Investor Buys a Big Seat at Cabela's Table, Pushes for Sale

Cabela’s could be forced to sell itself, or carve the company into pieces, after a New York investor disclosed a big stake in the outdoor retailer Wednesday, saying it intends to push for changes. Cabela’s has struggled recently with flagging sales. It said earlier this month that it would shelve part of its plans to open new stores. Now, it might be forced to do much more than that after hedge fund Elliott Management Corp. announced that it owns 11.1 percent of the Sidney, Nebraska-based retailer.