SPWH

Outdoor specialty retailer Sportsman's Warehouse (NASDAQ:SPWH) met Wall Street’s revenue expectations in Q2 CY2026, but sales were flat year on year at $295.6 million. Its non-GAAP loss of $0.08 per share was 25% above analysts’ consensus estimates. Is now the time to buy SPWH? Find out in our full research report (it’s free). Revenue: $295.6 million vs analyst estimates of $295.2 million (flat year on year, in line) Adjusted EPS: -$0.08 vs analyst estimates of -$0.11 (25% beat) Adjusted EBITDA: $8.69 million vs analyst estimates of $8.11 million (2.9% margin, 7.2% beat) EBITDA guidance for the full year is $33 million at the midpoint, below analyst estimates of $33.22 million Operating Margin: -0.4%, in line with the same quarter last year Same-Store Sales were flat year on year (2.1% in the same quarter last year) Market Capitalization: $46.82 million Sportsman's Warehouse delivered results in Q2 that met Wall Street’s revenue expectations and outperformed on profitability, with the stock responding positively. Management highlighted continued success in its transformation strategy, particularly through localized merchandising and targeted marketing. CEO Paul Stone attributed momentum to strong performance in hunting, shooting sports, and fishing, remarking that, “Aligning our merchandising and marketing to local outdoor pursuits and solution selling is proving to be a critical unlock.” The quarter also benefited from growth in e-commerce and effective inventory positioning ahead of peak seasons. Looking ahead, management is focused on executing its back-half strategy by emphasizing inventory precision, local relevance, and expansion in personal protection products. CFO Jennifer Fall Jung cautioned that higher tariffs may pressure margins, but noted proactive measures in cost management and product assortment. Stone highlighted opportunities in building larger customer baskets and growing newer categories, stating, “We have continued upside in personal protection as we think about the back half of the year and starting next year.” The company aims to generate positive free cash flow and reduce debt while navigating ongoing consumer and macroeconomic headwinds. Management credited the quarter’s performance to targeted growth in key product categories, improved inventory discipline, and early benefits from its omnichannel strategy. Personal protection category expansion: Sportsman's Warehouse expanded its range of less-lethal products like TASER and Byrna, targeting new customer segments and increasing store traffic. Management views this as a driver for both current performance and future growth opportunities. Hunting and fishing drive comps: Positive comparable sales were fueled by hunting, shooting sports, and fishing, with fishing growing nearly 11% year over year. CEO Paul Stone emphasized that hunting and personal protection, in particular, showed strong customer demand and resilience compared to industry trends. Localized merchandising and marketing: Management reported high single-digit sales growth in Alaska, attributing this to its strategy of tailoring product assortments and marketing efforts to local outdoor activities, which improved inventory productivity and customer engagement. E-commerce and omnichannel growth: Online sales increased 3%, with over 70% of digital transactions fulfilled via buy online, pick up in store (BOPUS). This approach has driven incremental store traffic and sales, extending the company’s reach beyond its physical footprint. Inventory readiness for seasonal peaks: The company made a strategic decision to build inventory ahead of the fall hunting season, ensuring stores are well-stocked and positioned to capitalize on peak demand. Management believes this improved timing will support cleaner sell-throughs and reduce excess inventory risk later in the year. Management expects future performance to be shaped by ongoing product mix shifts, tariff-related cost pressures, and execution of its inventory and local market strategies. Tariff and margin management: CFO Jennifer Fall Jung highlighted that while higher tariffs may create headwinds, the company is mitigating risk through proactive vendor negotiations and leveraging minimum advertised price (MAP) agreements. Margin pressure will also depend on the mix shift toward lower-margin hunting categories in the second half. Expanding personal protection: Management sees further opportunity in building out both lethal and less-lethal personal protection offerings. These products are attracting new customer demographics and are expected to contribute to sales and basket size growth, especially as more stores are rolled into the program. Store optimization and real estate discipline: CEO Paul Stone reiterated a focus on sweating existing assets before pursuing new store growth, monitoring underperforming locations, and prioritizing debt reduction. This approach aims to enhance cash flow and operational efficiency while maximizing the impact of current store investments. In the next few quarters, our team will focus on (1) the effectiveness of inventory management as peak hunting season unfolds, (2) margin trends amid tariff fluctuations and shifting product mix, and (3) continued growth in personal protection and omnichannel sales. The ability to optimize underperforming stores and adapt to evolving consumer demand will also be important performance indicators. Sportsman's Warehouse currently trades at $1.32, up from $1.21 just before the earnings. At this price, is it a buy or sell? Find out in our full research report (it’s free for active Edge members). ONE MORE THING: Top 5 Growth Stocks. The biggest stock winners almost always had one thing in common before they ran. Revenue growing like crazy. Meta. CrowdStrike. Broadcom. Our AI flagged all three. They returned 315%, 314%, and 455%, respectively. Find out which 5 stocks it’s flagging this month — FREE. Get Our Top 5 Growth Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+1,154% between June 2020 and June 2025). Find your next big winner with StockStory today.

This article first appeared on GuruFocus. Net Sales: $295.6 million in Q2, a 0.6% increase from $293.9 million in the same period last year. Same-Store Sales: Essentially flat versus last year, with 6.7% growth in the hunting and shooting sports department. Gross Margin: 32.5%, a 50 basis point improvement compared to 32% in Q2 last year. SG&A Expenses: $97.1 million or 32.9% of net sales, down from $97.2 million or 33.1% in Q2 last year. Net Loss: $4.4 million or negative $0.11 per diluted share, compared with a net loss of $7.1 million or negative $0.18 per diluted share in the prior year. Adjusted Net Loss: $3.1 million or negative $0.08 per diluted share, compared with an adjusted net loss of $4.7 million or negative $0.12 per diluted share in Q2 last year. Adjusted EBITDA: $8.7 million, compared with $8.3 million in the second quarter of 2025. Inventory: $399 million at the end of Q2, down $44.5 million or 10% versus Q2 of last year. Net Debt: $169 million, a decrease of $26 million compared to Q2 of last year. Department Sales: Hunting and shooting sports sales increased nearly 7%, while fishing department sales decreased about 2% in Q2. E-commerce Sales: Grew nearly 3% in the quarter, led by Fishing up 10% and Hunting up 6%. Store Count: 147 stores across the fleet. Full Year 2026 Guidance: Net sales expected to range between down 1% to up 2%, adjusted EBITDA between $30 million and $36 million, and capital expenditures between $20 million and $25 million. Warning! GuruFocus has detected 7 Warning Signs with SPWH. Is SPWH fairly valued? Test your thesis with our free DCF calculator. Release Date: September 01, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Same-store sales were essentially flat in Q2, in line with expectations, despite macroeconomic headwinds. Hunting and shooting sports department sales grew nearly 7%, driven by strong demand in firearms and ammunition. Total inventory decreased by $44.5 million year-over-year, improving efficiency and balance sheet strength. Gross margin improved by 50 basis points to 32.5%, aided by disciplined inventory management and reduced freight costs. E-commerce sales grew nearly 3%, outpacing total sales for the ninth consecutive quarter, with over 70% of online orders picked up in stores. Core customer remains pressured by elevated fuel prices, impacting discretionary spending. Fishing department sales declined 2% due to drought conditions in key Western states. Camping and soft lines departments experienced sales declines, though trends improved in August. Promotional cadence was more aggressive than planned to reinforce value proposition, potentially impacting margins. Consumer headwinds are expected to persist, with no immediate relief from high fuel costs. Q: Can you provide more detail on the performance of the hunting and shooting sports department, and how it compares to industry trends?A: Paul Stone (CEO): Firearms and ammunition were extremely strong, with firearms up 8% and ammunition up nearly 11% in Q2. We are looking at this on a two-year stack basis, as last year we had the benefit of launching personal protection programs and selling down aged inventory. On a two-year basis, the consistency of the category looks very good, and we are confident in our position. Q: How are you thinking about the promotional environment, and do you expect the heavier promotional cadence to persist in the back half of the year?A: Jennifer Fall Jung (CFO): Yes, we expect the promotional environment to remain competitive for the remainder of the year. Since we cannot predict fuel prices, which are a major pressure point for our core customer, we have built our plan around the expectation that we will need to continue offering value to drive sales. Q: Can you elaborate on the consumer behavior changes you are seeing in response to elevated gas prices?A: Jennifer Fall Jung (CFO): We are seeing high penetration in consumables like lures and ammunition, as customers continue to spend on their core pursuits. We are also seeing some trade-down in categories like rods and reels to more basic models. Overall, our average order value is up, and customers are not giving up spending on firearms and ammunition, but they are being more selective with other discretionary purchases. Q: What gives you confidence in the second-half outlook for the camping and apparel categories, which have been declining?A: Paul Stone (CEO): We are encouraged by improved August trends. This is the first time we have been able to be clean in-season on these products, allowing newness to flow through. We have the right curated assortments, like hunting tents and dehydrated food for camping, and we are seeing a huge improvement in camp and apparel. We expect camping to recover first in Q3, with apparel following in Q4. Q: Can you quantify the tariff refund benefit in the quarter and where it was reinvested?A: Jennifer Fall Jung (CFO): The tariff refund was not significant for us, as only 3% of our assortment is private label. We strategically decided to use the refund to offer more value to our consumer in a very value-oriented environment, particularly in categories where we saw pressure, rather than letting it flow entirely to the bottom line. Q: What is your level of confidence in reducing inventory levels by the end of the fiscal year, and what are the working capital benefits?A: Jennifer Fall Jung (CFO): We have extreme high confidence. We review inventory frequently and have plans lined up that match our promotional cadence. We are in a much better position than last year and feel very confident we will end the year with inventory below last year's levels. Paul Stone (CEO) added that the team has successfully reduced inventory by 10% year-over-year while still delivering a flat sales comp, and the savings are being reinvested into core SKUs to improve in-stocks. Q: Are there any changes to your store closure plans?A: Jennifer Fall Jung (CFO): No major changes. We have one store confirmed to close on January 31. We expect to reach an agreement to close a second store by the end of January, though it might push into 2027. A third store is less certain, but we are making traction on negotiations for all other locations. Q: Can you discuss the gross margin trends within the hunting category and the opportunity for expansion?A: Jennifer Fall Jung (CFO): We see opportunity in firearms and ammunition. While bulk ammunition can pressure the margin rate, it drives more margin dollars. Our focus is on attachment categories and bundling initiatives to drive overall category margin. Paul Stone (CEO) added that there is a large opportunity to grow ammunition sales, which carries a greater margin than firearms, and they are implementing strategies to improve the margin mix. Q: How are you leveraging the e-commerce business, specifically with store pickups, to drive additional sales?A: Jennifer Fall Jung (CFO): Over 70% of online orders are picked up in-store, which drives traffic. For firearm purchases, customers must go to the back of the store, which exposes them to the rest of the merchandise. The biggest opportunity is improving the e-commerce site experience, search functionality, and navigation to increase basket size and attachment rates when customers come in to pick up their orders. Q: Are you expecting the camping and apparel categories to turn positive within the current fiscal year?A: Paul Stone (CEO): Yes, our expectation is to get these categories to flattish to positive based on our current run rate. We are coming off inventory being down 11% and 14% in these categories, and now we are finally able to buy toward newness for the holiday and fall seasons. We are extremely confident compared to where we have been, and we also expect to see margin improvements from the mix in the back half of the year. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved essentially flat same-store sales by offsetting macroeconomic pressures on core customers with a 6.7% increase in hunting and shooting sports. Executed a strategic shift toward a more promotional cadence to maintain value leadership as elevated fuel prices constrained discretionary spending. Improved core product in-stock rates from approximately 50% two years ago to over 80% today, ensuring customers find specific gear for their pursuits. Successfully reduced total inventory by over $44 million year-over-year, clearing aged merchandise in camping and apparel to fund new, seasonally relevant assortments. Leveraged a 3% growth in e-commerce, where over 70% of orders are picked up in-store, to drive physical foot traffic and cross-selling opportunities. Navigated regional performance disparities where Western store declines due to drought conditions were balanced by mid-single-digit growth in Eastern locations. Strengthened the balance sheet by reducing net debt by $26 million and extending the maturity of the ABL term loan and revolving credit facility to June 2031. Reiterated full-year net sales guidance of down 1% to up 1%, assuming persistent consumer pressure from fuel costs and a highly promotional retail environment. Anticipates a recovery in camping and apparel categories in the back half of the year as new, curated fall assortments replace cleared legacy inventory. Expects to generate positive free cash flow to prioritize further debt reduction and maintain financial flexibility through the end of fiscal 2026. Plans to roll out a restaged loyalty program in early 2027 designed to turn shopper data into actionable insights for merchants and marketers. Allocated $20 million to $25 million in capital expenditures primarily for technology investments to improve merchandising productivity and store service. Utilized a one-time tariff refund to reinvest in consumer value, helping to offset the margin impact of increased promotional activity. Identified drought conditions in Western states as a specific headwind for the fishing department, which saw a 2% decline despite strong two-year stack performance. Confirmed the closure of one store by January 31st, with two additional store closures currently under negotiation or in flux for 2027. Noted that while gross margins improved by 50 basis points, the mix shift toward lower-margin firearms and ammunition remains a factor to manage through attachment selling. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management expressed high optimism for the back half because they are entering the season with clean, relevant inventory for the first time in two years. August trends already showed improvement in these categories as new products aligned with specific outdoor pursuits began landing in stores. The refund was described as nominal since private-label goods only represent 3% of the total assortment. Management strategically used these funds to subsidize deeper discounts, maintaining sales momentum while the consumer was particularly tight in May. Firearms and ammunition grew 8% and 11% respectively, which management views as sustainable on a two-year stack basis despite 'micro events' that cause short-term spikes. The company is focusing on 'bundling' and 'attachment' initiatives to drive higher margin dollars from these high-traffic categories. Management confirmed 'extreme high confidence' in ending the year with lower total inventory than 2025. The 10% year-over-year reduction was achieved without sacrificing in-stock levels on core SKUs, which actually improved significantly.

Reduces year-over-year inventory by $44.5 million and year-over-year debt by $26 millionReaffirms full-year 2026 Guidance WEST JORDAN, Utah, Sept. 01, 2026 (GLOBE NEWSWIRE) -- Sportsman’s Warehouse Holdings, Inc. (“Sportsman’s Warehouse” or the “Company”) (Nasdaq: SPWH) today announced financial results for the thirteen weeks ended August 1, 2026. “I was pleased with our second quarter performance, despite a challenging consumer environment. While our customers continue to be selective with discretionary spending, we are encouraged by the progress we are making to strengthen Sportsman’s Warehouse and position the business for long-term profitable growth,” said Paul Stone, President and Chief Executive Officer of Sportsman’s Warehouse. “Our teams have moved with urgency to improve our value proposition, strengthen in-stocks, sharpen our assortment and localization, and deliver a better experience across our stores and digital channels, helping drive nearly 7% growth in our Hunting and Shooting Sports department during the quarter.” “We enter the important fall and holiday seasons with our healthiest inventory position in years, more relevant merchandise, and a stronger balance sheet. While significant work remains, we are building momentum and remain confident in our plans for the second half of the year and our long-term opportunity to establish Sportsman's Warehouse as the leading retailer that combines national scale with local relevance.” For the thirteen weeks ended August 1, 2026: Net sales increased 0.6% to $295.6 million, compared to $293.9 million in the second quarter of fiscal year 2025, while same stores sales in the quarter were flat. Same store sales performance was driven primarily by a 6.7% gain in Hunting and Shooting Sports, led by Firearms and Ammunition, with some additional event-driven demand. Same store sales in our Optics, Electronics, Accessories and Other department increased by 1.0%, compared with the second quarter of fiscal year 2025. Our other categories declined, reflecting continued pressure on the U.S. consumer, and drought conditions in the western U.S. pressuring the fishing department. Gross profit was $96.0 million, or 32.5% of net sales, compared to $93.9 million, or 32.0% of net sales, in the second quarter of fiscal year 2025. The increase, as a percentage of sales, was primarily due to more disciplined inventory management reducing overall freight expense and a one-time tariff benefit, partially offset by category mix shift. Selling, general, and administrative (“SG&A”) expenses were $97.1 million, or 32.9% of net sales, compared to $97.2 million, or 33.1% of net sales, in the second quarter of fiscal year 2025. The decrease in SG&A expenses was primarily driven by decreased depreciation expense. Net loss was $(4.4) million, compared to a net loss of $(7.1) million in the second quarter of fiscal year 2025. Adjusted net loss was $(3.1) million compared to an adjusted net loss of $(4.7) million in the second quarter of fiscal year 2025 (see “Non-GAAP and Other Financial Measures”). Adjusted EBITDA was $8.7 million, compared to $8.3 million in the second quarter of fiscal year 2025 (see “Non-GAAP and Other Financial Measures”). Diluted loss per share was $(0.11) compared to a diluted loss per share of $(0.18) in the second quarter of fiscal year 2025. Adjusted diluted loss per share was $(0.08) compared to adjusted diluted loss per share of $(0.12) in the second quarter of fiscal year 2025 (see “GAAP and Non-GAAP Financial Measures”). For the twenty-six weeks ended August 1, 2026: Net sales were $551.7 million, an increase of 1.6%, compared to the first six months of fiscal year 2025. The net sales increase was primarily due to increased sales in our Hunting and Shooting Sports department led by firearms and ammunition, with some additional event-driven demand. Additionally, sales in our Fishing department are up nearly 1%. This increase led to a same store sales increase of 1.0% compared to the first six months of fiscal year 2025. Gross profit was $171.8 million or 31.1% of net sales, compared to $169.6 million or 31.2% of net sales for the first six months of fiscal 2025. This decrease, as a percentage of net sales, was primarily due to unfavorable department level mix and rates, partially offset by lower freight from improved inventory management and a one-time tariff benefit. SG&A expenses decreased to $191.0 million or 34.6% of net sales, compared with $192.4 million or 35.4% of net sales for the first six months of fiscal year 2025, due to a decrease in depreciation expense, partially offset by increases in rent and other operating expenses. Net loss was $(26.3) million, compared to net loss of $(28.3) million in the prior year period. Adjusted net loss was $(18.2) million, compared to adjusted net loss of $(20.3) million in the first six months of fiscal year 2025 (see “GAAP and Non-GAAP Financial Measures”). Adjusted EBITDA was $0.6 million compared to $(0.7) million in the first six months of fiscal year 2025 (see “GAAP and Non-GAAP Financial Measures”). Diluted loss per share was $(0.68), compared to diluted loss per share of $(0.74) in the first six months of fiscal year 2025. Adjusted diluted loss per share was $(0.47), compared to adjusted diluted loss per share of $(0.53) in the corresponding prior-year period (see “GAAP and Non-GAAP Financial Measures”). Balance sheet and capital allocation highlights as of August 1, 2026: The Company ended the second quarter with net debt of $167.0 million, comprised of $2.0 million of cash on hand, $43.9 million of net borrowings outstanding under the Company’s term loan facility and $125.1 million of net borrowings outstanding under the Company’s revolving credit facility. Total inventory at the end of the second quarter was $399.0 million, a decrease of $44.5 million compared to last year, reflecting our strategy to improve seasonally timed inventory and gain additional efficiency in our operating model. Total liquidity was $105.0 million as of the end of the second quarter of fiscal year 2026, comprised of $103.0 million of availability on the term loan and revolving credit facilities and $2.0 million of cash and cash equivalents. Fiscal Year 2026 Outlook: For fiscal year 2026, the Company is reiterating its guidance and estimates same store sales to be in the range of down 1.0% to up 2.0% and adjusted EBITDA to be in the range of $30 million to $36 million. The Company also expects capital expenditures for 2026 to be in the range of $20 million to $25 million, primarily consisting of technology investments and general store maintenance. There are no new store openings planned for 2026. “We made meaningful progress in the second quarter, with sales essentially flat, a 50-basis-point improvement in gross margin and continued disciplined management of expenses and inventory,” said Jennifer Fall Jung, Chief Financial Officer of Sportsman’s Warehouse. “Our inventory is down $44.5 million, or 10%, year over year, and we reduced net debt by $26 million while maintaining $105 million of liquidity. These improvements reflect the team’s focus on working capital, cost discipline and positioning the business for the back half of the year. While we continue to operate in a challenging consumer environment, we are entering the second half of the year with a healthier balance sheet, improved inventory efficiency and a refreshed assortment. We remain committed to generating positive free cash flow, reducing debt and creating a stronger financial foundation for sustainable, profitable growth.” The Company has not reconciled expected adjusted EBITDA for fiscal year 2026 to GAAP net income because the Company does not provide guidance for net (loss) income and is not able to provide a reconciliation to net (loss) income without unreasonable effort. The Company is not able to estimate net (loss) income on a forward-looking basis without unreasonable efforts due to the variability and complexity with respect to the charges excluded from adjusted EBITDA. Conference Call Information: A conference call to discuss second quarter 2026 financial results is scheduled for September 1, 2026, at 5:00 PM Eastern Time. The conference call will be held via webcast and may be accessed via the Investor Relations section of the Company’s website at www.sportsmans.com. Non-GAAP and Other Financial Measures This press release includes the following financial measures defined as non-GAAP financial measures by the Securities and Exchange Commission (the “SEC”) and that are not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”): adjusted net (loss) income, adjusted diluted (loss) earnings per share and adjusted EBITDA. The Company defines adjusted net (loss) income as net (loss) income plus management transition costs, executive retention costs, legal accrual, valuation allowance, and income tax expense (benefit). Net (loss) income is the most comparable GAAP financial measure to adjusted net (loss) income. The Company defines adjusted diluted (loss) earnings per share as adjusted net (loss) income divided by diluted weighted average shares outstanding. Diluted (loss) earnings per share is the most comparable GAAP financial measure to adjusted diluted (loss) earnings per share. The Company defines adjusted EBITDA as net (loss) income plus interest expense, income tax expense (benefit), depreciation and amortization, stock-based compensation expense, management transition costs, executive retention costs and legal accrual. Net (loss) income is the most comparable GAAP financial measure to adjusted EBITDA. The Company has reconciled these non-GAAP financial measures to the most directly comparable GAAP financial measures under “GAAP and Non-GAAP Financial Measures” in this release. The Company believes that these non-GAAP financial measures not only provide its management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors and are frequently used by analysts, investors and other interested parties in the evaluation of companies in the Company’s industry. Specifically, these non-GAAP financial measures allow investors to better understand the performance of the Company’s business and facilitate a more meaningful comparison of its diluted (loss) earnings per share and actual results on a period-over-period basis. The Company has provided this information as a means to evaluate the results of its ongoing operations.  Management uses this information as additional measurement tools for purposes of business decision-making, including evaluating store performance, developing budgets and managing expenditures. Other companies in the Company’s industry may calculate these items differently than the Company does. Each of these measures is not a measure of performance under GAAP and should not be considered as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. The Company’s management believes that these non-GAAP financial measures allow investors to evaluate the Company’s operating performance and compare its results of operations from period to period on a consistent basis by excluding items that management does not believe are indicative of the Company’s core operating performance. The presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that the Company’s future results, cash flows or leverage will be unaffected by other unusual or non-recurring items. As noted above, the Company has not provided a reconciliation of fiscal year 2026 guidance for adjusted EBITDA, in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. The Company is unable, without unreasonable efforts, to forecast certain items required to develop meaningful comparable GAAP financial measures, including stock-based compensation expense and income tax expense (benefit) that are difficult to predict in order to include in a GAAP estimate. The Company defines net debt as borrowings outstanding under the Company’s revolving credit facility and term loan facility less cash and cash equivalents. The Company defines total liquidity as total availability under the Company’s revolving credit facility plus cash and cash equivalents. Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements in this release include, but are not limited to, statements regarding our efforts to generate positive free cash flow, reduce debt and create a stronger financial foundation for sustainable, profitable growth; our expectations regarding momentum in our business and our ability to establish the Company as a leading retailer that combines national scale with local relevance; the impact of our strategic initiatives; and our guidance for Adjusted EBITDA, as well as same store sales and capital expenditures for fiscal year 2026 and the number of store openings in 2026. Investors can identify these statements by the fact that they use words such as “aim,” “anticipate,” “assume,” “believe,” “can have,” “could,” “due,” “estimate,” “expect,” “goal,” “intend,” “likely,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “should,” “target,” “will,” “would” and similar terms and phrases. These forward-looking statements are based on current expectations, estimates, forecasts and projections about our business and the industry in which we operate and our management’s beliefs and assumptions. We derive many of our forward-looking statements from our own operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that predicting the impact of known factors is very difficult, and we cannot anticipate all factors that could affect our actual results. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to many factors including, but not limited to: current and future government regulations, in particular regulations relating to the sale of firearms and ammunition, which may negatively impact the demand for the Company’s products and ability to conduct its business; the Company’s retail-based business model, which is impacted by general economic and market conditions such as elevated interest rates, inflationary pressures and economic, market and financial uncertainties that may cause a decline in consumer spending; the Company’s concentration of stores in the Western United States which makes the Company susceptible to adverse conditions in this region, and could affect the Company’s sales and cause its operating results to suffer; the highly fragmented and competitive industry in which the Company operates and the potential for increased competition; changes in consumer demands, including regional preferences, which we may not be able to identify and respond to in a timely manner; the Company’s entrance into new markets or operations in existing markets, including the Company’s long-term strategy to open new stores in future periods, which may not be successful; the costs to close underperforming stores, if the Company decides to do so, which costs may be significant; stringent and evolving U.S. obligations related to data privacy and security; impact of general macroeconomic conditions, such as labor shortages, inflation, elevated interest rates, the impacts of tariffs and trade disputes, economic slowdowns, and recessions or market corrections; and other factors that are set forth in the Company’s filings with the SEC, including under the caption “Risk Factors” in the Company’s Form 10-K for the fiscal year ended January 31, 2026, which was filed with the SEC on March 31, 2026, and the Company’s other public filings made with the SEC and available at www.sec.gov. If one or more of these risks or uncertainties materialize, or if any of the Company’s assumptions prove incorrect, the Company’s actual results may vary in material respects from those projected in these forward-looking statements. Any forward-looking statement made by the Company in this release speaks only as of the date on which the Company makes it. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. About Sportsman’s Warehouse Holdings, Inc. Sportsman’s Warehouse Holdings, Inc. is an outdoor specialty retailer focused on meeting the needs of the seasoned outdoor veteran, the first-time participant, and everyone in between. We provide outstanding gear and exceptional service to inspire outdoor memories. For press releases and certain additional information about the Company, visit the Investor Relations section of the Company's website at www.sportsmans.com. Investor Contact: Riley TimmerVice President, Strategic Programs & Investor Relations Sportsman’s Warehouse(801) [email protected] SPORTSMAN’S WAREHOUSE HOLDINGS, INC.Condensed Consolidated Statements of Operations (Unaudited)(amounts in thousands, except per share data) SPORTSMAN’S WAREHOUSE HOLDINGS, INC.Condensed Consolidated Balance Sheets (Unaudited)(amounts in thousands, except par value data) SPORTSMAN’S WAREHOUSE HOLDINGS, INC.Condensed Consolidated Statements Cash Flows (Unaudited)(amounts in thousands) SPORTSMAN’S WAREHOUSE HOLDINGS, INC.GAAP and Non-GAAP Financial Measures (Unaudited)(amounts in thousands, except per share data) SPORTSMAN’S WAREHOUSE HOLDINGS, INC.GAAP and Non-GAAP Financial Measures (Unaudited)(amounts in thousands, except per share data)

Outdoor specialty retailer Sportsman's Warehouse (NASDAQ:SPWH) will be announcing earnings results this Tuesday after market close. Here’s what to expect. Sportsman's Warehouse beat analysts’ revenue expectations last quarter, reporting revenues of $256.1 million, up 2.8% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates. Is Sportsman's Warehouse a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members. This quarter, the market is expecting Sportsman's Warehouse’s revenue to be flat year on year, slowing from the 1.8% increase it recorded in the same quarter last year. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Sportsman's Warehouse rarely misses Wall Street’s revenue estimates. Looking at Sportsman's Warehouse’s peers in the specialty retail segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Dick's delivered year-on-year revenue growth of 53.2%, missing analysts’ expectations by 0.9%, and Best Buy reported revenues up 3.6%, topping estimates by 2.1%. Dick's traded down 27.5% following the results while Best Buy was also down 5.6%. Read our full analysis of Dick’s results here and Best Buy’s results here. Over the past year, investors have repeatedly shifted their focus from one macro narrative to another (AI disruption and AI capex spending to geopolitics, interest rates, and the broader health of the economy). While some of the specialty retail stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.6% on average over the last month. Sportsman's Warehouse’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $2.92 (compared to the current share price of $1.14). ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable. These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.

Urban Outfitters (URBN) came out with quarterly earnings of $1.72 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $1.58 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this clothing and accessories retailer would post earnings of $1.12 per share when it actually produced earnings of $1.3, delivering a surprise of +16.07%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Urban Outfitters, which belongs to the Zacks Retail - Apparel and Shoes industry, posted revenues of $1.66 billion for the quarter ended July 2026, surpassing the Zacks Consensus Estimate by 0.83%. This compares to year-ago revenues of $1.5 billion. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Urban Outfitters shares have added about 0.7% since the beginning of the year versus the S&P 500's gain of 12.2%. While Urban Outfitters has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Urban Outfitters was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.50 on $1.64 billion in revenues for the coming quarter and $6.13 on $6.71 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Apparel and Shoes is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Sportsman's Warehouse (SPWH), is yet to report results for the quarter ended July 2026. The results are expected to be released on September 1. This outdoor sporting goods specialty retailer is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of +8.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Sportsman's Warehouse's revenues are expected to be $295.2 million, up 0.4% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Urban Outfitters, Inc. (URBN) : Free Stock Analysis Report Sportsman's Warehouse Holdings, Inc. (SPWH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved a 2.1% same-store sales increase by prioritizing core pursuits of hunting, fishing, and shooting sports, which offset softness in discretionary categories. Hunting and shooting sports grew over 7% driven by successful event-based demand and a strategic focus on personal protection and firearms authority. Intentionally reduced inventory in camping and softlines to exit low-margin, slow-moving products and reallocate working capital toward high-demand core categories. E-commerce growth of over 6% was fueled by enhanced digital experiences in the fishing category and a natural store-traffic advantage from firearm pickup requirements. Shifted from transactional selling to a 'solution bundling' strategy, offering curated pairings like gun safes and service plans to increase basket size and gross margin. Implemented a new loyalty partnership with Epsilon to transition toward a higher-value customer model focused on lifetime value and disciplined promotions. Reiterated full-year net sales guidance of (1%) to 2% growth, assuming continued pressure on discretionary spending from high fuel costs. Expects adjusted EBITDA between $30 million and $36 million, supported by improved inventory discipline and ongoing expense management. Prioritizing debt reduction as the top capital allocation goal, utilizing positive free cash flow generated from inventory efficiency and variable cost control. Anticipates lower average inventory levels throughout 2026 by refining receipt timing to match seasonal demand and eliminating slow-moving SKUs. Planned capital expenditures of $20 million to $25 million will focus on technology investments to enhance store service and merchandising productivity. Gross margin declined 80 basis points to 29.6%, primarily due to a higher sales mix of lower-margin firearms and ammunition. SG&A expenses decreased as a percentage of sales due to disciplined payroll management and lower depreciation, partially offset by new bonus accruals. Inventory was reduced by $25.1 million year-over-year, reflecting a strategic shift toward faster-turning, regionally relevant merchandise. Management identified high fuel prices as a specific headwind impacting both consumer discretionary spending and internal freight costs. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management noted that while March and April outperformed the prior year, May has shown a trend toward stabilization following event-driven peaks. The company remains optimistic for June, citing Father's Day as a major historical driver for their core customer base. The company is addressing historical underinvestment in digital by refining the online shopping experience for fishing and fly-fishing specifically. Future e-commerce initiatives will focus on 'solution-based' selling for the hunting season to reduce the transactional burden on in-store outfitters. Softness in the camping category was attributed to cold, wet weather and the intentional exit from low-margin subcategories. Management is now taking seasonal markdowns earlier than historically practiced to ensure inventory remains fresh and working capital is optimized.

This article first appeared on GuruFocus. Release Date: June 02, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Same-store sales increased by over 2% in the first quarter, building on the previous year's growth. Hunting and shooting sports department sales rose by over 7% compared to last year. E-commerce sales grew by over 6%, highlighting the strength of the omnichannel model. The company successfully executed a spring range days event, boosting demand for firearms and ammunition. Partnership with a top fishing and hunting lifestyle brand, Build and String, is showing early positive results. Gross margin declined to 29.6% from 30.4% due to a higher penetration of lower-margin firearms and ammunition. Net loss for the first quarter was $21.8 million, consistent with the previous year's loss. Camping and soft line departments faced pressure due to consumer spending constraints and elevated fuel prices. The company is experiencing headwinds in fuel costs, impacting overall expenses. Inventory management remains a challenge, with a focus on improving seasonal inventory timing and eliminating slow-moving inventory. Warning! GuruFocus has detected 7 Warning Signs with SPWH. Is SPWH fairly valued? Test your thesis with our free DCF calculator. Q: Could you provide more insight into the trends you're seeing in the shooting sports category, particularly regarding event-driven demand versus underlying category strength? A: Jennifer Paul Young, CFO: We observed strength across the quarter in the shooting sports category, with March and April outperforming the prior year. While February was weaker due to strategic decisions, the category showed stabilization in May, and we feel confident about its performance in Q2. Q: Can you elaborate on the overall trends you're seeing in May? A: Jennifer Paul Young, CFO: Our business remains healthy, with hunting and shooting sports driving Q1 performance. June is a significant month for us, with Father's Day and related promotions expected to boost sales. Q: Could you discuss the factors affecting gross profit margin, which was down 80 basis points? A: Jennifer Paul Young, CFO: The decline was primarily due to category mix, with a higher penetration of firearms and ammunition. We are also taking markdowns sooner across other categories, contributing to the pressure. Q: How is the e-commerce segment performing, and what are your future expectations? A: Paul Stone, CEO: Our e-commerce business is well-positioned, particularly in the fishing category. We've made significant improvements to the online experience and plan to enhance solution-based selling, especially for hunting and firearms, to drive growth. Q: What are the current challenges and strategies in the camping category? A: Paul Stone, CEO: The camping category has been soft due to weather conditions and strategic inventory adjustments. We've shifted focus to core pursuits like hunting and fishing, and feel confident about our inventory position for the summer. Q: Can you provide more details on SG&A savings and any labor efficiencies? A: Jennifer Paul Young, CFO: SG&A savings were primarily driven by payroll efficiencies and inventory management. We are also seeing some headwinds in fuel costs, but these are offset by inventory efficiencies. Q: What is driving the expected year-over-year decline in inventory? A: Jennifer Paul Young, CFO: The decline is due to multiple factors, including better inventory placement, timely seasonal markdowns, and focusing on faster-moving SKUs. These strategies help improve inventory efficiency and working capital management. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

2.1% increase to Q1 same store sales, Reaffirms full-year 2026 Guidance WEST JORDAN, Utah, June 02, 2026 (GLOBE NEWSWIRE) -- Sportsman’s Warehouse Holdings, Inc. (“Sportsman’s Warehouse” or the “Company”) (Nasdaq: SPWH) today announced financial results for the thirteen weeks ended May 2, 2026. “I’m pleased with our first quarter performance, as same store sales increased 2.1% compared to last year, despite continued consumer economic pressure and higher fuel prices,” said Paul Stone, President and Chief Executive Officer of Sportsman’s Warehouse. “During the first quarter, we successfully executed our spring Range Days event, highlighting key products and leading brands across our personal protection and shooting sports categories. Combined with external event-driven demand, these efforts contributed to strong growth in hunting and shooting sports. Our e-commerce business also delivered strong results this quarter, with sales increasing by over 6% compared to last year. As part of our 2026 strategy, we continue to enhance the online shopping and website experience, and we are encouraged by the early results. Looking ahead, we remain focused on driving profitable growth, maintaining disciplined inventory management, and generating positive free cash flow to further strengthen our balance sheet through debt reduction.” For the thirteen weeks ended May 2, 2026: Net sales increased 2.8% to $256.1 million, compared to $249.1 million in the first quarter of fiscal year 2025. Performance was driven primarily by a 7.4% gain in Hunting and Shooting Sports, led by firearms, ammunition, and less-lethal personal protection, with some additional event-driven demand. Fishing rose 6.0%, driven by seasonal demands as customers prepared for the spring fishing season. Our other categories declined, reflecting continued pressure on the U.S. consumer. Gross profit was $75.8 million, or 29.6% of net sales, compared to $75.6 million, or 30.4% of net sales, in the first quarter of fiscal year 2025. The decrease, as a percentage of sales, was primarily driven by category mix. Selling, general, and administrative (“SG&A”) expenses were $93.9 million, or 36.7% of net sales, compared to $95.3 million, or 38.2% of net sales, in the first quarter of fiscal year 2025. The decrease in SG&A was primarily driven by decreased payroll expense as we emphasize disciplined cost control and lower depreciation expense. Net loss was $(21.8) million, compared to a net loss of $(21.3) million in the first quarter of fiscal year 2025. Adjusted net loss was $(15.1) million compared to an adjusted net loss of $(15.6) million in the first quarter of fiscal year 2025 (see “Non-GAAP and Other Financial Measures”). Adjusted EBITDA was $(8.1) million, compared to $(9.0) million in the first quarter of fiscal year 2025 (see “Non-GAAP and Other Financial Measures”). Diluted loss per share was $(0.56) compared to a diluted loss per share of $(0.56) in the corresponding prior-year period. Adjusted diluted loss per share was $(0.39) compared to adjusted diluted loss per share of $(0.41) in the first quarter of fiscal year 2025 (see “GAAP and Non-GAAP Financial Measures”). Balance sheet and capital allocation highlights as of May 2, 2026: The Company ended the first quarter with net debt of $148.4 million, comprised of $2.1 million of cash on hand, $44.3 million of net borrowings outstanding under the Company’s term loan facility and $106.2 million of net borrowings outstanding under the Company’s revolving credit facility. Total inventory at the end of the first quarter was $387.1 million, a decrease of $25.1 million compared to last year, reflecting our strategy to improve seasonally timed inventory and gain additional efficiency in our operating model. Total liquidity was $116.7 million as of the end of the first quarter of fiscal year 2026, comprised of $114.6 million of availability on the term loan and revolving credit facilities and $2.1 million of cash and cash equivalents. Fiscal Year 2026 Outlook: For fiscal year 2026, the Company is reiterating its guidance and estimates same store sales to be in the range of down 1.0% to up 2.0% and adjusted EBITDA to be in the range of $30 million to $36 million. The Company also expects capital expenditures for 2026 to be in the range of $20 million to $25 million, primarily consisting of technology investments and general store maintenance. There are no new store openings planned for 2026. “We delivered a solid start to the year, with first quarter net sales increasing 2.8% and same store sales growing 2.1% compared to last year,” said Jennifer Fall Jung, Chief Financial Officer of Sportsman’s Warehouse. “While category mix pressured gross margin, we continued to execute with discipline across the business, delivering SG&A leverage and improved adjusted EBITDA compared to last year. We also made continued progress on our inventory efficiency initiatives, reducing inventory levels by more than 6% year-over-year, while improving the alignment of receipts with seasonal demand. Our focus remains on driving profitable sales growth, tightly managing expenses and inventory, and generating positive free cash flow to reduce debt and strengthen the balance sheet. Despite continued pressure on the US consumer and higher fuel prices, we remain confident in our strategy for 2026.” The Company has not reconciled expected adjusted EBITDA for fiscal year 2026 to GAAP net income because the Company does not provide guidance for net (loss) income and is not able to provide a reconciliation to net (loss) income without unreasonable effort. The Company is not able to estimate net (loss) income on a forward-looking basis without unreasonable efforts due to the variability and complexity with respect to the charges excluded from adjusted EBITDA. Conference Call Information: A conference call to discuss first quarter 2026 financial results is scheduled for June 2, 2026, at 5:00 PM Eastern Time. The conference call will be held via webcast and may be accessed via the Investor Relations section of the Company’s website at www.sportsmans.com. Non-GAAP and Other Financial Measures This press release includes the following financial measures defined as non-GAAP financial measures by the Securities and Exchange Commission (the “SEC”) and that are not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”): adjusted net (loss) income, adjusted diluted (loss) earnings per share and adjusted EBITDA. The Company defines adjusted net (loss) income as net (loss) income plus executive transition costs, cancelled contract expenses, legal expenses, valuation allowance, impairment costs and income tax expense (benefit). Net (loss) income is the most comparable GAAP financial measure to adjusted net (loss) income. The Company defines adjusted diluted (loss) earnings per share as adjusted net (loss) income divided by diluted weighted average shares outstanding. Diluted (loss) earnings per share is the most comparable GAAP financial measure to adjusted diluted (loss) earnings per share. The Company defines adjusted EBITDA as net (loss) income plus interest expense, income tax expense (benefit), depreciation and amortization, stock-based compensation expense, executive transition costs and executive retention costs. Net (loss) income is the most comparable GAAP financial measure to adjusted EBITDA. The Company has reconciled these non-GAAP financial measures to the most directly comparable GAAP financial measures under “GAAP and Non-GAAP Financial Measures” in this release. The Company believes that these non-GAAP financial measures not only provide its management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors and are frequently used by analysts, investors and other interested parties in the evaluation of companies in the Company’s industry. Specifically, these non-GAAP financial measures allow investors to better understand the performance of the Company’s business and facilitate a more meaningful comparison of its diluted (loss) earnings per share and actual results on a period-over-period basis. The Company has provided this information as a means to evaluate the results of its ongoing operations. Management uses this information as additional measurement tools for purposes of business decision-making, including evaluating store performance, developing budgets and managing expenditures. Other companies in the Company’s industry may calculate these items differently than the Company does. Each of these measures is not a measure of performance under GAAP and should not be considered as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. The Company’s management believes that these non-GAAP financial measures allow investors to evaluate the Company’s operating performance and compare its results of operations from period to period on a consistent basis by excluding items that management does not believe are indicative of the Company’s core operating performance. The presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that the Company’s future results, cash flows or leverage will be unaffected by other unusual or non-recurring items. As noted above, the Company has not provided a reconciliation of fiscal year 2026 guidance for adjusted EBITDA, in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. The Company is unable, without unreasonable efforts, to forecast certain items required to develop meaningful comparable GAAP financial measures, including stock-based compensation expense and income tax expense (benefit) that are difficult to predict in order to include in a GAAP estimate. The Company defines net debt as borrowings outstanding under the Company’s revolving credit facility and term loan facility less cash and cash equivalents. The Company defines total liquidity as total availability under the Company’s revolving credit facility plus cash and cash equivalents. Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements in this release include, but are not limited to, statements regarding our efforts to drive profitable growth, tightly manage inventory and expenses, and generate positive free cash flow; our expectations regarding momentum in our business; the impact of our strategic initiatives; and our guidance for same store sales and capital expenditures for fiscal year 2026; the number of store openings in 2026. Investors can identify these statements by the fact that they use words such as “aim,” “anticipate,” “assume,” “believe,” “can have,” “could,” “due,” “estimate,” “expect,” “goal,” “intend,” “likely,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “should,” “target,” “will,” “would” and similar terms and phrases. These forward-looking statements are based on current expectations, estimates, forecasts and projections about our business and the industry in which we operate and our management’s beliefs and assumptions. We derive many of our forward-looking statements from our own operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that predicting the impact of known factors is very difficult, and we cannot anticipate all factors that could affect our actual results. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to many factors including, but not limited to: current and future government regulations, in particular regulations relating to the sale of firearms and ammunition, which may negatively impact the demand for the Company’s products and ability to conduct its business; the Company’s retail-based business model, which is impacted by general economic and market conditions such as elevated interest rates, inflationary pressures and economic, market and financial uncertainties that may cause a decline in consumer spending; the Company’s concentration of stores in the Western United States which makes the Company susceptible to adverse conditions in this region, and could affect the Company’s sales and cause its operating results to suffer; the highly fragmented and competitive industry in which the Company operates and the potential for increased competition; changes in consumer demands, including regional preferences, which we may not be able to identify and respond to in a timely manner; the Company’s entrance into new markets or operations in existing markets, including the Company’s long-term strategy to open new stores in future periods, which may not be successful; the costs to close underperforming stores, if the Company decides to do so, which costs may be significant; stringent and evolving U.S. obligations related to data privacy and security; impact of general macroeconomic conditions, such as labor shortages, inflation, elevated interest rates, the impacts of tariffs and trade disputes, economic slowdowns, and recessions or market corrections; and other factors that are set forth in the Company’s filings with the SEC, including under the caption “Risk Factors” in the Company’s Form 10-K for the fiscal year ended January 31, 2026, which was filed with the SEC on March 31, 2026, and the Company’s other public filings made with the SEC and available at www.sec.gov. If one or more of these risks or uncertainties materialize, or if any of the Company’s assumptions prove incorrect, the Company’s actual results may vary in material respects from those projected in these forward-looking statements. Any forward-looking statement made by the Company in this release speaks only as of the date on which the Company makes it. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. About Sportsman’s Warehouse Holdings, Inc. Sportsman’s Warehouse Holdings, Inc. is an outdoor specialty retailer focused on meeting the needs of the seasoned outdoor veteran, the first-time participant, and everyone in between. We provide outstanding gear and exceptional service to inspire outdoor memories. For press releases and certain additional information about the Company, visit the Investor Relations section of the Company's website at www.sportsmans.com. Investor Contact: Riley TimmerVice President, Strategic Programs & Investor Relations Sportsman’s Warehouse(801) [email protected]