Cabela's Incorporated said it plans to open stores in Scarborough, Maine, and Rapid City, South Dakota, in 2008. Stores scheduled to open in 2009 are Billings, Montana, and East Rutherford, New Jersey.
The announcement followed the company's disclosure last week that it failed to meet its fourth-quarter earnings targets. The company reported that it was slashing capital spending by 70 percent after its same stores sales fell 5.9% in the fourth quarter.
“Cabela's is confirming today that we will be proceeding with store openings in Scarborough and Rapid City this year,” Cabela's President and CEO Dennis Highby said late Friday. “Additionally, we look forward to opening a store in Billings and a store in the Meadowlands Xanadu complex in East Rutherford in 2009.”
