Cabela's Considering Sale of Credit Card Business says NY Post

Cabela's (NYSE:CAB) is considering a sale of its credit card business before it puts the entire company up for sale, according to sources cited by The New York Post. The Post claims that Cabela's is looking for special conditions to a sale that would allow the retailer to maintain the profit stream from the credit card business and releasing Cabela's from regulatory oversight. Privately-owned Bass Pro Shops, which is interested in buying Cabela's 27 stores, will now have to wait until the credit card business is sold before making an acquisition offer. Shares are nearly 3% higher at $40.80 with a 52-week range of $33.03 to $58.90, snapping a seven-day losing streak.

The stock is up 3.52% or $1.4 after the news, hitting $41.19 per share. About 469,955 shares traded hands. Cabelas Inc (NYSE:CAB) has declined 23.45% since June 17, 2015 and is downtrending. It has underperformed by 12.43% the S&P500.

Cabela's Incorporated, together with its subsidiaries, operates as a specialty retailer and direct marketer of hunting, fishing, camping, and related outdoor merchandise. The company operates through three segments: Retail, Direct, and Financial Services. The Retail segment sells products and services through its retail stores. The Direct segment sells products through its e-commerce Websites, such as Cabelas.com and Cabelas.ca, as well as direct mail catalogs.

Read the rest of the story at WallStreet.org here.