Cabela's to Begin Construction on Store in Scarborough, Maine.Construction to begin this week; scheduled to open spring of 2008 SIDNEY, Neb. -- Cabela's Incorporated (NYSE NYSE See: New York Stock Exchange : CAB), the World's Foremost Outfitter([R]) of hunting, fishing and outdoor gear, announced today it is moving forward with plans to build one of its popular destination retail stores in Scarborough, Maine Scarborough is a town in Cumberland County on the southern coast of Maine. It is located about 7 miles (10 km) south of Portland. Since 1969, the town has had a Council-manager government. , within the Gateway at Scarborough development. To commemorate the event, a special groundbreaking ceremony will be held at the site on Tuesday, July 17, 2007 at 10 a.m. Noted speakers and attendees will include (in speaking order) Gene Beaudoin, Partner, FELDCO Development Corp.; John Richardson The name John Richardson can refer to:
The 130,000-square-foot Cabela's store will be the retail anchor for the Gateway at Scarborough, a major mixed-use development Mixed-use development refers to the practice of allowing more than one type of use in a building or set of buildings. In planning zone terms, this can mean some combination of residential, commercial, industrial, office, institutional, or other land uses. that will include 438,000 square feet of retail, commercial and office space. The development is located on the Haigis Parkway at Exit 42 of the Maine Turnpike The Maine Turnpike runs from Kittery to Augusta and is a toll road for all of its length except for a short section in Kittery and York. As of January 2004, it is signed entirely as Interstate 95. , and recently received final approval from the Scarborough Planning Board Noun 1. planning board - a board appointed to advise the chief administrator advisory board governance, governing body, organisation, administration, brass, establishment, organization - the persons (or committees or departments etc. . Construction on the retail store is scheduled to begin this week and the store is expected to open for business by spring of 2008. "We are extremely pleased to announce we can move forward with this project," said Dennis Highby, Cabela's President and Chief Executive Officer. "The Town Council, Planning Board and other town officials have been very supportive during this process, and we especially appreciate the support received from local residents and the Scarborough Economic Development Corporation. We look forward to bringing the Cabela's retail store experience to the thousands of loyal Cabela's customers in the region." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. developer Gene Beaudoin, the Gateway at Scarborough has already received necessary approvals from the Maine Department of Transportation The Maine Department of Transportation, also known as MaineDOT, is the bureaucratic office of the state government charged with the regulation and maintenance of roads and other public infrastructure in the state of Maine. , the Department of Environmental Protection and the Maine Turnpike Authority. "The Scarborough Cabela's store is expected to attract several million visitors a year, drawing outdoor enthusiasts and their families from across the Northeast and Canada," said Beaudoin. "It is estimated that the entire Gateway at Scarborough project will generate more than $100 million in annual retail sales and provide about 800 full and/or part-time job opportunities." In addition to Cabela's, the Gateway at Scarborough will include approximately 68,600 square feet of complimentary retail space, three 6,000 square foot restaurant facilities, a 4,000 square foot full-service banking facility, a 200-room hotel and approximately 80,000 square feet of professional office space. When completed, the entire project will consist of approximately 11 separate buildings, all in a harmonious architectural design This article or section may contain original research or unverified claims. Please help Wikipedia by adding references. See the for details. This article has been tagged since September 2007. and integrated with a network of roads, pedestrian walkways and landscape features including ponds and fountains. "The Gateway at Scarborough will be the catalyst for drawing new businesses to the area, helping our existing businesses grow, and creating new property tax revenue for our town," said Harvey Rosenfeld, president of the Scarborough Economic Development Corporation, which has worked closely with the developer throughout the site location and permitting process. "This project is what good economic development is all about. It is a win-win for everyone." To operate the new store, Cabela's expects to employ as many as 250 people from Scarborough and the surrounding area who will join the Cabela's family of employees famous for their excellent customer service, outdoor lifestyle and detailed knowledge of outdoor products. Product offerings will include hunting, fishing, camping, hiking, boating and wildlife watching gear, as well as outdoor clothing and outdoor-themed gifts and furnishings. Cabela's currently operates 19 retail locations and plans to open seven additional new stores in 2007, including Gonzales, La.; Hoffman Estates Hoffman Estates A village of northeast Illinois, a suburb of Chicago. Population: 49,700. , Ill.; East Hartford East Hartford, urban town (1990 pop. 50,452), Hartford co., central Conn., on the Connecticut River opposite Hartford; settled c.1640, inc. 1783. East Hartford is a trucking and warehousing center, with bulk oil storage and distribution. , Conn.; Hammond, Ind.; Reno, Nev.; Post Falls, Idaho Post Falls is a city in Kootenai County, Idaho, United States near the Idaho state line between Spokane, Washington, and Coeur d'Alene, Idaho. The population was 17,247 at the 2000 census, but now as of 2006 it has 24,420 citizens. ; and Lacey, Wash. The Scarborough store will be built in Cabela's trademark style that captures the look and feel of the great outdoors. Cabela's stores are known as top-notch educational and entertainment attractions, mixing museum-quality animal displays, aquariums stocked with Adj. 1. stocked with - furnished with more than enough; "rivers well stocked with fish"; "a well-stocked store" stocked furnished, equipped - provided with whatever is necessary for a purpose (as furniture or equipment or authority); "a furnished apartment"; native fish and a centerpiece indoor mountain displaying trophy animals in realistic re-creations of their natural habitats. Innovatively designed and showcasing thousands of products from Cabela's world-famous catalogs, Cabela's stores are known as top shopping and tourism destinations, drawing customers not only from the local area, but also from hundreds of miles away. Many traveling outdoor enthusiasts are attracted by the familiar Cabela's script logo and the company's world-famous reputation for quality merchandise, value and extraordinary customer service. Features of the Scarborough Cabela's store will include: * A towering mountain replica, the centerpiece of the store's open showroom, with trophy animals in re-creations of their distinct habitats. Similar mountains, each called Conservation Mountain, have been built in other Cabela's stores as monuments to wildlife and salutes to the sportsmen and women who support wildlife conservation. * A freshwater aquarium A freshwater aquarium is a receptacle that holds a single or a collection of freshwater aquatic organisms, plants and animals for decorative, pet-keeping or research purposes. stocked with fish native to the area. * Museum-quality representations of many wild-game species. * A World-class Gun Library, providing gun collectors and aficionados the opportunity to browse through a collection of fine examples of the gun-making art. * An Indoor archery archery, sport of shooting with bow and arrow, an important military and hunting skill before the introduction of gunpowder. England's Charles II fostered archery as sport, establishing in 1673 the world's oldest continuous archery tournament, the Ancient Scorton range where archers can test and fine-tune their equipment. * A Bargain Cave, featuring discount prices on returned and discontinued merchandise. * An atrium interior with authentic fieldstone field·stone n. A stone occurring naturally in fields, often used as a building material. Noun 1. fieldstone - stone that occurs naturally in fields; often used as building material accents and wood furnishings. About Cabela's Incorporated Cabela's Incorporated, headquartered in Sidney, Nebraska Sidney is a city in Cheyenne County, Nebraska, United States. The population was 6,282 at the 2000 census. It is the county seat of Cheyenne CountyGR6. Geography Sidney is located at (41.139428, -102. , is the world's largest direct marketer, and a leading specialty retailer, of hunting, fishing, camping and related outdoor merchandise. Since the Company's founding in 1961, Cabela's([R]) has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the World's Foremost Outfitter([R]). Through Cabela's well-established direct business and its growing number of destination retail stores, it offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. Cabela's also issues the Cabela's CLUB([R]) Visa credit card, which serves as its primary customer loyalty rewards program. Caution Concerning Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Statements in this press release that are not historical or current fact are "forward-looking statements" that are based on the Company's beliefs, assumptions and expectations of future events, taking into account the information currently available to the Company. Such forward-looking statements include, but are not limited to, the Company's statements regarding the construction and anticipated opening date of a destination retail store in Scarborough, Maine, and the Company's plans to open seven additional new stores in 2007. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from the expectations of future results that the Company expresses or implies in any forward-looking statements. These risks and uncertainties include, but are not limited to: the ability to negotiate favorable purchase, lease, and/or economic development arrangements for new destination retail store locations; increasing competition in the outdoor segment of the sporting goods Noun 1. sporting goods - sports equipment sold as a commodity commodity, trade good, good - articles of commerce sports equipment - equipment needed to participate in a particular sport industry; supply and delivery shortages or interruptions; delays in traffic planning and/or road construction around new destination retail stores; the ability to secure required governmental permits and approvals, adverse weather conditions; adverse economic conditions causing a decline in discretionary consumer spending Consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level. ; labor shortages A Labor shortage is an economic condition in which there are insufficient qualified candidates (employees) to fill the market-place demands for employment at any price. This condition is sometimes referred to by Economists as "an insufficiency in the labor force. or increased labor costs; the acceleration of new destination retail store openings; the cost of fuel increasing; increased government regulation; other factors that the Company may not have currently identified or quantified; and other risks, relevant factors and uncertainties identified in the Company's filings with the SEC (including the information set forth in the "Risk Factors" section of the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 30, 2006), which filings are available at the Company's website at www.cabelas.com and the SEC's website at www.sec.gov. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. The Company's forward-looking statements speak only as of the date they are made. Other than as required by law, the Company undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. |
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