Established in 1986, Sportsman’s Warehouse Holdings, together with its subsidiaries, is an outdoor sporting goods retailer with its corporate headquarters in Midvale, Utah. The Company’s emphasis is on meeting the daily needs of the experienced outdoor veteran, the first-time participant, as well as every enthusiast in between. It offers its customers quality brand-name hunting, fishing, camping and shooting merchandise. Sportsman’s Warehouse Holdings, Inc. is the parent company of Sportsman’s Warehouse.
Sportsman’s Warehouse offers Hunting & Shooting; Archery; Fishing; Camping; Boating & ATV; Knives & Tools; and Optics & Electronics products. In addition, it offers Men’s, Women’s, and Youth clothing. Examples of clothing products in these categories include Men’s and Women’s hunting and fishing clothing, as well as Men’s workwear and Women’s rainwear. Examples of Youth clothing include hunting and fishing clothing, rainwear, and vests, jackets and coats. Sportsman’s Warehouse also offers footwear (including waders and wader accessories).
Product examples it sells also include ATV accessories, blinds and tree stands, decoys, firearms, reloading equipment, GPS devices, knives, lighting, and two-way radios. Sportsman’s Warehouse stores additionally offer archery technician services, fishing-reel line winding, gun bore sighting and scope mounting, among other services. The Company also issues hunting and fishing licenses.
Furthermore, Sportsman’s Warehouse offers different private label offerings. These are under the Rustic Ridge, Killik, Vital Impact, Yukon Gold, Lost River, and Sportsman’s Warehouse brands. Also, all of the Company’s Sportsman’s Warehouse stores offer instruction, seminars, as well as special events related to outdoor activities.
The Company has the largest outdoor specialty store base in the Western U.S. and Alaska. For Q2 2016, Sportsman Warehouse Holdings’ Q2 results came in above its guidance on sales and EPS (Earnings Per Share). It also increased its same-store or comparable-store sales (sales to stores that have been open for over one year). This metric enables one to ascertain what element of the overall sales growth was because of new store openings.
Same-store sales for the Company grew 2.9% in comparison to the year-ago period. Its Net Sales for Q2 grew 13.7% to $189.8 million. Moreover, its Gross Profit grew14.1%. Corresponding Gross Margin as a percentage of Sales grew 20 basis points in comparison to the same period the year prior. While private label products are a small aspect of Sportsman’s Warehouse’s business (3.4% of net sales during Q2), the Company did grow private label sales by 25% quarter-over-quarter.
This month, Sportsman’s Warehouse expanded its operations with a grand opening that took place on Thursday September 15, 2016. This is for its newest retail location in Avondale, Arizona. This is the seventh Sportsman’s Warehouse location in Arizona. Sportsman’s Warehouse Holdings also had a simultaneous store opening in Fairfield, California. Currently, the Company operates 75 retail locations in 20 states across the U.S.
Mr. John V. Schaefer, Chief Executive Officer (CEO) of Sportsman’s Warehouse Holdings, said, “Arizona is a great state we know well with a high user base for fishing, camping and hunting. This seventh location solidifies Sportsman’s Warehouse as an outdoor leader in Arizona. The addition of this store keeps with our business plan, promoting stable growth that will benefit our company, our vendors, and most importantly, our loyal customers for many years to come.”
In Q2, Sportsman’s Warehouse opened three stores (Juneau, Alaska; Prescott, Arizona; and Roseburg, Oregon). Its plan is to open 11 stores this fiscal year. Its focus going forward is its strategic growth initiatives. For 2017, the Company announced its first four stores. The locations for these stores are: Cedar City, Utah; Moses Lake, Washington; Wilmington, North Carolina; and Morgantown, West Virginia. These will be smaller format retail stores.