Sportsman’s Warehouse, Inc. reported net sales in the eight weeks ended December 25 were $299.6 million, which was flat versus the comparable eight weeks of fiscal year 2020. Compared to the same eight-week period of fiscal year 2019, net sales increased 59.3 percent from $188.1 million.

“I am extremely proud of our team and the execution of our business through the holiday season of 2021,” said Jon Barker, Sportsman’s Warehouse CEO. “Overall, our business showed tremendous strength across all categories despite a difficult comparison in firearms and ammunition. As we put the terminated merger process with Great Outdoors Group, LLC behind us, we are excited about the future and growth potential of the company.”

Same-store sales decreased 6.1 percent during the eight weeks of fiscal year 2021 compared to the eight weeks of fiscal year 2020. Excluding firearms and ammunition, same-store sales increased 2.8 percent compared to the same eight-week period of fiscal year 2020. Compared to the same eight weeks of fiscal year 2019, same-store sales increased 38.7 percent.

Same-store sales in the Footwear, Optics/Electronics/Accessories, and Clothing categories increased 15.7 percent, 6.7 percent, and 4.4 percent, respectively, compared to the eight weeks of fiscal year 2020.

E-commerce sales increased 2.5 percent compared to the same eight-week period of fiscal year 2020. Compared to the same eight-week period of fiscal year 2019, e-commerce sales increased approximately 200 percent.

The company opened three new stores located in Chandler, AZ; Elk Grove, CA; and Greenwood, IN.

The company received $55 million from the termination of its merger agreement with Great Outdoors Group, LLC and recorded a one-time gain.

Balance Sheet Highlights As Of December 25, 2021 include:

  • There is cash on hand of $57.4 million, no long-term debt and $39.9 million outstanding under our revolving credit facility.
  • Total liquidity of $216.1 million, which is comprised of our $57.4 million cash on hand plus $158.7 million available borrowing capacity under our revolving credit facility

Fourth Quarter and Fiscal Year 2021 Outlook include:

  • The company expects net sales and adjusted diluted earnings per share to be between $405 million to $410 million and $0.43 to $0.48, respectively. This guidance includes a headwind in January comparable sales as it anniversaries the events of January 6, 2020, which drove significant demand in our firearms and ammunition categories.
  • For the full fiscal year 2021, the company expects net sales and adjusted diluted earnings per share to be in the range of $1,495 million to $1,500 million and $1.66 to $1.71, respectively.

Photo courtesy Sportsman’s Warehouse