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BassPro/Cabelas & Sportsman's Deal OFF!!!

B

BytorJr

Two Star General
Full Member
Minuteman
Nov 28, 2018
5,451
8,133
Holy smokes and I for one am happy about this. I hope SW can maintain their business.

To our valued customers,

A year ago, Sportsman’s Warehouse entered into a merger agreement with Great American Outdoors, parent company of Cabela’s and Bass Pro Shops. Effective December 2, 2021, that merger agreement was terminated. We at Sportsman’s Warehouse are excited to continue operating as a separate, independent and publicly-traded company (NASDAQ: SPWH).

As we enter 2022, we look forward to continuing our strong growth – adding more stores, improving Sportsmans.com, and expanding our product assortment and services. Our mission to provide outstanding gear and exceptional service remains unchanged.

Gear up for unforgettable!
mail
Jon Barker
CEO
Sportsman’s Warehouse
 
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Hallelujah.
I was not looking forward to Sportsman's Warehouse following Cabela's in going down the drain.
 
TheGerman said:
I mean I guess, yay, but Sportsman's is the exact same overpriced China shit clothing store parading around as an outdoor retailer that Cabelas and Bass pro are.
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For tackle and ammo I think they're cheaper. But for clothes, yes, same stuff as Cabelas/BPS; but generally cheaper. "Consumer grade" clothing I guess; for sure most likely isn't going to last a lifetime of hunting like Dad's old Redheads from the 50s.
 
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I think it's good. Consolidation is bad for consumers. And the bigger the company, the more susceptible to becoming "woke" they are.

I do find it interesting that the CEO makes no mention of why the merger was canceled. We'd like to think it was for some noble reason, more likely is that his golden parachute buyout offer was a few million $$$ light.
 
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Having worked at Cabela's just prior to the merger and seeing the store now while talking to friends who still work there I can say this is a good thing for SW employees and us the consumer. It's doubtful that prices will ever drop to pre panic prices but at least there will still be some competition to drive sale pricing down a little bit. Here's hoping SW can stay the course.
 
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I was in Cabellas for the first time in a few years just prior to Christmas. The quality of the clothing I looked at appears to be no where close to what it used to be.
 
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jinxx4ever said:
Cabelas killed themselves
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In as much as the board is the company, and agreed to the merger, yes Cabelas did it to themselves. That said, Cabelas was a better store than BP before the merger, and was just a better store in general. Now, they’re just another BP with a different name. Redhead gear sucks compared to pre-merger Cabelas branded gear- at least soft goods. The Cabelas return policy was head smd shoulders more forgiving. The Bargain Cave was a great concept that just doesn’t exist anymore. There are more reasons, but these are a few off the top of my head.

I always saw SW as the wish.com Cabelas. Maybe that’s not fair, but that’s how the store struck me. The only one I’ve ever been in closed, if I am not mistaken.
 
hlee said:
In as much as the board is the company, and agreed to the merger, yes Cabelas did it to themselves. That said, Cabelas was a better store than BP before the merger, and was just a better store in general. Now, they’re just another BP with a different name. Redhead gear sucks compared to pre-merger Cabelas branded gear- at least soft goods. The Cabelas return policy was head smd shoulders more forgiving. The Bargain Cave was a great concept that just doesn’t exist anymore. There are more reasons, but these are a few off the top of my head.

I always saw SW as the wish.com Cabelas. Maybe that’s not fair, but that’s how the store struck me. The only one I’ve ever been in closed, if I am not mistaken.
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much of what u say is true, but much of that was their downfall. They're return policy was plain stupid and plenty took advantage of it. Their clothing was much better than BP, but it was expensive. I was fortunate to have a brother who's wife worked there, and the discount employee's received was "huge". The mark up on goods was over the top. I had him pick me up a chair for my deer blind one time, retail was $100, his cost $30.
 
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Cabelas was draining the circle long before the BP acquisitions. The only reason they bought them was for the Cabelas Card, at the time the 4th largest private card in the world.

Cabelas has been shitty for about 10-15 years. Most of their cabelas branded stuff that was once really good became cheap imports. They did away with bargain cave in lots of stores. The gun library was the only reason to even shop there, other than the card that gave like 2% cash back in gift cards.

I know a guy who put all 4 of his daughters through college and used his Cabelas card to pay for it. It bought him a bass boat one year just in gift cards.

As bad as they were, BP was worse. They should have never sold and the gov should have stepped in due to antitrust and blocked the merger.
 
Last time I went into Cabela's (5ish years ago) there was a big Carhartt sign off to the right. I walked over to check what they had, and underneath the sign was a bunch of off brand shit that "looked" just like Carhartt stuff.

Fortunately, SW was closer, and had a good selection of shootin stuff.
 
DeathBeforeDismount said:
Cabelas was draining the circle long before the BP acquisitions. The only reason they bought them was for the Cabelas Card, at the time the 4th largest private card in the world.

Cabelas has been shitty for about 10-15 years. Most of their cabelas branded stuff that was once really good became cheap imports. They did away with bargain cave in lots of stores. The gun library was the only reason to even shop there, other than the card that gave like 2% cash back in gift cards.

I know a guy who put all 4 of his daughters through college and used his Cabelas card to pay for it. It bought him a bass boat one year just in gift cards.

As bad as they were, BP was worse. They should have never sold and the gov should have stepped in due to antitrust and blocked the merger.
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Last time I had a regular Cabela's next to me was in 2006 when I lived in TX. Then they started massive expansion and soon afterwards their stuff became shit. I used Redhead as an example because I think I still have Dad's from the 50s...used to be good stuff many, many years ago (maybe I should add a few more many's).

I saw SW as a place, again in 2006 when I first ran across them, as a place that was primarily shooting and fishing with some acceptable clothing even if not Filson grade. Like everything...cheap and disposable clothing has taken over. Heck, I saw a nice sport coat at some store...made in China (completely disinterested at that point). But, some dude will wear it 4-5 times and dish it. Men's dress clothing is becoming more and more like women's...wear it 4-5 times and it's done for or out of style - disgusting.
 
SW is a long way from perfect also. i emailed them to add a local ffl for shipping guns to. they said 'no' because they already had another ffl in their database near me. i replied that the one i wanted had better hours, better service and better transfer prices and they basically said to pound sand. i mean how hard is it to add a ffl and do what your customer wants? atf has an easy registry to access, not like it's easy to scam in an ffl.
 
davsco said:
SW is a long way from perfect also. i emailed them to add a local ffl for shipping guns to. they said 'no' because they already had another ffl in their database near me. i replied that the one i wanted had better hours, better service and better transfer prices and they basically said to pound sand. i mean how hard is it to add a ffl and do what your customer wants? atf has an easy registry to access, not like it's easy to scam in an ffl.
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Gun sales are barely worth it when the customer walks into your own store…
 
Arc Light said:
I think it's good. Consolidation is bad for consumers. And the bigger the company, the more susceptible to becoming "woke" they are.

I do find it interesting that the CEO makes no mention of why the merger was canceled. We'd like to think it was for some noble reason, more likely is that his golden parachute buyout offer was a few million $$$ light.
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I read the letter and Form 8-K, due to the cancellation Sportsmans gets $55 million from BP/Cabelas and from what I gather the government /FTC in discussions made it appear as they would not approve the merger because of market share, monopolization, etc. So there was no point in moving forward.

"The decision to terminate the merger agreement follows feedback from the Federal Trade Commission that led the parties to believe that they would not have obtained FTC clearance to consummate the merger. Under the termination agreement, great outdoors group agreed to pay the company the parent termination fee as defined in the merger agreement of 55 million by wire transfer of immediately available funds concurrently with the execution of the termination agreement."
 
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Thank God! I walked into a sportsman's about 6 months ago and the corrosion had already begun. I went through the entire store and didn't see a single reason to come back. I hope they recover because it's always been a good store.
 
hlee said:
BP killed Cabelas.
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Absolutely did....they are a pox on any actually good sports stores.

Used to love Cabelas stuff...have a closet full of it. Stuff they carry under their brand now is just shit Chinese Bass Pro Red Head utter crap.
 
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