Sportsman's Warehouse Q1 net loss $18.1M; same-store sales down 13.5%

SPORTSMAN'S WAREHOUSE HOLDINGS, INC.

2024-Q1 EPS reported -$0.48 revenue$244,240,000

Net sales of $244.2M, down 8.7% YoY from $267.5M; same-store sales fell 13.5%.
Gross profit $73.8M (30.2% of sales) vs $80.0M (29.9%) in prior year; margin improved on fishing category mix.
SG&A expenses $94.4M (38.7% of sales) vs $99.0M (37.0%) as cost controls offset new-store costs.
Adjusted net loss $(17.8)M vs $(14.8)M a year ago; full-year 2024 guidance reaffirmed.
CEO cites challenging macro environment; company using cash to pay down debt.

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