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Article Date: May 2019
Word Count: 466

Sportsman’s Warehouse Has Q1 Loss on Lower Sales

Net loss narrowed 6% to $5,459,000 in the first quarter ended May 4 from a loss of $5,828,000 last year, as revenues declined 3% to $174,017,000 from $180,059,000 lapping demand following the Parkland school shooting last year. Same store sales were off 5.7% due to weak firearms and ammunition sales. Last year’s bottom line included retirement expenses for the departed CEO; excluding that cost, adjusted net loss was $5,199,000 against a loss of $3,580,000. Gross margin was up 27 basis points to 31.1% on a more favorable mix and positive rate variances despite higher transportation costs. SG&A was up 1% ... Log in to view full article.


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