Welcome to our dedicated page for Sportsmans Warehouse news (Ticker: SPWH), a resource for investors and traders seeking the latest updates and insights on Sportsmans Warehouse stock.
Sportsman’s Warehouse Holdings Inc (SPWH) operates as a leading outdoor retailer specializing in hunting, camping, and outdoor recreation gear. This news hub provides investors and stakeholders with verified updates directly from the company, including earnings announcements, product expansions, and strategic initiatives.
Our curated collection of SPWH news ensures access to official press releases and market-moving developments. Track updates across key operational areas such as retail expansions, partnership agreements, and leadership updates. The resource is designed to help users monitor the company’s position in the competitive outdoor goods sector.
Discover timely information on inventory launches, financial results, and corporate milestones. All content is sourced from authorized channels to maintain accuracy and compliance. Bookmark this page for streamlined access to SPWH’s latest business developments and industry communications.
Sportsman's Warehouse Holdings, Inc. (Nasdaq: SPWH) has secured a $45 million term loan with a syndicate of premier financial institutions, strengthening its balance sheet and enhancing liquidity. This addition increases the company's total borrowing capacity to $395 million, subject to borrowing base calculations. Currently, $162.3 million is outstanding, with $124.2 million available for future borrowing. As of July 30, 2024, the company's liquidity stands at approximately $127 million.
CEO Paul Stone emphasized the company's proactive approach to managing its balance sheet and executing its reset strategy. The focus has been on managing debt, right-sizing inventory levels, and aligning operating expenses with current business trends. Pathlight, one of the financial partners, expressed confidence in the long-term trajectory of Sportsman's Warehouse and its role in serving the outdoor sporting goods market.
Sportsman's Warehouse (Nasdaq: SPWH) has appointed Susan Sanderson as the new Senior Vice President of Marketing, Ecommerce & Loyalty, effective immediately. Sanderson, with over two decades of experience in omni-channel marketing, will oversee the company's digital and traditional marketing, ecommerce, brand strategy, omni-channel experience, and loyalty programs.
CEO Paul Stone expressed excitement about Sanderson's unique expertise and extensive experience in specialty retail, which he believes will drive the company's omni-channel business forward. Sanderson's previous roles include senior positions at Party City Holding Inc., The Vitamin Shoppe, and Walgreens Boots Alliance. She aims to leverage her experience in building successful brands and driving growth to help return Sportsman's Warehouse to growth.
Sportsman's Warehouse Holdings announced Q1 2024 financial results, detailing a challenging macroenvironment. Net sales dropped to $244.2 million, a 8.7% decrease compared to Q1 2023. Same store sales fell by 13.5%. Gross profit was $73.8 million, or 30.2% of net sales, up from 29.9% in Q1 2023. SG&A expenses decreased to $94.4 million due to expense management but were offset by higher rent and depreciation from 11 new stores.
The company reported a net loss of $(18.1) million, worse than the $(15.6) million loss in Q1 2023. Adjusted EBITDA was $(8.7) million. Diluted loss per share was $(0.48) compared to $(0.42) in Q1 2023. Net debt stood at $161.8 million with total liquidity of $80.8 million. For FY 2024, the company reaffirmed its guidance, expecting net sales between $1.15 billion to $1.23 billion and adjusted EBITDA between $45 million to $65 million.
Sportsman's Warehouse (NASDAQ: SPWH) announced it will host a quarterly conference call to discuss its Q1 2024 financial results on June 4, 2023, at 5:00 p.m. Eastern Time.
The live audio webcast will be accessible on the company's investor relations website, and a replay will be available until June 11, 2024.
Sportsman’s Warehouse Holdings, Inc. announced an inducement grant of 124,610 time-based restricted stock units to the CEO, Paul Stone, under Nasdaq Listing Rule 5635(c)(4). The RSUs will vest in three equal installments over the next three years, subject to Mr. Stone's continued service.
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