NOVEMBER 8, 2019 — SURPRISE MOVE FROM SIDNEY, NEBRASKA TO SPRINGFIELD, MISSOURI
Bass Pro Shops announced it will move nearly 120 jobs from its Cabela’s Sidney location to its corporate headquarters in Springfield, Missouri starting in 2020.
According to a company spokesperson, “The company fully appreciates the importance of the fine people of Cabela’s to the town of Sidney and the surrounding area,., Bass Pro Shops united with Cabela’s in 2017 in an effort to strengthen and grow the iconic Cabela’s brand, which was facing significant financial headwinds.
“The united company has relied upon talent and leadership from both entities to strengthen the organization and better serve its customers. The relocations are consistent with the company’s long-term commitment to efficiently provide the highest level of customer service.”
DECEMBER 6, 2018 — SIDNEY CITY OFFICIALS ACKNOWLEDGE THE LOSS.
“With the estimated 1,500 corporate jobs lost from Cabela’s in Sidney, it made a huge impact on the city.”
“‘We have seen a huge impact with the loss of jobs and the relocation of jobs from Cabela’s to Bass Pro Corporate Office in Springfield, Missouri,’ said Melissa Norgard, Economic Development Director for City of Sidney.”
Original post…
There is more at stake than the jobs at Cabela’s, the future of Sidney, Nebraska is also at risk. Cabela’s, a specialty retailer of outdoor sports gear, was purchased by their largest competitor, Bass Pro Shops, for $5.5 BILLION and there are bound to be numerous layoffs as the company’s duplicative core functions are either eliminated or moved to Springfield, Missouri the home of Bass Pro Shops. The acquisition comes as no surprise and there were approximately 70 people laid off in March 2017. The most secure jobs are probably the lower-end retail employees who know the business and can keep the doors open. Both companies have a similar founding story and company culture. Unfortunately, we are seeing contractions in retail, especially in lifestyle merchandise. The company’s prime demographic is aging and the industry is being decimated by e-tailers without the heavy investment in brick, mortar, and employees.
While Bass Pro Shops is not a public company and is therefore immune from Wall Street-type pressures, it appears that the public Cabela’s was forced into the deal by hedge fund Elliott Management which held a significant stake in the company with options to buy even more equity. According to published reports, Elliot demanded restructuring, cost-cutting, and then finally suggested a sale. Then there was both public (outside agitators) and minority investor pressure on Cabela’s to eliminate its lucrative sales of high-power semi-automatic hunting weapons. All leading to this acquisition.
I had previously purchased a number of items from Cabela’s over the years and found the merchandise selection, quality, and customer service to be superb. Like Kerr’s Sporting Goods, the original Abercrombie and Fitch, L.L. Bean, Cabela’s will be missed.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?