Cabela's priced its IPO of 9.375 million shares at an estimated price between $15 and $17 per share. Under the proposed terms, the company will sell 6.25 million shares and selling stockholders will sell another 3.125 million shares. The underwriters, led by Credit Suisse First Boston and JP Morgan, will have the option to buy more than 1,406,250 shares from selling shareholders. It will be listed on the NYSE under the symbol CAB. The two major selling shareholders are JPMP Capital Corp. and McCarthy Group. JPMP will sell 1.4 million shares, but retains an 18.1% state in Cabela's. McCarthy will sell 1.6 million shares, but retains a 14.6% stake in the chain. The three founding members of the Cabela family will retain their 35.1 million shares, or 54.3% of the company.
Bass Pro Shops Selects Planalytics to Assist in Allocation, Pricing Seasonal Merchandise
Bass Pro Shops has signed an agreement to license Planalytics' Impact, the Internet-based application that generates customized forecasts of the effects of future weather on consumer demand by product, location, and time. Bass Pro Shops will employ the Impact forecasts of weather-driven demand and Planalytics advisory services to assist in the allocation and pricing of gloves, boots, outerwear and winter gear. "Our passion is serving our customers," stated Bass Pro Shops' VP/merchandising Ed Dinkins. "Planalytics will greatly enhance our customer service through improved planning of consumer demand."
Planalytics (www.planalytics.com) helps companies reduce risk and improve profitability by identifying and managing the impact of weather on their business. Planalytics uses a combination of historical and predictive analytics to help clients understand and effectively plan for weather-driven changes in supply, demand and pricing. Impact provides retailers and manufacturers with knowledge of how weather has and will influence their business. Impact measures the specific effect of future weather on consumer demand up to one year in advance in order to support more effective merchandise planning and forecasting, product distribution and allocation, and advertising and promotion timing.
Bass Pro Agrees To Anchor 28-Acre Development in Texas
Bass Pro Shops will open its third Texas store on the shores of Lake Ray Hubbard on I-30 in Garland. The outdoor store, which will anchor the new 28-acre Harbor Point Development, will include approximately 120,000-square-feet of retail selling space, plus a restaurant, boat super center and a marina. Opening date is tentatively planned for late 2005. "The citizens of Garland are excited about this development, as demonstrated by the results of last month’s bond election," said Garland Mayor Bob Day. "All of Garland will benefit from the location of a new hotel, shopping and restaurants that will be generated by Bass Pro for the Harbor Point development." The bond issue had been opposed by Academy Sports & Outdoors, which spent $28,000 in advertising to convince the voters of Garland.
Lowe Alpine Moves Sales & Marketing To New Hampshire
Lowe Alpine Systems will reorganize its American operations and relocate its brand management, sales and marketing functions to New Hampshire, effective August 1. These operations will be combined with those of Asolo USA. The move came as the final step in the consolidation process resulting from Lowe's acquisition by Italian footwear maker Asolo SpA. Fulfillment, customer service and accounting functions were combined last year. Bruce Franks and his Lebanon, NH-based team will manage US operations, working with the current Lowe Alpine sales force. Geoff O'Keeffe and Gareth Richards will leave the group July 31 and will assist with the reorganization in the interim. The two offices have been collaborating on the consolidation and expect the transition to follow seamlessly and on time.
O'Keeffe said, "Gareth and I, along with the larger Colorado team, embraced the not-insignificant task of revitalizing and revamping the Lowe Alpine brand and its operations these past few years. In retrospect we have come a long way and we look back satisfied we achieved our original goals. We both look forward to new challenges." Lowe Alpine and Asolo USA plan to combine their trade show efforts beginning with this August's Outdoor Retailer Summer Market, with both brands exhibiting within a newly designed booth. Beginning August 1, all sales and marketing communications should be directed to the Asolo/Lowe Alpine US headquarters in Lebanon at 1/877/888-8533.
Scott Carey has left Fila USA after a year as VP/sales. The new management team of Steve Wynne and Robert Erb want their own people in top jobs.
Rick Boucher, Avocet's VP/marketing and sales, recently left the company. Boucher held various marketing and sales management positions with Avocet over the past 15 years. Prior to that, Boucher held positions with adidas and Brooks. He plans to pursue other career opportunities in the sporting goods industry. He can be reached at [email protected]
The French Football Federation and adidas have extended their partnership agreement until 2010. The Federation currently holds the second place in the FIFA World Ranking and is the defending European Champion.
Foot Locker converted its $150 million outstanding subordinated notes to about 9.5 million new common shares. The new common shares have been issued, but the move will not affect its diluted EPS as they have already been included. Annual interest expense will decrease by $8 million after the conversion.
CCM kicks off the summer season with its Vector Promotion for hockey players across North America. The promotion runs from June 1 to July 31. With the purchase of selected CCM Vector skate models (Vector Pro, V7.0, Vector ZG130 and ZG120) CCM will send a V120 or V110 full composite stick for free. To support the Vector Promotion, CCM has embarked on a major print campaign across Canada and the US that will run in various hockey publications.
On May 20, Nike opened its first franchise in the Las Palmas, in the Canary Islands. The new storec has a selling area of 3,600 square feet and belongs to two Spanish companies. According to Nike Iberia, which already has five franchises in Spain and one in Portugal, Nike will not open any more until July. (Source: CMD Sport)