) plans to open a 97,500 square-foot store in Fort Mill, South
Carolina. This would be the company's second outlet in the state.
The store will be situated at Interstate 77, right across the
Carowinds amusement park on the Plaza Fiesta Mall site. Cabela's
is likely to commence construction of the store in 2014 and
expects it to be fully operational by spring 2015. The company's
first store in the state is located in Greenville and slated to
open in spring 2014.
The Fort Mill outlet will generate nearly 225 full-time,
part-time and temporary job opportunities.
The move reflects the company's strategic initiative to expand in
regions that have considerable growth potential. Moreover, the
company seeks to expand its store base to effectively penetrate
into its target markets and generate healthy sales.
Recently, Cabela's announced plans to open a 50,000 square foot
store in Moncton, New Brunswick, Canada in 2015 and a Cabela's
Outpost store in Bowling Green, KY. in the fall of 2014.
In the third quarter of 2013, Cabela's opened 4 next-generation
stores in Ashwaubenon, Wis.; Thornton, Colo.; Lone Tree, Colo.;
and Regina, Saskatchewan in Canada. Further, the company had
announced plans to open 1 outlet at Nanaimo in British Columbia,
Canada in late 2014 and 2 next-generation stores at Garner,
N.C. and Sun Prairie, Wis. in 2015.
At its last earnings call the company had also hinted that during
2014, the company plans to open 1 outpost store in the first
quarter; 4 domestic next-generation stores, 2 outpost stores and
1 next-generation store in Canada in the second quarter; and 4
domestic next-generation stores and 2 next-generation stores in
Canada in the third quarter.
Currently, Cabela's carries a Zacks Rank #3 (Hold). However, some
better-ranked retail stocks include
Barnes & Noble, Inc.
Tractor Supply Company
). All these have a Zacks Rank #2 (Buy).
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