Cabela's Incorporated (NYSE:CAB) announced that Richard N. Cabela, Co-Founder and Chairman Emeritus, passed away Monday at his home in Sidney. He was 77.
Dick, along with his wife, Mary, and brother, Jim, founded Cabela’s somewhat inadvertently in 1961 when he purchased $45 worth of hand-tied fishing flies while in Chicago on a furniture and housewares buying trip with his father for the family’s Chappell, Neb., furniture store.
With the flies not moving off the store shelf, Dick came upon the idea of selling them through the mail.
Realizing the potential for mail-order sales, Dick purchased more fishing gear and he and Mary produced a three-page mimeographed catalog which was mailed with each order.
Today, Cabela’s is a $3.6 billion company with a worldwide catalog and Internet business and 50 stores in the United States and Canada.
Dick served as Chairman of the Board until June 2013, when he transitioned to Chairman Emeritus and Jim Cabela became Chairman.
Dick is survived by his wife, Mary, and their nine children and their families; as well as two sisters and three brothers.