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Sportsman's Warehouse Holdings, Inc. (NASDAQ: SPWH) is a leading outdoor sporting goods retailer operating across the United States, including Alaska. With 79 locations, it offers a diverse range of high-quality gear for outdoor enthusiasts. The company provides a one-stop shopping experience, equipping customers with top-brand hunting, shooting, fishing, and camping essentials. The product categories include Camping, Apparel, Fishing, Footwear, Hunting and Shooting, and Optics, Electronics, Accessories, and other products. Key items offered are backpacks, jackets, camp essentials, hiking boots, GPS devices, ATV accessories, and fishing rods.
Sportsman's Warehouse is committed to delivering the best outdoor experience, living up to its trademark as "America's Premier Outfitter." The company continues to expand and enhance its product lines to meet the needs of passionate outdoor sportsmen and sportswomen. Financially, Sportsman's Warehouse remains focused on reducing bank borrowing and aims to return to profitability and growth. The company is also actively working on expense reduction in response to macroeconomic challenges while striving to provide customers with valuable assortments aligned with key outdoor seasons.
Recent developments include the reaffirmation of full-year 2024 guidance and ongoing efforts to reset the organization to deliver exceptional service and gear. The company faces various industry-specific challenges, including government regulations and economic conditions affecting consumer spending. However, with its strong market presence and customer-centric approach, Sportsman's Warehouse is well-positioned for future growth.
For potential investors and those interested in the latest updates, Sportsman's Warehouse continues to provide transparent communications and forward-looking statements under the guidance of Riley Timmer, VP of Investor Relations.
Sportsman's Warehouse (SPWH) reported Q3 2024 financial results with net sales of $324.3 million, down 4.8% year-over-year. The company experienced a same-store sales decrease of 5.7%, primarily due to consumer inflationary pressures affecting discretionary spending.
Gross profit margin improved to 31.8%, up 150 basis points from last year. The company reported a net loss of $0.4 million, with adjusted EBITDA of $16.4 million. Growth was noted in fishing, camping, and gift bar categories, while ammunition, apparel, and footwear saw declines.
The company adjusted its FY2024 guidance, projecting net sales between $1.18-1.20 billion and adjusted EBITDA of $23-29 million. Management aims to reduce inventory below $350 million and plans to open one new store in fiscal 2025.
Sportsman's Warehouse (Nasdaq: SPWH) has announced its upcoming third quarter 2024 earnings conference call, scheduled for Tuesday, December 10, 2024, at 5:00 p.m. Eastern Time. The company will provide a live audio webcast of the call through their investor relations website. A replay will be available until December 17, 2024, accessible through the same platform.
Sportsman's Warehouse has launched an integrated program called 'Honoring Your Service, Supporting Your Adventures' to recognize veterans and active-duty service members. The initiative includes several benefits such as a 5% everyday military discount available online via ID.me, which doubles to 10% off from November 8th-11th. The program features special Hot Buys, an integrated web experience highlighting Veteran-Owned and American Made brands, American Flag sticker distribution, and special recognition tables for veterans. The company emphasizes this support for veterans as a core part of their values, not just a one-time initiative.
Sportsman's Warehouse Holdings, Inc. (Nasdaq: SPWH) has appointed Ryan Carroll as VP Performance Marketing. Carroll will lead brand management, creative strategy, trade marketing, and integrated sales and marketing planning, reporting to Susan Sanderson, SVP Marketing, Ecommerce and Loyalty.
Carroll brings over 20 years of retail expertise in performance marketing, growth strategy, and brand-building. He has worked with notable brands such as Mercedes-Benz, Macy's, Carnival Cruise Line, Peloton, and Office Depot. His experience includes owning a growth marketing agency and leading an enterprise portfolio within the Omnicom network.
The appointment aligns with Sportsman's Warehouse's strategic reset and transformation efforts. Carroll aims to leverage his expertise to engage a broader outdoor consumer base and reinvigorate the company's brand positioning as the premier outdoor specialty retailer in the US.
Sportsman's Warehouse Holdings, Inc. (Nasdaq: SPWH) reported financial results for Q2 2024, ending August 3. Net sales decreased 6.7% to $288.7 million, with same-store sales down 9.8%. The company reported a net loss of $5.9 million, or $(0.16) per diluted share. Gross profit margin declined to 31.2% from 32.6% in Q2 2023.
For the first half of 2024, net sales fell 7.6% to $533.0 million, with a net loss of $24.0 million. The company secured a $45 million term loan to strengthen its balance sheet. SPWH updated its fiscal 2024 guidance, projecting net sales between $1.13-$1.17 billion and adjusted EBITDA of $20-$35 million, citing ongoing consumer pressure and promotional activities.
Sportsman's Warehouse Holdings (Nasdaq: SPWH) has announced its upcoming second quarter 2024 earnings conference call, scheduled for Tuesday, September 3, 2024, at 5:00 p.m. Eastern Time. The company will discuss its financial results for the quarter during this call. Investors and interested parties can access the live audio webcast of the conference call through the company's investor relations website at http://investors.sportsmans.com/. For those unable to attend the live call, a replay of the webcast will be available on the same website until September 10, 2024. This announcement provides shareholders and analysts with an opportunity to gain insights into Sportsman's Warehouse's recent financial performance and future outlook.
Sportsman's Warehouse Holdings, Inc. (Nasdaq: SPWH) has secured a $45 million term loan with a syndicate of premier financial institutions, strengthening its balance sheet and enhancing liquidity. This addition increases the company's total borrowing capacity to $395 million, subject to borrowing base calculations. Currently, $162.3 million is outstanding, with $124.2 million available for future borrowing. As of July 30, 2024, the company's liquidity stands at approximately $127 million.
CEO Paul Stone emphasized the company's proactive approach to managing its balance sheet and executing its reset strategy. The focus has been on managing debt, right-sizing inventory levels, and aligning operating expenses with current business trends. Pathlight, one of the financial partners, expressed confidence in the long-term trajectory of Sportsman's Warehouse and its role in serving the outdoor sporting goods market.
Sportsman's Warehouse (Nasdaq: SPWH) has appointed Susan Sanderson as the new Senior Vice President of Marketing, Ecommerce & Loyalty, effective immediately. Sanderson, with over two decades of experience in omni-channel marketing, will oversee the company's digital and traditional marketing, ecommerce, brand strategy, omni-channel experience, and loyalty programs.
CEO Paul Stone expressed excitement about Sanderson's unique expertise and extensive experience in specialty retail, which he believes will drive the company's omni-channel business forward. Sanderson's previous roles include senior positions at Party City Holding Inc., The Vitamin Shoppe, and Walgreens Boots Alliance. She aims to leverage her experience in building successful brands and driving growth to help return Sportsman's Warehouse to growth.
Sportsman's Warehouse Holdings announced Q1 2024 financial results, detailing a challenging macroenvironment. Net sales dropped to $244.2 million, a 8.7% decrease compared to Q1 2023. Same store sales fell by 13.5%. Gross profit was $73.8 million, or 30.2% of net sales, up from 29.9% in Q1 2023. SG&A expenses decreased to $94.4 million due to expense management but were offset by higher rent and depreciation from 11 new stores.
The company reported a net loss of $(18.1) million, worse than the $(15.6) million loss in Q1 2023. Adjusted EBITDA was $(8.7) million. Diluted loss per share was $(0.48) compared to $(0.42) in Q1 2023. Net debt stood at $161.8 million with total liquidity of $80.8 million. For FY 2024, the company reaffirmed its guidance, expecting net sales between $1.15 billion to $1.23 billion and adjusted EBITDA between $45 million to $65 million.
Sportsman's Warehouse (NASDAQ: SPWH) announced it will host a quarterly conference call to discuss its Q1 2024 financial results on June 4, 2023, at 5:00 p.m. Eastern Time.
The live audio webcast will be accessible on the company's investor relations website, and a replay will be available until June 11, 2024.
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