Sportsman’s Warehouse
Sportsman’s Warehouse Holdings Inc., based in Midvale, reported a net loss of $4.5 million, or 11 cents per share, for the quarter ended April 29. That compares with net income of $300,000, or 1 cent per share, for the same quarter a year earlier.
Net sales in the most recent quarter totaled $156.9 million, up from $151.6 million in the year-earlier quarter.
Sportsman’s Warehouse is an outdoor sporting goods retailer.
“As expected, we saw continued softness in firearm demand during the first quarter as we anniversaried difficult compares post the San Bernardino shooting and executive orders that were issued at the beginning of 2016,” John Schaefer, chief executive officer, said in announcing the results. “The industry remained highly promotional and we increased our promotional activity in order to maintain our share position, resulting in slightly better than planned sales, and in-line adjusted earnings performance for the first quarter.
“We are pleased with the progress we continued to make on our key strategic initiatives of maximizing the potential of our loyalty program, growing our private label segment, enhancing our e-commerce platform, and investing in our store teams.”
Schafer said the company is “maintaining a conservative approach” for the second quarter “until we anniversary the unfortunate events that took place in Orlando in June 2016 that caused increased demand in our firearm and ammunition categories.”
“We continue to expect year over year trends in the second half of 2017 to show improvement relative to year-on-year performance trends in the first half of the year, and are reiterating our full year guidance.”