Sportsmans Warehouse Holdings Inc
NASDAQ:SPWH
Sportsmans Warehouse Holdings Inc
Sportsman's Warehouse Holdings, Inc. is an outdoor specialty retailer. The company is headquartered in West Jordan, Utah and currently employs 3,300 full-time employees. The company went IPO on 2014-04-17. The firm has an outdoor specialty store base in the Western United States and Alaska. The company operates approximately 122 stores in 29 states, which are located in power, neighborhood and lifestyle centers. Its stores are organized into six departments, the Camping department offers backpacks, camp essentials, canoes and kayaks, outdoor cooking equipment, sleeping bags, tents and tools. The Apparel department offers jackets, outerwear, sportswear, technical gear and work wear. The Fishing department provides bait, fishing rods, flotation items, fly fishing, lures, and small boats. The Footwear department offers boots, socks, and casual shoes. The Hunting and Shooting department offers ammunition, archery items, firearms, firearms safety and storage, reloading equipment, and shooting gear. The Optics, Electronics, Accessories, and Other department offers gift items, lighting, binoculars, two-way radios and more.
Sportsman's Warehouse Holdings, Inc. is an outdoor specialty retailer. The company is headquartered in West Jordan, Utah and currently employs 3,300 full-time employees. The company went IPO on 2014-04-17. The firm has an outdoor specialty store base in the Western United States and Alaska. The company operates approximately 122 stores in 29 states, which are located in power, neighborhood and lifestyle centers. Its stores are organized into six departments, the Camping department offers backpacks, camp essentials, canoes and kayaks, outdoor cooking equipment, sleeping bags, tents and tools. The Apparel department offers jackets, outerwear, sportswear, technical gear and work wear. The Fishing department provides bait, fishing rods, flotation items, fly fishing, lures, and small boats. The Footwear department offers boots, socks, and casual shoes. The Hunting and Shooting department offers ammunition, archery items, firearms, firearms safety and storage, reloading equipment, and shooting gear. The Optics, Electronics, Accessories, and Other department offers gift items, lighting, binoculars, two-way radios and more.
Sales Growth: Sportsman's Warehouse delivered its third consecutive quarter of positive same-store sales, up 2.2% year-over-year in Q3.
Revenue: Net sales for the quarter were $331.3 million, an increase of 2.2% compared to last year.
Gross Margin: Gross margin improved by 100 basis points to 32.8%, driven by better product margins, lower freight costs, and improved inventory management.
Guidance Cut: The company lowered its full-year sales and EBITDA guidance due to increased macroeconomic headwinds, a promotional retail environment, and softer Q4 trends.
Inventory Management: Inventory was reduced by $14.1 million year-over-year and $20 million sequentially, with a focus on keeping inventory below $330 million by year-end.
Promotional Strategy: Management is increasing promotions, especially in firearms, ammo, and store-wide, to stimulate traffic and manage inventory through a tough Q4.
Category Performance: Hunting and shooting sports grew 5%, fishing rose 14%, while camping sales declined by high single digits.
Personal Protection: The nonlethal personal protection category continues to perform well and is margin accretive.
