Cabela’s, the leading fishing, hunting and outdoor gear retailer has announced their plans to open 3 next-generation stores and relocate their Winnipeg branch in 2013.
Construction of next-generation stores is set to start this summer and Cabela’s plans to open in the spring of next year in the following locations: Louisville, Kentucky; Grandville, Michigan and Columbus, Ohio.
Scaling from 80,000 to 88,000 square feet, the stores will be made in the trademark design of Cabela’s consisting of metal roofing, wood sliding, stonework and exterior log construction. They will also sport big glass facades to enable customers to see the shops’ interior even as they near the building.
Their first 80,000-sq foot Columbus branch will employ as much as 175 workers coming from the nearby areas. It will be constructed in the Polaris Centers at Interstate 71 and Gemini Parkway, putting it alongside Camria Suites, Costco, Hobby Lobby, Toys R Us and various restaurants and hotels.
The sporting and outdoor gear retailer announced on Thursday the 5% increase in their 4th-quarter earnings due to higher sales and bigger profit margins. They also publicized their plan to expand by establishing smaller stores, called Outposts in mid-size cities.
The results are largely optimistic, beating Wall Street forecasts, with its shares rising by almost 10%.
The company’s CEO has announced that they are planning to increase their retail square footage by as much as 10% this year and up to 13% in 2013 through opening in new locations and trying new formats for smaller locations.
According to Cabela’s, their net income for the previous quarter amounted to around USD 70 million or almost a dollar per stock, a small but significant increase from a year prior.
The Outpost Stores is expected to be well-suited to areas in Canada and United States as more stores are planned to be built with their locations still withheld.
In 2013, their Winnipeg, Manitoba store is set to move from their 44,000-sq foot building to a new 70,000-sq foot location where it is expected to employ an additional 110 workers.
At present, Cabela’s is operating 34 retail shops in Canada and US.