Sportsman’s Warehouse Holdings, Inc. reported a net loss of $21.8 million for the first quarter of fiscal year 2026, which ended on May 2, 2026, compared to a net loss of $21.3 million for the same period in fiscal year 2025. The company’s net sales increased by 2.8% to $256.1 million, up from $249.1 million in the prior year, driven primarily by growth in the Hunting and Shooting Sports and Fishing departments. Gross profit remained relatively stable at $75.8 million, with a slight decrease in gross margin to 29.6% from 30.4% due to a shift in product mix and lower sales in higher-margin categories.
In terms of operational metrics, Sportsman’s Warehouse operated 147 stores across 32 states as of the end of the reporting period. The company reported a 2.1% increase in same-store sales, reflecting improved performance in its Hunting and Shooting Sports and Fishing departments, which saw increases of 6.3% and 5.7%, respectively. However, other departments, including Camping and Footwear, experienced declines, indicating ongoing pressures on consumer spending. E-commerce sales accounted for approximately 23% of total sales during the quarter.
The company’s selling, general, and administrative expenses decreased by 1.4% to $93.9 million, primarily due to reduced payroll and depreciation expenses. Interest expense also declined by 11.7% to $2.6 million, attributed to lower debt levels compared to the previous year. As of May 2, 2026, Sportsman’s Warehouse had cash and cash equivalents of $2.1 million and working capital of $61.9 million, with $114.6 million available for borrowing under its revolving credit facility.
Looking ahead, Sportsman’s Warehouse plans to close approximately five underperforming stores and does not intend to open new locations in fiscal year 2026 as it reassesses its expansion strategy. The company aims to prioritize capital allocation towards technology investments and debt repayment. The ongoing macroeconomic environment, characterized by inflation and elevated interest rates, continues to pose challenges, and the company remains cautious in its outlook for the remainder of the fiscal year.
About SPORTSMAN'S WAREHOUSE HOLDINGS, INC.
Sportsman’s Warehouse is a leading outdoor sporting goods retailer specializing in hunting, fishing, camping, and shooting products. It offers a broad, locally tailored merchandise selection, expert customer service, and an omni-channel shopping experience through retail stores and e-commerce. The company emphasizes value pricing, technical support services, community engagement, and flexible store formats to serve outdoor enthusiasts across the U.S.
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