The company now has 41 stores, having added six new locations last year. While that's still not a great number of stores given the size of the U.S., there's also a catalog business which generated 33.5% of total revenue during 2012. The company plans to open 12 additional locations by the end of 2014.
The stock has come a long way. In 2009, shares traded for less than $6 and now represent the much coveted "ten bagger." Year to date, the stock is up 45%. Shares currently trade for about 16.5 times 2014 consensus estimates.
There's little doubt that
Started in the kitchen of one of the company's founders, Cabela's is a true American success story. It's also proved to be a great lesson in investing.At the time of publication the author held no positions in any of the stocks mentioned. Follow @JonMHellerCFA This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.