2015 Analyst/Investor Day

Sidney, NE
Wednesday, March 4th, 2015
1
 Welcome
Chris Gay
Director, Investor Relations and Treasury

2
 Agenda
Welcome - Chris Gay, Director of Investor Relations & Treasury 7:30 7:40 a.m.
Introduction - Tommy Millner, Chief Executive Officer 7:40 8:00 a.m.
Cabela's CLUB Visa - Sean Baker, EVP, and President and CEO of WFB 8:00 -8:30 a.m.
Retail Expansion Update - Ralph Castner, EVP and CFO 8:30 9:00 a.m.
Talent and IT Security - Charles Baldwin, EVP and Chief Admin. Officer 9:00-9:30 a.m.
Supply Chain and Logistics - Doug Means, Chief Supply Chain Officer 9:30 -10:00 a.m.
Break 10:00 10:05 a.m.
Retail Operations - Michael Copeland, EVP and Chief Operations Officer 10:05 10:35 a.m.
Marketing/Omni Channel Growth - Scott Williams, EVP and Chief Marketing and E-Commerce Officer 10:35 11:20 a.m.
Merchandise Performance and Innovation - Brian Linneman, EVP and Merchandising Officer 11:20 - 12:15 p.m.
Wrap-up 12:15 12:45 p.m.
Lunch - WLM Experience 12:45 2:00 p.m.

3
 Forward Looking Statements
This presentation includes forward-looking statements that are based on the Companys beliefs, assumptions, and expectations of future events, taking into account the information currently
available to the Company. All statements other than statements of current or historical fact contained in this presentation are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act. The words believe, may, should, anticipate, estimate, expect, intend, objective, seek, plan, and similar statements are intended to identify
forward-looking statements. 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 state of the economy and the level of discretionary consumer spending, including changes in consumer preferences, demand for firearms and ammunition, and
demographic trends; adverse changes in the capital and credit markets or the availability of capital and credit; the Company's ability to successfully execute its omni-channel strategy; increasing
competition in the outdoor sporting goods industry and for credit card products and reward programs; the cost of the Company's products, including increases in fuel prices; the availability of the
Company's products due to political or financial instability in countries where the goods the Company sells are manufactured; supply and delivery shortages or interruptions, and other
interruptions or disruptions to the Company's systems, processes, or controls, caused by system changes or other factors; increased or adverse government regulations, including regulations
relating to firearms and ammunition; the Company's ability to protect its brand, intellectual property, and reputation; the Company's ability to prevent cybersecurity breaches and mitigate
cybersecurity risks; the outcome of litigation, administrative, and/or regulatory matters (including a Commissioner's charge the Company received from the Chair of the U. S. Equal Employment
Opportunity Commission in January 2011, audits by tax authorities, and compliance examinations by the Federal Deposit Insurance Corporation); the Company's ability to manage credit, liquidity,
interest rate, operational, legal, regulatory capital, and compliance risks; the Company's ability to increase credit card receivables while managing credit quality; the Company's ability to securitize
its credit card receivables at acceptable rates or access the deposits market at acceptable rates; the impact of legislation, regulation, and supervisory regulatory actions in the financial services
industry; 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 December 27, 2014), 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.

This presentation also includes certain non-GAAP financial measures. Reconciliations of these measurements to GAAP are provided on the Investor Relations section of the Companys website or
in the Companys filings with the SEC, which filings are available at the Companys website at www.cabelas.com and the SECs website at www.sec.gov.

4
 Introduction
Tommy Millner
Chief Executive Officer

5
Welcome

6
Today is About the Future

7
 Today is About How we Get to
Driving market share growth profitably
Revenue growth at a low double-digit rate
Positive low single-digit comps
Improvements in Direct revenue performance
10-30 bps of operating margin expansion
Earnings Per Share growth at a low to mid-double digit rate

In 2016-2018
8
 Cabelas CLUB Visa
Sean Baker
EVP and President and Chief Executive Officer of Worlds Foremost Bank

9
 CLUB Overview
Consistent Success And Best-In-Class Performance

Growth Opportunities

2015 Initiatives

10
Consistent Success And Best-In-Class Performance

11
Consistent Success And Best-In-Class Performance
Active Accounts

12
Consistent Success And Best-In-Class Performance
Balance per Active Account

13
Consistent Success And Best-In-Class Performance
Average Outstandings

14
Consistent Success And Best-In-Class Performance
2.0%
Total Delinquency

1.5%

1.0%

0.5%

Charge-offs
6.0%

5.0%

4.0%

3.0%

2.0%

1.0%

15
Growth Opportunities

16
Growth Opportunities

17
Growth Opportunities

Fiscal Year 2014

18
Growth Opportunities
$797
$800

$700
$643
$600
$540
$500
$431
$400 $378
$333
$300 $286
$235
$200 $169
$111
$100
$46
$-
1 2 3 4 5 6 7 8 9 10 11
Number of Years Since Retail Store Opening
Outstanding CLUB card receivables per square foot of retail space based on store where account was originated
19
 Growth Opportunities
Greater than 5% of accounts, or over 100,000 accounts per state
2%-5% of accounts, or between 39,000-100,000 accounts per
state
Less than 2% of accounts, or less than 39,000 accounts per state

Portfolio
Stratification By
Geographic
Distribution

Existing Stores
Announced Stores

20
2015 Initiatives

21
 2015 Initiatives

Cardholder Fraud And Security

Enhance technology tools

Consider mass reissue strategies as needed

Deploy chip cards

22
 2015 Initiatives

Monitor Mobile Payments

Monitor adoption and environment

Fast Follow strategy

Enable CLUB card in Apple Pay

23
 2015 Initiatives

Commitment To Cardholders & Outfitters

Adapt structure for growth

Attract new, experienced Outfitters

Invest in our Outfitters

24
 Final Summary - Key Highlights
Consistent double-digit portfolio growth
New accounts
Average balance

Consistent best-in-class delinquency and loss rates

Portfolio growth not dependent on new store expansion

Longer growth potential with retail expansion, specifically in the Southeast

2015 focus
Improving cardholder experience and security
Invest in Outfitters for growth

25
Questions?

26
Update on Retail Expansion Strategy
Ralph Castner
EVP and Chief Financial Officer

27
Update on Retail Expansion Strategy

Accomplishments

Report Card

Opportunities

28
Accomplishments

29
 Update on Retail Expansion Strategy
Accomplishments

Today we have 64 stores open across U.S. and Canada

We are on pace to open 13 stores in 2015 which are all on track

We have announced or identified 11 stores for 2016 and have

identified 6 stores for 2017
30
 Update on Retail Expansion Strategy
Accomplishments
2015 Store Opening Schedule
Location Sq.Ft. Date Location Sq.Ft. Date
Domestic (11 Stores) Domestic (Cont.)
Fort Mill, SC 90k March 2015 West Chester, OH 70k August 2015
Berlin, MA 90k March 2015 Oklahoma City, OK 70k Sept. 2015
Garner, NC 90k April 2015 Huntsville, AL 70k Sept. 2015
Sun Prairie, WI 90k April 2015 Bristol, VA 70k October 2015
Fort Oglethorpe, GA 70k May 2015 Canada (2 Stores)
Ammon, ID 40k May 2015 Moncton, NB 50k May 2015
Noblesville, IN 70k August 2015 Calgary, AB 70k October 2015

31
 Update on Retail Expansion Strategy
2016 2017
Location Sq.Ft. Date Location Sq.Ft. Date
Domestic (12 Stores) Domestic (12 Stores)
League City, TX 70k Spring 2016 6 Stores Identified/Unannounced
Woodbury, NY 93k Spring 2016 Canada (2 Stores)
Short Pump, VA 82k Spring 2016
Lexington, KY 70k Spring 2016
Centerville, OH 70k Spring 2016
4 Stores - Identified/Unannounced
Canada (2 Stores)
Ottawa, Ontario 70k Spring 2016
1 Store - Identified/Unannounced

32
Report Card

33
 Update on Retail Expansion Strategy
Report Card
New Store Performance
FY 2014 Sales/Sq. Ft. FY 2014 Profit/Sq. Ft.
500 80 $77
$449 75
450 70
65
400
60
55
350
$313 50 $48
300 45
40
250 35
Legacy (28 Stores) Next-Gen (18 Stores) Legacy (28 Stores) Next-Gen (18 Stores)

34
 Update on Retail Expansion Strategy
Report Card
Next Generation Store Expectations
($ millions excluding Sq. Ft. data) Year 1 Year 2 Year 3
Store Size 80,000
Sales per Sq. Ft. $ 450.0

Revenue $ 36.0 $ 36.9 $ 37.8

% growth 2.5% 2.5%

Four-wall EBITDA Margin(1) $ 7.2 $ 7.4 $ 7.6

% margin 20.0% 20.0% 20.0%

Four-wall Return on Gross Investment 31.0% 31.8% 32.6%

IRR 12.6%
Capital Expenditures $20-24 Million
(1) Depreciation and Amortization equals approximately 3% of sales 35
Update on Retail Expansion Strategy
Report Card
Key Metrics

2014 Actual
Expectations Performance
Store Size (Sq. Ft.) 80,000
Sales/Sq. Ft. $450 $449
Four Wall EBITDA Margin 20.0% 19.7%
Four Wall Operating Margin 16.2% 17.0%
Corporate Overhead 9.6% 7.7%
Fully Loaded Operating Margin 6.6% 9.3%

36
Opportunities

37
 Update on Retail Expansion Strategy
Opportunities

U.S. Canada Total

Open at end of 2014 57 7 64

Planned for 2015 11 2 13

Identified/Announced for 15 2 17
2016 & 2017
Future Opportunity 117 14 131

Total Potential 200 25 225

38
 Update on Retail Expansion Strategy
Opportunities
Store Growth

2015 2016E 2017E 2018E

New Format 11 12 12 12
Canada 2 2 2 2
Sq. Footage 950-1,1050 925-1,050 925-1,050 925-1,050
(Amounts in Thousands)

39
Update on Retail Expansion Strategy
Opportunities
Expected Square Footage Growth
20%
18% 17%

16% 14-16%
15%
14%
11-13%
12% 10-12%
9-11%
10%
8%
6%
4%
2%
0%
2013 2014 2015E 2016E 2017E 2018E
40
Questions?

41
Talent and IT Security
Charles Baldwin
EVP and Chief Administrative Officer

42
 Agenda
Recruiting/Brand
Talent Development
Diversity
Engagement
Security/IT
People
Process
Preparation
43
 Strength of Our Brand

2,236,000 147,957 15,916

Career Site Hits Applicants Job Postings

25,347
LinkedIn Followers 44
 Developmental Resources

Retail Manager In Training

Program (MIT)

45
Development
Nine Box Achieves above target Achieves above target
results with effective results and demonstrates
Talent Matrix leadership behaviors strong execution of the
leadership competencies

Above Target

3 1
Performance

5 Achieves on target results

and demonstrates strong
execution of the leadership
competencies

On Target

2
2
7 4 4

Below Target

9 8 6
Needs Development Effective Leader Strong Leader

Leadership Competencies
Behavior and potential measured by execution of Cabelas Leadership Competencies 46
Development

High Potential
High Potential Employee (HIPO):
A high-potential employee is an individual identified as having the
potential, ability and aspiration for future leadership positions within the
company.

Leadership Performance Leadership

Behaviors Results Aspirations
HIPO

47
Development

High Potential Programs

48
 Engagement Strengths

70% 82% 67%

CULTURE PRIDE TRUST
CULTURE is strong Outfitters are TRUST in Leadership
throughout the PROUD to tell
organization people where they
work

49
 Diversity Strategy
Attract and engage an
inclusive and diverse Create an
environment that Showcase Cabelas
workplace
supports diversity efforts to our external
and growth customers, future
employees and
OUTFITTERS communities

CULTURE
BUSINESS

50
 CAB Security Team

Dedicated Team of full time Cyber Security

Professionals

423 Information Technology Outfitters

17,000+ CAB Outfitters and growing

51
 Our Cyber Organization

Director, Enterprise
Information
Security

Secure
Security Incident
Risk Management Development & Security Operations
Engineering Response/CERT
Architecture

52
Internal Partnerships
IT

Risk
Legal
Mgmt

Cyber Asset
CLUB Security Protection

Brand
Fraud
Mgmt

Internal
Audit

53
 External Partnerships
FBI

Homeland Security

Secret Service

Various Other Software Providers

54
Security Embedded in IT DNA

Plan

Secure

Run Build

55
Incident Response Preparation is Key

56
Questions?

57
Supply Chain & Logistics
Doug Means
EVP and Chief Supply Chain Officer

58
Supply Chain Operations and Expense Management

59
Cabelas Branded Product Sourcing

60
Cabelas Free Trade and Duty Preferential Treatment

61
Port Operations

62
Port Operations

63
Distribution Operations

64
Outbound Store Replenishment

65
Direct to Consumer

66
Supply Chain Expense

Operations
33%

Transporation
67%

67
 Operational Discipline
4.0%
3.5% 3.4%
3.5%

3.0% 2.9%
3.0%
2.7%

2.5%

2.0%

1.5%

1.0%

0.5%

0.0%
2010 2011 2012 2013 2014
68
Operating Expenses as a % of Total Merchandise Sales
 Labor

Improved
Best Practice Management
Sharing of Labor and
Staffing

Part-time and
Cross Training Seasonal
Staffing

69
 Equipment

Average Return on Capital Investment : 1.1 Years

70
 Sales Per Sq. Ft. of DC Space

Sales Per DC Sq. Ft. Processing Efficiency

$1,200
Inventory Turns
$1,000
$800
More Efficient Use of
$600
Space
$400 Direct to Store
$200 Vendor Managed
$0 Inventory
1996 2004 2010 2014

71
Tooele DC (Quarter 3 2015)

72
Tooele DC (Quarter 3 2015)

Efficiency

Best Practices

Automation Opportunities

Vendor Support

Continuous Improvement
73
Supply Chain Expense

Operations
33%

Transporation
67%

74
Using Strong Growth as a Leverage Tool in Transportation

2010 75
Using Strong Growth as a Leverage Tool in Transportation

2011 76
Using Strong Growth as a Leverage Tool in Transportation

2012 77
Using Strong Growth as a Leverage Tool in Transportation

2013 78
Using Strong Growth as a Leverage Tool in Transportation

2014-2015 79
7%
Transportation as a % of Total Merchandise Sales
6.2%
6% 5.6%

5.0%
4.8%
Control of Contracts,
5%
4.3% Negotiations, and
4% Relationships
3% Alternative Modes
2%
Creativity in Direct
to Consumer
1%

0%
2010 2011 2012 2013 2014
80
Control of Contracts

Restructure
of Freight Direct
Management Negotiations
Contracts

81
Control of Contracts

82
Control of Contracts

83
 Alternate Modes of Transportation

Intermodal
Refer Programs
Consolidation
Programs

84
 Alternate Modes of Transportation

Intermodal
Refer Programs
Consolidation
Programs

85
 Direct to Consumer

Cube Reduction = 40.75%

Corrugated Reduction = 27.30%

Overall Cost Reduction = 19.72%

Average cost savings =

$0.68

Last Mile Programs

86
Omni-Shipping
Cabelas Stores & DCs
(including stores
beyond 2014)
4 Distribution
Centers
64 Shipping Points
69% General
Population
68% Customers

Store/DC UPS Hubs 87

Omni-Shipping

Right Tool for the

Right Situation
Speed
Liquidation
Convenience to
Customer
Inventory
Availability
88
 Continued Improvement
4.0% 7%
3.5% 3.4% 6.2%
3.5% 6% 5.6%
3.0% 2.9% 5.0%
3.0% 2.7% 5% 4.8%
4.3%
2.5%
4%
2.0%
3%
1.5%
1.0% 2%

0.5% 1%
0.0% 0%
2010 2011 2012 2013 2014 2010 2011 2012 2013 2014
Operating Expenses as a % of Total Merchandise Sales Transportation Cost as a % of Sales

89
Questions?

90
Retail Operations
Michael Copeland
EVP and Chief Operations Officer

91
 Agenda

Outfitters Customers Processes Growth

92
 Empowering our Outfitters
Product education and awareness
Cabelas Branded Product
Experience Program
Product Training Specialists
Merchant TV
Product library development

93
 Empowering our Outfitters
Firearms Compliance and Safety
Over 200K firearms safely
checked into our stores
Straw Purchase Awareness
Campaign
NSSF Dont Lie for the Other Image courtesy of National Shooting Sports Foundation

Guy Retailer of the Year Award

94
 Developing our Outfitters
Leadership development
Retail Manager-in-Training
Summit program
Leadership Exploration and
Development (LEAD)

95
 Investing for Growth
District structure
alignment
Retail support
Additional
leadership
visits each
year

96
 Voice of the Customer
2014 ACSI Satisfaction by Retail Sector
90
87.9
88
86
86
84
84

82 81 81
80 79
78 77 Industry
76 Avg. 76.8
74

72

70

Cabela's 1 2 3 4 5 6 97
 Serving our Customers
Regionalization of Cabelas
stores
Engaging, robust
experiences
Seminars and demos
Legendary Salute Military
Discount
98
 Serving our Customers
Giving back to our
communities
Campfire Award

99
 Serving our Outfitters
Outfitter Mobility
More than 2.5 million
clicks over all devices
Average of 1,570 users
logged in each day

100
 Refining our Processes
Comp Store Labor as a % of Comp Store Sales
9% 8.3% 8.1% 7.8%
8% 7.7% 7.6%
7%
6%
5%
4%
3%
2%
1%
0%
2010 2011 2012 2013 2014 101
 Refining our Processes
Comp Store Sales per Labor Hour
$190
$185
$185
$180 $179

$175 $172
$170
$165
$161
$160
$155
$150
$145
2011 2012 2013 2014
102
 Refining our Processes
Efficiencies
Cost savings
$2M in labor savings with
the Mobile Inventory App
(MIA) program
$1.2M in expense savings
Store Walk Audit (SWA)
315 District & 925 store
audits
103
 Experiencing Growth, Canada
Overall growth
+34% over last year
Distribution strategy
Relocating to a new, state of the art distribution
center in Calgary
Retail channel growth
+85% in total square footage
104
 Experiencing Growth, U.S.
New stores
11 new store
locations in
2014
Diversity and
Inclusion

105
Driving Improvements in 2015 and Beyond
Intensify Customer Loyalty
Outfitter Development Program
Drive the Experience Initiative
Customer Driven Outfitter Scheduling
Integrated Customer Services

106
Driving Improvements in 2015 and Beyond
Simplify Our Business
Continued efforts on
process improvements
Reduction in customer
friction
Enhanced mobile
efficiencies
107
Questions?

108
Marketing and Omni Channel Growth
Scott Williams
EVP and Chief Marketing and E-Commerce Officer

109
110
111
112
 Minimized reliance on digital agencies
More working Ad dollars: $2M+ annually
Connection to culture

Paid Search Advertising

Click costs flat
Improved targeting & advertising
message

113
114
115
 Cabelas E-commerce Demand

+17% y/y

Industry E-commerce Demand

+9% y/y

shoppers becoming more

comfortable and digitally savvy
-IBM Digital Analytics Benchmark

116
117
 2013 2014

Tablet 13% Tablet 16%

Handheld
22%

Desktop
56% Handheld
Desktop 28%
65% 118
 Browser Conversion by Device Type
2014 vs 2013 (Less Weeks 8,9,32,33 and 34)
Focus on improving + 30 BPS
conversion by device
+/- 0 BPS
Mobile conversion holding
strong
+ 40 BPS
Intent on device use
impacting conversion
Handheld used in store
Tablet used to shop
versus buy
Tablet Handheld Desktop
2013 2014
119
TEST AND LEARN
Old Checkout First Test Final Version

120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
Questions?

137
Merchandise Performance and Innovation
Brian Linneman
EVP and Chief Merchandising Officer

138
How are we driving profitability and productivity?

Profitability Productivity
Price Optimization Market Authenticity
Net SKU Merchandising system
Explode the middle enhancements
Small Store Initiatives Explode the middle
Vendor engagement Drop Ship expansion
Optimize retail space
Vendor engagement
139
 Profitability
Markdown Markdown Optimization

optimization is
50.0% 100%

45.0% 90%

now fully 40.0%

35.0%
80%

70%

deployed and 30.0% 60%

Sell Thru %
14% increase in

GM %
25.0% Sell Thru 50%

impacting 20.0% 40%

profitability 15.0%

10.0%
GM%
30%

20%

increased 500
5.0% 10%
bps
0.0% 0%
JUN JULY AUG SEPT OCT NOV

GM% SELL THRU

2014 2014
2013 2013

140
 Net SKU Profitability
Cost Factors Gross Margin Net Margin (SKU Profitability)
PO Cost X X
Gross Profit

Allowances/Rebates/Terms X X
Inbound Freight X X
Other landed factors (duty, royalty, box costs) X X
Sales (net of all discounts) X X
Distribution Fulfillment X
Operating Expenses

Interest X
Advertising X
Cost of Space X
Selling Cost (Labor) X
Other Corporate Overhead X
Net Profit

141
Net SKU provides the teams visibility to ask the right
questions:
Merchandising Planning / Supply Chain Marketing Retail
Who are the most Are there transportation Is my ad spend correct? Are my labor expenses in
profitable suppliers? cost opportunities? Does the ad frequency line?
Who are the least Does packaging need to need to be adjusted? Do we have the correct
profitable suppliers? change? Are we aligned and weeks of supply?
How do competing Do case packs or supporting the Am I efficient in flowing
suppliers results differ? minimums need to Merchant Strategies? product within the store?
How broad and deep is change? What products are not
the assortment? Are my lead times retail floor ready?
How are the adequate?
assortments How should the product
performing? flow?

142
 Vendor Comparison
2014 Net SKU %
25.0%
22.5%

20.0% 18.6%
15.9%
15.0%
11.6%
10.0% 8.4%

5.0%

0.0%
1 2 3 4 5

VENDOR

143
 Net SKU Profitability Example
Net SKU provided the visibility to:
Rationalize suppliers
Adjust product lead times
Improve turns
Metric Result
Assortment Rationalization Decreased by 20%

GM% Increased by 60 bps

Net Sales Increased 16%

Turn Increased by 30%

Net SKU Profitability Increased by 465 bps 144

How are we driving profitability and productivity?

Profitability Productivity
Price Optimization Market Authenticity
Net SKU Merchandising system
Explode the middle enhancements
Small Store Initiatives Explode the middle
Vendor engagement Drop Ship expansion
Optimize retail space
Vendor engagement
145
 Productivity
Capturing Outdoor 4.3% 3.5%
2.0%
1.2%
0.7%

Market Share
8.6%

15.6% Cabelas
64.1% Bass Pro
Gander Mountain
Sportsman's Warehouse
Scheel's
Full-Line Sporting Goods
Market size estimate Walmart
Other Outdoor Entities
$60-$65 B

Note: Information based on multiple sources, including NSGA Sporting Goods Market 2013 Edition, USF&W, NMMA as well as Cabelas 146
internal estimates
 Authenticity in every market
Archery Elk & Mule Archery Early Teal &
Bear
Deer Whitetail Grouse Goose

Blacktail Archery
Deer Whitetail

Archery Elk & Mule Trapping

Deer Archery
Whitetail

Archery Black Powder Deer

Antelope
Antelope

Archery
Archery
Whitetail
Whitetail
Early Teal & Squirrel
Dove Hog Goose

September Hunting 147

 Trout Walleye
Smallmouth Musky
Steelhead
Walleye Striped
Walleye
Smallmout Bass
Smallmouth
h

Crabbing

Trout

Trout
Walleye
Bass

Bass

Catfish

Offshore (Salt)
Redfish
Redfish Bass
Seatrout

September Fishing 148

 Productivity
Merchandising system enhancements to support
market authenticity
Merchandise Demand
Merchandise Assortment Fulfillment
Management Planning
Planning Planning
System

Planning Fully integrated systems Execution

Updates to Link buying Improved Updates to Multi level
software and decisions to application service software and replenishment
database shopper profiles levels database solution
Increased business Store and item Support continued Increased business Direct link to
capabilities attribution growth capabilities Demand
149
Assortment Planning
Systematic ability to group stores and
Assortment
Planning
items by detailed attributes
Region
Season
Species
Price point
End use

150
 September Fishing
Assortment
Planning

Store Bass Catfish Redfish Sea Trout Offshore

1 X
2 X X X X
3 X X X X X
4 X X
5 X X
6 X

151
How are we driving profitability and productivity?

Profitability Productivity
Price Optimization Market Authenticity
Net SKU Merchandising system
Explode the middle enhancements
Small Store Initiatives Explode the middle
Vendor engagement Drop Ship expansion
Optimize retail space
Vendor engagement
152
 Profitability and Productivity
Explode the Middle
Tier/Brand(s) Brands Percent of Sales
Best

Equipment & Apparel

10%
Better

Equipment & Apparel

80%
Good

Equipment & Apparel

10%
153
Explode the Middle

Strategy Focus Marketing /

End use Inventory investment Presentation
Customer Outfitter Consistent message
segmentation engagement and Elevated Omni
Competition training marketing
Product Cross functional Space
differentiation alignment Enhanced web
Presentation presentation
Execution Consistent
catalog message

154
 Explode the Middle
Cabelas Outfitter
Game Camera

Print Retail Digital 155

 Explode the Middle
Under Armour Hoodie

Print Retail Digital 156

Questions?

157
 Thank You
Please direct additional questions to:

Chris Gay Andrew Weingardt

Director, Investor Relations and Treasury Investor Relations Manager
(308) 255-2905 (308) 255-7428
Christopher.gay@cabelas.com Andrew.weingardt@cabelas.com

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Questions?
Camping vignettes
Family Camp
Hunt Camp
Backcountry Camp
Lunch
WLM demonstration
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