Sportsman's Warehouse Q1 net loss $15.6M; same-store sales down 17.8%

SPORTSMAN'S WAREHOUSE HOLDINGS, INC.

2023-Q1 EPS reported -$0.42 revenue$267,529,000

Net sales $267.5M vs $309.5M YoY; same-store sales declined 17.8%.
Net loss of $(15.6)M vs net income of $2.0M in Q1 2022; adjusted net loss $(14.8)M.
Gross margin fell to 29.9% from 32.0%, driven by product mix and ammunition margins.
Opened 5 new stores YTD; on track to add 10 more in fiscal 2023 as previously announced.
Interim CEO Joseph Schneider cited weather and macro headwinds; permanent CEO search ongoing.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SPORTSMAN'S WAREHOUSE HOLDINGS, INC. reported thirteen weeks ended April 29, 2023 results: revenue $267.5 million, net income $(15.6) million.

Period: thirteen weeks ended April 29, 2023
Revenue: $267.5 million
Net income: $(15.6) million
Result: reported results

Exact text from the filing

and I’m optimistic that we will find a strong leader to take Sportsman’s Warehouse to the next level of growth.” For the thirteen weeks ended April 29, 2023: • Net sales were $267.5 million, compared to $309.5 million in the first quarter of fiscal year 2022. The net sales decrease was primarily due to lower sales demand from weather-related headwinds in the Western

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Source: SEC EDGAR

accession 0000950170-23-024850

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