Sportsman's Warehouse Q2 net sales down 6.7%, net loss widens to $5.9M; updates FY2024 guidance

SPORTSMAN'S WAREHOUSE HOLDINGS, INC.

2024-Q2 EPS reported -$0.64 revenue$532,974,000

Net sales $288.7M vs $309.5M YoY, down 6.7%; same-store sales down 9.8%.
Gross margin fell to 31.2% from 32.6% due to shrink costs and markdowns.
Net loss $(5.9)M vs $(3.3)M; adjusted net loss $(5.3)M vs $(1.6)M.
SG&A decreased to $94.3M (32.7% of sales) from $102.3M (33.1%), improved efficiency.
Company provides updated full year 2024 guidance (specifics not in excerpt).

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