This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Cabela’s Inc. Announces Passing Of Richard N. Cabela, Co-Founder And Chairman Emeritus

Stocks in this article: CAB

Cabela's Incorporated (NYSE:CAB) announced that Richard N. Cabela, Co-Founder and Chairman Emeritus, passed away today at his home in Sidney. He was 77.

Dick, along with his wife, Mary, and brother, Jim, founded Cabela’s somewhat inadvertently in 1961 when he purchased $45 worth of hand-tied fishing flies while in Chicago on a furniture and housewares buying trip with his father for the family’s Chappell, Neb., furniture store. With the flies not moving off the store shelf, Dick came upon the idea of selling them through the mail. His first ad, in a Casper, Wyo., newspaper, produced one sale. Rethinking his situation, Dick placed an ad in Sports Afield magazine: “FREE introductory offer!!! 5 popular Grade A hand-tied flies. Send 25c for postage and handling …” Orders started coming in and Mary typed the names and addresses of each customer on recipe cards and placed them in a shoebox. Realizing the potential for mail-order sales, Dick purchased more fishing gear and he and Mary produced a three-page mimeographed catalog which was mailed with each order.

Today, Cabela’s is a $3.6 billion company with a worldwide catalog and Internet business and 50 stores in the United States and Canada.

Dick served as Chairman of the Board until June 2013, when he transitioned to Chairman Emeritus and Jim Cabela became Chairman.

“Dick and Jim made it possible for sportsmen and women to get quality outdoor products no matter where they lived,” said Tommy Millner, Cabela’s Chief Executive Officer. “They weren’t the first to offer outdoor goods through the mail, but nobody did it better or with more care about providing customers a good value for their money.

“Outdoorsmen and women have lost a true friend, a man who improved their lot by putting them first, by working to provide what they wanted and needed for their hunting and fishing adventures. He pushed for research and development in every outdoor field. Dick always looked out for the customer and if he couldn’t find a vendor to provide what he wanted, he pushed Cabela’s to design and make it. Because of that passion, the Cabela's brand and its products are iconic throughout the world.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs