Sportsman’s Warehouse Reports 2.2% Revenue Growth in Q3 Fiscal Year 2025

Sportsman’s Warehouse Holdings, Inc. reported a modest increase in financial performance for the third quarter of fiscal year 2025, ending November 1, 2025. The company achieved net sales of $331.3 million, a 2.2% increase from $324.3 million in the same period of the previous fiscal year. Gross profit also rose to $108.7 million, reflecting a 5.5% increase compared to $103.1 million in the prior year. The gross margin improved to 32.8%, up from 31.8%, primarily due to stronger product margins and improved inventory management.

In terms of profitability, Sportsman’s Warehouse reported a net income of $8, a slight recovery from a net loss of $364,000 in the third quarter of fiscal year 2024. However, the company continues to face challenges, with a net loss of $28.3 million for the first 39 weeks of fiscal year 2025, compared to a loss of $24.3 million in the same period last year. The increase in selling, general, and administrative expenses, which rose by 4.5% to $104.5 million, contributed to the ongoing losses, driven by higher payroll costs and non-recurring expenses.

Operationally, the company maintained a total of 146 stores across 32 states as of the end of the reporting period. E-commerce sales accounted for approximately 19% of total sales, reflecting an 8% increase year-over-year, attributed to a new digital-first marketing strategy. The company’s focus on inventory management and seasonal sales strategies in the Hunting and Shooting, Fishing, and Apparel departments contributed to the sales growth, while categories such as Camping and Footwear saw declines.

Looking ahead, Sportsman’s Warehouse plans to open one new store in fiscal year 2025, a reduction from previous expansion plans due to macroeconomic uncertainties and consumer spending pressures. The company is also actively monitoring the impact of inflation, interest rates, and potential changes in government regulations on its operations. With cash and cash equivalents of $2.2 million and $109.7 million available under its revolving credit facility, the company believes it has sufficient liquidity to meet its operational needs in the near term. However, it remains cautious about the potential impact of external economic factors on its financial performance.