An updated timeline of the outdoor retailer's history in Nebraska
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1961: Dick Cabela of Chappell, Nebraska, purchases fishing flies at a Chicago trade show; he and wife Mary begin selling them by mail from their kitchen table
1963: Jim Cabela joins company. The company issues its first catalog.
1964: The business moves to basement of family furniture store.
1965: The first full-time employee hired: Sharon Robinson.
1967: Cabela’s moves to former American Legion Hall in Chappell.
1969: The company moves its headquarters to Sidney, Neb.
1971: Cabela’s begins accepting credit cards.
1978: Telemarketing department implemented.
1983: U.S. Postal Service assigns Cabela’s its own ZIP code.
1985: Cabela’s Outdoor Adventures launches.
1987: Cabela’s opens its first “destination retail” store, in Kearney.
1991: Flagship catalog showroom opens in Sidney.
1998: Headquarters moves to new building next to Sidney store. Store No. 3 opens in Owatonna, Minn., the first outside Nebraska. Cabelas.com website launched.
2001: Cabela’s charters the World’s Foremost Bank. The bank provides customer service, risk management and payment processing exclusively for Cabela’s Visa cardholders.
2002: Cabela’s opens its newest store, in Kansas City, Kan., near the new Nebraska Furniture Mart.
2004: Cabela’s goes public on New York Stock Exchange.
2006: Store No. 18 opens in La Vista.
2008: Store No. 27 opens in Winnipeg, Canada, the first outside the U.S.
2011: Store No. 33 opens in Springfield, Oregon.
2012: The first Cabela’s Outpost Stores opens in markets with fewer than 250,000 people. Currently, Cabela’s operates 34 retail stores in the United States and Canada.
Cabela’s, the outdoor retailing giant, teams up with Sidney — its partner of 43 years — to launch the largest development project in the western Nebraska city’s history and help ease the growing community’s chronic housing shortage.
2013: As part of an initiative by Cabela’s to promote young women to leadership positions within the company, it pairs with the Harry and Reba Huge Foundation offers college scholarships to four female Nebraska high school students.
2014: Richard “Dick” Cabela, one of the founders, dies at age 77 in Sidney, Neb.
Cabela’s lays off 4 percent of its corporate workforce, about 70 people, including Sidney Mayor Mark Nienhueser, a V.P.
Cabela’s announces dismal third-quarter earnings.
Activist hedge fund Elliott Management reveals an 11.1 percent stake in Cabela’s. Calls for changes, including selling the business.
Reuters reports that Bass Pro Shops could buy Cabela’s.
Bloomberg reports that Cabela’s is shopping itself around to private equity firms.
Cabela’s announces that it will undergo a strategic review, which is often Wall Street speak for selling the company or parts of it.
Cabela’s changes its bylaws to delay director nominations in 2016, a sign, some say, that Elliott was giving Cabela’s “breathing room” to pursue a sale.
Cabela’s splits the roles of chief executive and president, promoting Scott K. Williams to president. Tommy Millner remains CEO.
Chairman Jim Cabela reports to the SEC that he moved about 11.2 million Cabela’s shares into a charitable trust sometime in 2015.
Cabela’s will pay $1 million to the U.S. Securities and Exchange Commission to settle claims that the Sidney, Nebraska, retailer’s chief financial officer, Ralph Castner, misled investors regarding the company’s profitability ratios in 2012. Castner himself also will pay $50,000 to the regulatory agency. As part of the settlement, Castner and Cabela’s did not admit or deny wrongdoing.
Cabela’s will outsource its division that produces catalogs and other advertising to Quad/Graphics. Quad/Graphics, based in Sussex, Wisconsin, will open a Sidney office in early August.
Cabela’s acknowledged for the first time that the company — or parts of it — are for sale in a document filed with the U.S. Securities and Exchange Commission.
Cabela’s is ranked 491 on this year’s Top 500 U.S. brands, according to the British company, Brand Finance, that measures the economic value of commercial names. Cabela’s is valued at $1.2 billion.
Elliott Management, the hedge fund that owns a big stake in Cabela’s now owns about 2.2 million more of the company’s shares than it did at the end of 2015. The recent buys bring Elliott Management’s ownership of Cabela’s to 9.3 percent of the company, up from its initial stake of 8.9 percent. It still has options to buy more — up to about 11 percent of Cabela’s.
The fate of Cabela’s might soon be known. Binding bids to purchase the Nebraska-based outdoors retailer are due by the end of the week, according to a report from Reuters news service. The report, citing anonymous sources, said competitor Bass Pro Shops has partnered with Capital One Financial Corp. to make a bid for the whole company, which includes its retail stores as well as World’s Foremost Bank, operator of the Cabela’s Club Visa card.
Outdoor gear giants Bass Pro Shops and Cabela’s will combine in a $5.5 billion deal.