» CABELA’S, BASS PRO SHOPS MERGER: What’s going on now?
“Merchandise sales were challenging in the second quarter,” said Tommy Millner, Cabela’s Chief Executive Officer. “Since the fall election, we have continued to see a slowdown in firearms and shooting related categories. This slowdown was even more pronounced in the second quarter due to the impact of inventory liquidation by a major competitor who has filed for bankruptcy as well as the anniversary of a number of events from a year ago, including the Orlando tragedy in June of 2016. Additionally, similar to broader retail industry trends, we continued to experience softness in most hunting related categories.”
» RELATED: Bass Pro Shops is closer to officially buying Cabela’s
Net income also decreased almost 25 percent to $28 million compared to $38 million a year ago at the same time.
» RELATED: Centerville Cabela’s gives away guns on Black Friday
The merger between outdoor retailers Bass Pro Shops and Cabela’s is almost complete. Cabela’s shareholders approved the plans to combine Cabela’s with Bass Pro Shops in July — one of the last steps to finalizing the deal. “Other steps remain on our path to unite our two organizations and we will continue to keep our customers and team members updated as we move forward,” Bass Pro Shops officials announced.
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