Cabela's May Sell All Or Part Of Business
Follow CBSDFW.COM: Facebook | Twitter
NEW YORK (CBSDFW/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.
Cabela's has five stores in Texas and one scheduled to open in League City in the spring of 2016.
(©2015 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
