Net income dropped 81% to $11,029,000 from $58,434,000 as it lapped the prior year’s $55 million merger termination benefit, while revenue fell 9% to $379,269,000 from $416,288,000 for the fourth quarter ended Jan. 28. The top line felt effects from inflation and recessionary fears, partially offset by contributions from nine new stores. Comps were down 12.5%. Sales are still significantly improved from pre-pandemic levels, up 47% over Q4 ’19 with a +24.9% comp, led by a 46% gain in footwear and 42% in apparel. Hunting was up 27% from 2019, while camping gained 7% and optics/electronics/accessories gained 10%.

Jon Barker, SPWH’s ... Log in to view full article.