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May 03
Sportsman's Warehouse Q1 2025 Earnings Report
Sportsman's Warehouse reported a modest revenue increase and its first positive same-store sales comp in nearly four years, despite a wider net loss.
Key Takeaways
Sportsman's Warehouse delivered revenue growth and improved gross margin in Q1 2025. However, it reported a wider net loss compared to last year, reflecting continued macroeconomic pressures. The company reaffirmed its full-year guidance and emphasized progress in its transformation strategy.
Sportsman's Warehouse
Sportsman's Warehouse
Forward Guidance
The company reaffirmed its FY25 guidance, projecting a range for revenue growth and adjusted EBITDA, while focusing on inventory strategy, cash flow, and debt reduction.
Positive Outlook
- Full-year 2025 guidance reaffirmed
- Expected net sales growth range from -1.0% to +3.5%
- Anticipated adjusted EBITDA between $33M and $45M
- Capital investments aimed at improving merchandising and store productivity
- Plans to open one new store in Surprise, Arizona
Challenges Ahead
- Macroeconomic headwinds continue to impact performance
- Anticipated tariff increases led to inventory pull-forwards
- Net loss widened year-over-year
- Adjusted EBITDA remained negative in Q1
- Free cash flow not yet positive in Q1 despite FY goal