SIDNEY, Neb. -- (Business Wire)
Cabela’s Incorporated (NYSE:CAB) announced today the signing of an
amended credit facility with a consortium of financial institutions led
by U.S. Bank. This $775 million, five-year credit facility expands and
extends Cabela’s existing $415 million, five-year agreement signed in
2011. Additionally, the facility may be increased to $800 million
subject to certain terms and conditions.
“This agreement is a testament to the confidence our partners have in
Cabela’s,” said Tommy Millner, Cabela’s Chief Executive Officer. “The
amended facility provides us with long-term financing flexibility as we
continue to expand our retail store footprint, increase brand loyalty
through the operations of Cabela’s CLUB, focus on our omni-channel
strategy and increase our market share. We are extremely pleased with
the support provided by our banking partners and look forward to
continuing our relationship with such strong business partners.”
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® 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 is
traded on the New York Stock Exchange under the symbol "CAB".
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 expanding its retail store footprint and
increasing its market share. Forward-looking statements involve risks
and uncertainties that may cause the Company's actual results,
performance, or financial condition to differ materially from the
expectations of future results, performance, or financial condition that
the Company expresses or implies in any forward-looking statements.
These risks and uncertainties include, but are not limited to: the state
of the economy and the level of discretionary consumer spending,
including changes in consumer preferences, demand for firearms and
ammunition, and demographic trends; adverse changes in the capital and
credit markets or the availability of capital and credit; the Company's
ability to successfully execute its omni-channel strategy; increasing
competition in the outdoor sporting goods industry and for credit card
products and reward programs; the cost of the Company's products,
including increases in fuel prices; the availability of the Company's
products due to political or financial instability in countries where
the goods the Company sells are manufactured; supply and delivery
shortages or interruptions, and other interruptions or disruptions to
the Company's systems, processes, or controls, caused by system changes
or other factors; increased or adverse government regulations, including
regulations relating to firearms and ammunition; the Company's ability
to protect its brand, intellectual property, and reputation; the
Company’s ability to prevent cybersecurity breaches and mitigate
cybersecurity risks; the outcome of litigation, administrative, and/or
regulatory matters (including a Commissioner's charge the Company
received from the Chair of the U. S. Equal Employment Opportunity
Commission in January 2011, audits by tax authorities, and compliance
examinations by the Federal Deposit Insurance Corporation); the
Company's ability to manage credit, liquidity, interest rate,
operational, legal, regulatory capital, and compliance risks; the
Company's ability to increase credit card receivables while managing
credit quality; the Company's ability to securitize its credit card
receivables at acceptable rates or access the deposits market at
acceptable rates; the impact of legislation, regulation, and supervisory
regulatory actions in the financial services industry, including the
Dodd-Frank Wall Street Reform and Consumer Protection Act; 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 for the fiscal year ended
December 28, 2013, and Form 10-Q for the quarterly period ended March
29, 2014), 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.
Contacts:
Cabela’s Incorporated
Investor Contact:
Chris Gay,
308-255-2905
or
Media Contact:
Joe Arterburn,
308-255-1204
Source: Cabela’s Incorporated
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