase in comparable store sales; direct revenue decreased 6.2% to $226.2 million as the Company lowered direct marketing costs 15.1% resulting in increased revenue per catalog page; and financial services revenue increased 15.0% to $48.2 million. Total revenue for the third quarter of 2009 increased 2.0% to $624.3 million compared to $611.8 million for the third quarter of 2008.

Consolidated operating income increased 53.1% in the quarter to $31.9 million as compared to $20.8 million in the year ago quarter. For the quarter, consolidated operating margins increased 170 basis points over the prior year quarter. Net income for the quarter increased 93% to $18.8 million compared to $9.7 million in the year ago quarter. Earnings per share for the quarter increased 87% to $0.28 compared to $0.15 in the year ago quarter.

“We are delighted that several of our strategic initiatives showed early signs of improvement during the third quarter,” said Tommy Millner, Cabela’s Chief Executive Officer. “These initiatives are improving the profitability of our retail stores, increasing returns on capital through better balance sheet management, improving inventory levels, and increasing profitability at World’s Foremost Bank while preserving the brand loyalty of our cardholders.”

During the third quarter, the Company reported the following results on these strategic initiatives:

• Retail profitability increased 240 basis points from 9.2% to 11.6% as the Company gained efficiencies in the utilization of its advertising and labor resources.
• Borrowings on the Company’s revolving credit facility were $29 million at quarter end as compared to $199 million at the same time last year due to better management of inventory and working capital
• Inventory levels were $572 million at quarter end as compared to $649 million at the same time last year while the Company increased in stock percentage in its retail business.
• Return on invested capital improved 90 basis points.
• Financial services revenue increased 15.0% and the average number of active accounts increased
• 8.7%. Charge-offs were 5.02% as compared to 5.24% in the second quarter of 2009. Charge-offs improved sequentially for the first time since the second quarter of 2007.

“Although there is much work ahead of us, we are very pleased with the results so far,” Millner said. “We have seen solid improvement in retail profitability, balance sheet management, return on invested capital and profitability/customer loyalty at World’s Foremost Bank. And, it is important to note, we have significant opportunities to continue to improve operating efficiencies in these areas for the next several years.”

“Another vitally important strategic initiative is expanding merchandise gross margins, which have been impacted by product mix and our efforts to liquidate unproductive inventory,” Millner said. “During the third quarter, we began to see growth rates in firearm and ammunition sales moderate, and we have begun to see sales trends in all four of our other categories improve.”

“Changes in accounting rules will require Cabela’s to provide an additional $200 million of capital to World’s Foremost Bank in the first quarter of 2010,” Millner said. “During 2009, we have generated excess cash internally to meet this capital need. We expect to have sufficient cash available at the end of the year to meet World’s Foremost Bank’s capital needs for 2010. We are pleased that we will not be required to raise any capital through the equity or long term debt markets to meet this capital need.”

“Our credit facility limits further capital contributions to our financial services subsidiary,” Millner said. “Therefore, in order to inject additional capital into World’s Foremost Bank, we intend to amend our credit facility. We expect to amend our facility in the fourth quarter of 2009 without materially impacting future borrowing costs.”

Cash flows from operations improved significantly for the year-to-date period. For the nine months ending September 26, 2009, cash flows from operations improved $57 million to a positive $24 million as compared to a negative $33 million in the same period a year ago. Capital expenditures during the quarter were $8 million. The Company continues to expect capital expenditures for the year to be $40 million to $50 million.

“As we look ahead into the fourth quarter, we are encouraged by the strength we are seeing in sales in the first four weeks of the quarter,” Millner said. “For the full year 2009, we continue to expect direct revenue to decline at a low to mid-single-digit percentage rate. Due to favorable trends that we have seen in our business, we now expect full year 2009 total revenue growth and comparable store sales to increase at a mid-single-digit percentage rate as compared to our prior guidance of a low single-digit percentage rate. Additionally, we now expect net charge-offs at World’s Foremost Bank to be between 5.1% and 5.3% for the full year as compared to our previous guidance of 5.1% to 5.5%. As a result, we now expect full year earnings per diluted share to increase at a mid-single-digit percentage rate with an opportunity to exceed these results should the strength we have seen in October continue for the remainder of the year. This compares to our previous forecast of full year earnings per diluted share to be roughly equal with 2008 levels.”

Conference Call Information
A conference call to discuss third quarter fiscal 2009 operating results is scheduled for today (Tuesday, October 27) at 11:00 a.m. Eastern Time. A webcast of the call will take place simultaneously and can be accessed by visiting the Investor Relations section of Cabela’s website at www.cabelas.com. A replay of the call will be archived on www.cabelas.com.

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(R) 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(R). Through Cabela’s growing number of retail stores and its well-established direct business, 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(R) Visa credit card, which serves as its primary customer loyalty rewards program. Cabela’s stock is traded on the New York Stock Exchange under the symbol “CAB”.

Cabela's promo code for Fall Clothing

Cabelas Shooting Sports

Sidney, Nebraska– -(AmmoLand.com)- Cabela’s having a exclusive fall sale online now until November 11th 2009. For more info visit Cabelas.com

About: Cabela’s
Cabela’s Incorporated, headquartered in Sidney, Nebraska, is a leading specialty retailer, and the world’s largest direct marketer, 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 growing number of retail stores and its well-established direct business, 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. Cabela’s stock trades on the New York Stock Exchange under the symbol “CAB.” Visit www.cabelas.com