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Cabela's Inc. Announces Plans for Store in Edmonton, Alberta, Canada

Cabela's expects to open the Edmonton store in fall of 2011. The 70,000-square-foot building will be located in the new Currents of Windermere shopping development on Windermere Boulevard, between Terwillegar Drive and Anthony Henday Drive. This store will be the second Cabela's location in Canada, joining the Winnipeg store, which was converted from the S.I.R. Warehouse Sports Store in May 2008.

Cabela's purchased S.I.R. in 2007 as a launching pad for the company's planned expansion into Canada. The S.I.R. facilities acquired through the purchase became the headquarters for Cabela's Canadian operations.

"We already have a growing, tremendously loyal customer base in Canada," said Cabela's Chief Executive Officer Tommy Millner. "Our acquisition of S.I.R. and the opening of our Winnipeg store really energized our base, so we're excited about building a store in Edmonton, which will make Cabela's even more accessible to the people of Canada, especially in Alberta."

The Edmonton building's exterior will reflect Cabela's traditional store model with log construction, stonework, wood siding and metal roofing. A large glass storefront will allow customers to view much of the store's interior as they approach the building.

The inside will highlight the company's next-generation layout, which is designed to immerse customers in the outdoor experience and includes conservation-themed wildlife displays, trophy animal mounts, a Gun Library and a Bargain Cave. The store will also feature special interactive displays unique to the World's Foremost Outfitter. Construction is expected to begin in September 2010.

Showcasing thousands of products, including hunting, fishing, camping, hiking, boating and wildlife-watching gear, as well as outdoor clothing and outdoor-themed gifts and furnishings, Cabela's is famous for its strong brand and world-renowned reputation for delivering quality merchandise, value and legendary customer service.

Cabela's typically attracts passionate outdoorsmen and women, who join the Cabela's family of employees known for their excellent customer service and detailed knowledge of outdoor products.

"We're looking forward to being a part of the Edmonton community and Canada's legendary culture of hunting, fishing and outdoor recreation," said Millner. "We expect to draw an exceptional local workforce made up of people who enthusiastically enjoy their sporting heritage and have expert knowledge of the outdoors."

About Cabela's Incorporated

Cabela's Incorporated, headquartered in Sidney, Nebraska, is a leading specialty retailer, and the world's largest direct marketer, of hunting, fishing, camping and related outdoor merchandise. Since the Company's founding in 1961, Cabela's has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the World's Foremost Outfitter. Through Cabela's growing number of retail stores and its well-established direct business, it offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. Cabela's also issues the Cabela's CLUB Visa credit card, which serves as its primary customer loyalty rewards program. Cabela's stock trades on the New York Stock Exchange under the symbol "CAB."

Caution Concerning Forward-Looking Statements

Statements in this press release that are not historical or current fact are "forward-looking statements" that are based on the Company's beliefs, assumptions and expectations of future events, taking into account the information currently available to the Company. Such forward-looking statements include, but are not limited to, the Company's statements regarding opening a retail store in Edmonton, Alberta, Canada, in fall of 2011. Forward-looking statements involve risks and uncertainties that may cause the Company's actual results, performance or financial condition to differ materially from the expectations of future results, performance or financial condition that the Company expresses or implies in any forward-looking statements. These risks and uncertainties include, but are not limited to: the level of discretionary consumer spending; the state of the economy, including increases in unemployment levels and bankruptcy filings; changes in the capital and credit markets or the availability of capital and credit; the Company's ability to comply with the financial covenants in its credit agreements; changes in consumer preferences and demographic trends; the Company's ability to successfully execute its multi-channel strategy; the ability to negotiate favorable purchase, lease and/or economic development arrangements for new retail store locations; expansion into new markets and market saturation due to new retail store openings; the rate of growth of general and administrative expenses associated with building a strengthened corporate infrastructure to support the Company's growth initiatives; increasing competition in the outdoor segment of the sporting goods industry; the cost of the Company's products; political or financial instability in countries where the goods the Company sells are manufactured; increases in postage rates or paper and printing costs; supply and delivery shortages or interruptions caused by system changes or other factors; adverse or unseasonal weather conditions; fluctuations in operating results; increased government regulation, including regulations relating to firearms and ammunition; inadequate protection of the Company's intellectual property; material security breaches of computer systems; the Company's ability to protect its brand and reputation; changes in accounting rules applicable to securitization transactions, including related increases in required regulatory capital; the Company's ability to manage credit, liquidity, interest rate, operational, legal and compliance risks; increasing competition for credit card products and reward programs; the Company's ability to increase credit card receivables while managing fraud, delinquencies and charge-offs; the Company's ability to securitize its credit card receivables at acceptable rates or access the deposits market at acceptable rates; decreased interchange fees as a result of credit card industry regulation and/or litigation; the impact of legislation, regulation and supervisory regulatory actions (including with respect to the compliance examination conducted by the Federal Deposit Insurance Corporation in the second quarter of 2009) in the financial services industry, including the Credit Card Accountability Responsibility and Disclosure Act of 2009, new and proposed regulations affecting securitizations and the recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act; other factors that the Company may not have currently identified or quantified; and other risks, relevant factors and uncertainties identified in the Company's filings with the SEC (including the information set forth in the "Risk Factors" section of the Company's Form 10-K for the fiscal year ended January 2, 2010, and in Part II, Item 1A, of the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended April 3, 2010), which filings are available at the Company's website at www.cabelas.com and the SEC's website at www.sec.gov. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. The Company's forward-looking statements speak only as of the date they are made. Other than as required by law, the Company undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

Cabela's Incorporated
Media:
Kristin Lauver, 308-255-1244
or
Investors:
Chris Gay, 308-255-2905