June 04, 2020
Led by a 90% increase in ammo sales and a 65% increase in gun sales, Sportsman’s Warehouse saw overall sales increase 42% to $246,835,000 from $174,017,000 for the 13 weeks ended May 2 on a 28.6% comp store increase and more than 200% increase in digital sales.
The teen retailer swung to a loss of $21,101,000 in the first quarter from net income of $793,000 last year, on revenues that dipped 35% to $137,772,000 from $212,928,000.
Net loss plunged to $345,838,000 including a $262,719,000 goodwill impairment charge against last year’s income of $9,083,000 on revenues down 41% to $397,184,000 from $677,754,000.
The Big a said that Q2 sales in Greater China will be flat year-over-year, driven by better than expected e-commerce sales and conversion rates in brick-and-mortar stores, despite lower store traffic.
Retail/rental revenue fell 32% to $78,133,000 from $114,082,000 in the fiscal third quarter ended Apr. 30 due to resort and retail store closures caused by the Covid-19 pandemic, but benefitting from the addition of Peak Resorts.
Net loss was $39,295,000 in the first quarter ended Apr. 30 against a profit of $12,043,000 last year as revenues tumbled 36% to $405,131,000 from $633,552,000, including a 34% drop in wholesale to $379 million and a 59% falloff in retail to $34 million.
The Gap-owned retailer reported an 8% dip in Q1 revenues to $205 million from $223 million, as store sales fell 50% while online sales jumped 49%.
The retail giant has moved firearms and ammunition off of the sales floor and into a secure room in those stores located near areas that have been hit by rioting and looting.
The Canadian sporting goods importer and distributor has completed the purchase of Sports Equipment of Toronto, which distributes sports equipment to the institutional market, from owner and CEO Wayne Wilson.