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WEST JORDAN, Utah - Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) saw its stock plunge 12% after reporting a wider-than-expected loss for the first quarter, despite beating revenue estimates.
The outdoor sporting goods retailer posted a Q1 adjusted loss of $0.47 per share, missing analyst expectations for a loss of $0.46 per share. Revenue came in at $249.1 million, surpassing the consensus estimate of $240.39 million and growing 2% YoY.
Sportsman’s Warehouse delivered its first positive same-store sales growth in nearly four years, with comparable sales rising 2% compared to a 13.5% decline in Q1 last year. The company cited improved inventory precision and a focus on core items as driving the sales improvement.
"Our focus on improving inventory precision, leaning into local expertise, executing our new digital-first marketing strategy, and establishing Sportsman’s as the authority in personal protection is driving meaningful progress across the business," said CEO Paul Stone.
Despite the revenue beat, the wider-than-anticipated loss appeared to disappoint investors, sending shares sharply lower. The company maintained its full-year 2025 outlook, expecting net sales between -1% to +3.5% growth and adjusted EBITDA of $33-$45 million.
Gross margin expanded slightly to 30.4% from 30.2% last year, while selling, general and administrative expenses as a percentage of sales improved to 38.2% from 38.6%.
The company ended Q1 with $162.4 million in net debt and total liquidity of $122.1 million. Sportsman’s Warehouse plans to open one new store in Surprise, Arizona during fiscal 2025.
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