Sportsman’s Warehouse Holdings, Inc. reported a decline in financial performance for the fiscal year ending February 1, 2025, with net sales decreasing by 7.0% to $1.2 billion, down from $1.3 billion in the previous year. The company attributed this decline to ongoing consumer inflationary pressures and recession concerns, which negatively impacted discretionary spending and store traffic. Same-store sales also fell by 7.8%, reflecting reduced demand across most product categories, although the Fishing department saw a modest increase in sales. The company did not open any new stores during the fiscal year, a shift from its previous strategy, and plans to open only one new store in fiscal year 2025.
Despite the drop in sales, Sportsman’s Warehouse managed to improve its gross profit margin to 30.9%, up from 29.8% in the prior year, primarily due to increased product margins in its Apparel and Footwear departments. However, the company reported a net loss of $33.1 million, compared to a loss of $29.0 million in the previous fiscal year. Selling, general, and administrative expenses decreased by 4.9% to $388.7 million, driven by reductions in payroll and pre-opening expenses, as the company focused on cost-cutting measures.
Operationally, Sportsman’s Warehouse maintained a workforce of approximately 5,100 employees, with 4,500 working in stores. The company’s e-commerce platform contributed over 20% of total sales, indicating a growing reliance on online sales channels. The company also reported that its loyalty program had over 4.9 million participants, with approximately 53% of revenue generated from loyalty customers.
Looking ahead, Sportsman’s Warehouse is focused on enhancing its omni-channel presence and improving customer engagement through various initiatives, including expanding its product assortment and refining its marketing strategies. The company is also evaluating its short-term growth strategy in light of current economic conditions and consumer behavior trends. The management expressed cautious optimism about future performance, contingent on stabilizing economic conditions and effective execution of its strategic initiatives.
About SPORTSMAN'S WAREHOUSE HOLDINGS, INC.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.