Cabela’s eyeing options, may sell all or part of business
NEW YORK (AP) — Cabela’s may be seeking a buyer for all or some of the sports chain.
The retailer has been under pressure since late October when the investment firm Elliott Management bought a 6 percent stake and pushed for strategic changes from the company, like the potential sale of its credit card unit.
Shares of Cabela’s Inc. are down 11 percent this year, but they’ve risen more than 18 percent in the last month on speculation of a buyout.
Cabela’s said Wednesday that it’s looking at various alternatives.
CEO Tommy Millner said in a written statement that Cabela’s continues to honor its commitments and that the company remains focused on its business.