[Moncton] Retail Thread - Page 157

stephan.richard · #**3121** Posted **Nov 4, 2015, 1:58 PM**

Quote:

Originally Posted by MonctonRad

With a fierce competitor in town (BPS), it would only be natural for some employees to be nervous. It doesn't take much for a rumour to start, and once started it will spread like wildfire. I still consider the rumour to be baseless, but only time will tell. I'm sure this Christmas shopping season will be crucial, but I really think that it would be prudent to wait at least another year before making any hard decisions.

In brief, I'm sure Cabela's is safe for the short term, and likely even the medium term. Nobody can predict the long term however.

Thats what I thought I just wanted to have a firm updsate on this cause before i get in an argument at work I want the cold hard facts and thanks for the work guys.. I am happy that Cabela's is safe for a long time. And any update on Plaza 599?

BlackYear · #**3122** Posted **Nov 4, 2015, 2:48 PM**

Quote:

Originally Posted by micks5477

There is no known truth to this but interesting that when I was in Cabela's and asked an employee about the store closing, all they said was they did not know but that it was talked about among some employees.

I'm assuming all those employees fearing job losses are the new hires and not Cabela's core employees that may have been imported from the USA. With that said, they may not be familiar with the lifelong competition between the two stores.

I don't see either stores going anywhere anytime soon. A couple of layoffs from both stores once the dust settles maybe.

mctnguy · #**3123** Posted **Nov 4, 2015, 4:28 PM**

The new sportchek in the NorthWest Center has a note up saying they are opening Nov. 12th.

stephan.richard · #**3124** Posted **Nov 4, 2015, 8:40 PM**

Quote:

Originally Posted by mctnguy

The new sportchek in the NorthWest Center has a note up saying they are opening Nov. 12th.

This is cool news!! But any updates on plaza 599 and i drove near the Ultramar and they had it wrapped up for exterior and interior work. And at the future Irving site they were still doing some work on the site.

L'homard · #**3125** Posted **Nov 5, 2015, 6:37 PM**

Stunning news on the Cabela's/BPS war from the Reuters news service:

Privately held outdoors retailer Bass Pro Shops is exploring an offer for Cabela's Inc (CAB.N), the U.S. hunting and fishing store chain targeted by activist investor Elliott Management, people familiar with the matter said.

Bass Pro is working with an investment bank on the potential offer, the people said this week. Cabela's has recently begun to explore its options and has also reached out to private equity firms to solicit interest, the people added.

http://uk.reuters.com/article/2015/11/05/us-cabelas-m-a-basspro-idUKKCN0SU2JY20151105

MonctonRad · #**3126** Posted **Nov 5, 2015, 6:56 PM**

Wow, that's a blockbuster - didn't see that coming........

I wonder if this was the source of the recent speculation? Maybe someone at the Cabela's store got wind of this takeover attempt and started the rumour.......

Nashe · #**3127** Posted **Nov 5, 2015, 8:09 PM**

That... makes for some interesting thought experiments. If there IS a buy-out, there isn't much reason to keep both open, it's hard to deny, even if both are rather busy.
Aside from maybe brand loyalty (and there is a lot of that... Cabela's folks are die-hard).

Taeolas · #**3128** Posted **Nov 5, 2015, 8:22 PM**

That could be interesting for certain. How independent are the Canadian operations from the US ones?

I could see them doing a Future Shop/Best Buy duality for a few years maybe, which might work well for Moncton, but the sword of damocles will always be hanging overhead.

L'homard · #**3129** Posted **Nov 5, 2015, 8:28 PM**

I have to agree there would be no sense for two stores in this market, should this come to pass.
However, this will take some time to play out.
At least now I can guess why Cabela's stopped construction of their new Kanata, ON store after construction was already underway earlier this year.
I wouldn't be surprised to see this happen. If Cabela shareholders decide the offer for their shares is lucrative enough, then the big-wigs in Arkansas will have little recourse.
Interesting that their shares are dramatically going up today, ha ha! I should have bought in early!

icetea93 · #**3130** Posted **Nov 5, 2015, 9:36 PM**

I wonder if Cabelas will stick around for a bit after the one in Dartmouth opens (if it opens), and then close. I always thought it would make more sense in the small maritime market to have one of BPS or Cabelas in Moncton and the other in Halifax. Time will tell I guess!

MonctonRad · #**3131** Posted **Nov 6, 2015, 12:29 AM**

Well, I guess we know the origin of stephan's rumour now.

Presumably somebody at Cabela's heard about the potential BPS hostile takeover bid, said something to somebody else and off everyone went to the races......

What does this all mean?

1) - It's only a potential hostile takeover bid. Reuters says that BPS is working with an investment bank on financing a takeover bid. The financing is not yet in place and this might all fall through.
2) - Cabela's isn't going to roll over and play dead. The article also states that Cabela's are working with private equity firms to mount a potential defence to this possible bid, likely with a counter offer from a friendly "white knight"
3) - Cabela's shareholders are not guaranteed to sell their shares to BPS, although if the offer is good enough, they likely would.
4) - if BPS is successful, that doesn't necessarily mean that the Cabela's banner would disappear. There's considerable value in the Cabela's name and the brand loyalty that it inspires.
5) - I personally don't think the Cabela's chain will disappear, but what would happen here in Moncton? It's pretty rare for any community to have both stores, especially a city as small as Moncton. Does this mean that the Moncton Cabela's would close if the chain is bought out by BPS?
6) - BPS could choose to keep Cabela's open here too, especially if Cabela's branded goods remain separate and are not sold in BPS stores. What I said before might still hold true - under this scenario, having both stores in the same market might lead to synergy and enhanced retail tourism.
7) - Alternatively, BPS could keep the local Cabela's store open, but operating under the BPS banner and simply move some of their operations out to the new location. For example, they could move their boating section and ATV business to the Cabela's store to free up space in their main store for something else, like one of their signature restaurants.

There are lot's of possibilities here. Cabela's isn't dead yet, and may yet survive. Even if the merger goes through, that doesn't necessarily mean that the Cabela's store in Moncton will close. Only time will tell.

This will be a very interesting story to keep an eye on over the next year or so.

stephan.richard · #**3132** Posted **Nov 6, 2015, 5:19 AM**

Quote:

Originally Posted by icetea93

I wonder if Cabelas will stick around for a bit after the one in Dartmouth opens (if it opens), and then close. I always thought it would make more sense in the small maritime market to have one of BPS or Cabelas in Moncton and the other in Halifax. Time will tell I guess!

Right now this news is all speculation but I think that its to early to tell what will happen. But i think in Moncton we have room for the two and its not like they are attached together and its great to disperse the retail crowd between the Trinity/ Mapleton area and the Champlain mall area.

In the Trinity area I can forsee more development in that spot but first before they start with new construction lets make sure what is built up can be 100% leased.

But thats just wishfull thinking and any words of what might be going up in the new development near the Four Points and also any new word on when stuff will start popping up on the corner of TCH and Elmwood?

MonctonRad · #**3133** Posted **Nov 6, 2015, 12:28 PM**

Interesting article in the Financial Post

http://business.financialpost.com/news/r...anada-boosts-sales-on-soaring-web-visits

Apparently IKEA Canada has made a new expansion announcement. They plan to open an additional twelve new showroom stores in Canada by 2025. This is in addition to the 20 or so new "pick up point" locations that they announced earlier this year.

This is a direct quotation from the article:

Quote:

We are going to expand from coast to coast, in existing cities and into new cities

Now, unless IKEA is under the same misapprehension as some other businesses and thinks that Quebec City constitutes the "east coast", this would appear to mean that there will soon be a return of this retailer to the Maritimes.

What does this mean for us? I would expect that there is now a strong likelihood of a showroom store in Halifax. As for Moncton, I think the chances of at least a pick-up point location has taken a significant step forward. I don't imagine we would be seriously considered for a showroom store unless IKEA moves towards smaller format showroom stores. This apparently is a possibility as this is another direct quote from the article:

Quote:

Ikea Canada, which announced Thursday a 10.4 per cent jump in overall annual sales to $1.8 billion for the fiscal year ending Aug. 31, will expand into new store formats as well as existing store formats, but Sjöstrand did not elaborate on whether the new format stores would be significantly smaller than average. Ikea’s 12 stores average 323,000 square feet.

If IKEA were to consider, say, a 100,000 sq ft showroom store, I could see that as being appropriate for Moncton. In any event, there appear to be some interesting possibilities opening up as far as this iconic retailer is concerned........

One of our new forumers did mention recently that he had heard that IKEA had expressed interest in land on Harrisville Blvd. There's enough land out there for a smaller format showroom store. Hmmmmmm.......

bigrivernb · #**3134** Posted **Nov 8, 2015, 1:53 PM**

Quote:

Originally Posted by Scarface

I seen workers on the site today. They where possibly marking out the lot, and spaces for the entrances, and exits.

Also does anyone know what is being built Behind the Maritime Source for sports I seen equipment there, and they seem to be working hard today.

drove by today and noticed that the foundation footing in the ground seems large for a fast food restaurant. wonder if there is a possibility of a multi tenant building here to include a restaurant?

MonctonRad · #**3135** Posted **Nov 8, 2015, 4:08 PM**

Bass Pro Shops is in the process of setting up a very large "Santa's Wonderland" in the section of the store where they sell their boats. This should be a major attraction in the pre Christmas season.

stephan.richard · #**3136** Posted **Nov 8, 2015, 4:46 PM**

This morning NB Power was doing a massive amount of work at the new development at the corner of TCH and Elmwood does this mean that work might start next year there?

micks5477 · #**3137** Posted **Nov 8, 2015, 9:46 PM**

Quote:

Originally Posted by MonctonRad

Bass Pro Shops is in the process of setting up a very large "Santa's Wonderland" in the section of the store where they sell their boats. This should be a major attraction in the pre Christmas season.

They do that in their other stores and it looks amazing. It will easily be the best Santa Claus and Santa's Wonderland display Moncton has ever seen.

L'homard · #**3138** Posted **Nov 8, 2015, 10:07 PM**

It's true, as Micks says hey always make sure they have a Santa's Workshop that cannot be topped anywhere they set up shop. I'll be anxious to check it out! And not just because I have a long list to give him this year, either.

micks5477 · #**3139** Posted **Nov 10, 2015, 3:09 AM**

A new pizza restaurant Patricio's Pizza opened on Mountain Road in the old Domino's location. Not really sure it is a bright move to open across the street from Domino's

Good2go · #**3140** Posted **Nov 10, 2015, 3:39 AM**

Quote:

Originally Posted by micks5477

A new pizza restaurant Patricio's Pizza opened on Mountain Road in the old Domino's location. Not really sure it is a bright move to open across the street from Domino's

A lunch time pizza by the slice special? They'll make a fortune off the high schoolers.