Sportsman's Warehouse Sees FY26 Same Store Sales Down 1% to Up 2%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 11 hours ago
0mins
Should l Buy SPWH?
Sees FY26 same store sales down 1% to up 2%. Sees FY26 capital expenditures $20M-$25M. "We were encouraged by our performance in 2025, particularly our return to positive comparable sales growth," said Jennifer Fall Jung, CFO of Sportsman's Warehouse. "We strengthened our balance sheet through disciplined inventory management, reducing inventory by 8.5%, while improving its quality and productivity. This, combined with focused expense management, allowed us to generate positive free cash flow, pay down our debt, and enhance overall liquidity. We are approaching the year with a balanced outlook. Our strategic initiatives are firmly in motion and we believe the actions we've taken position us to drive profitable growth, improve returns, and continue strengthening the balance sheet. Following the comprehensive review of our store fleet, we expect to close approximately five locations over the next 12 months. These closures are anticipated to occur after the holiday season, and as such, we do not expect a material impact to this year's results."
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy SPWH?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on SPWH
Wall Street analysts forecast SPWH stock price to rise
5 Analyst Rating
4 Buy
1 Hold
0 Sell
Strong Buy
Current: 1.300
Low
2.00
Averages
2.95
High
4.00
Current: 1.300
Low
2.00
Averages
2.95
High
4.00
About SPWH
Sportsman's Warehouse Holdings, Inc. is an outdoor sporting goods retailer. The Company has an outdoor specialty store base in the Western United States and Alaska. The Company’s stores are organized into six departments, which include camping; apparel; fishing; footwear; hunting and shooting, and optics, electronics, accessories, and other. Its camping department offers backpacks, camp essentials, canoes and kayaks, coolers, outdoor cooking equipment, sleeping bags, tents and tools. Its apparel departments offer camouflage, jackets, hats, outerwear, sportswear, technical gear and work wear. The fishing departments offer bait, electronics, fishing rods, flotation items, fly fishing, lines, lures, reels, tackle and small boats. The footwear departments offer hiking boots, socks, sport sandals, technical footwear, trail shoes, casual shoes, waders and work boots. Optics, electronics, accessories, and other departments offer gift items, knives, lighting, optics, two-way radios, and more.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Sportsman's Warehouse Q4 2025 Earnings Call Highlights
- Sales Trend Recovery: Sportsman's Warehouse reported Q4 2025 net sales of $334.9 million, with comparable store sales down 1.8%; however, CEO Paul Stone noted this marks the first year of positive comps since 2020, representing a significant milestone in the company's turnaround efforts.
- Inventory Management Improvement: CFO Jennifer Fall Jung reported a year-end inventory reduction of $29.1 million, an 8.5% decrease, alongside net debt of $90 million and total liquidity of $107.8 million, indicating positive progress in cash flow management.
- Cautious Future Outlook: The CFO guided that same-store sales for 2026 are expected to range from down 1% to up 2%, with adjusted EBITDA projected between $30 million and $36 million, while planning to close approximately 5 underperforming stores in the next 12 months, with minimal impact anticipated on this year's results.
- Strategic Development Plans: The company aims to upgrade its loyalty rewards program, introduce firearm solution bundling, and reinvent the omnichannel fishing experience, with a goal to double its fishing market share over the next 3 to 4 years, demonstrating a strong commitment to growth in market share.
See More
Sportsman's Warehouse to Release Q4 Earnings
- Earnings Release Date: Sportsman's Warehouse Holdings is set to release its Q4 earnings on March 31, with investors keenly awaiting performance metrics to assess the company's future growth potential.
- Expected Loss: Analysts forecast a quarterly loss of 10 cents per share, indicating challenges the company faces in the current market environment, which may negatively impact stock prices.
- Revenue Estimate: The anticipated revenue for Q4 stands at $334.88 million, which, despite the expected loss, reflects a degree of sales stability that could lay the groundwork for future recovery.
- Market Reaction: Investors should closely monitor market reactions following the earnings release, particularly how the company addresses its current financial challenges and outlines future growth strategies.
See More
Sportsman's Warehouse Set to Announce Q4 Earnings
- Earnings Announcement Date: Sportsman's Warehouse (SPWH) is set to release its Q4 earnings on March 31st after market close, with consensus EPS estimate at -$0.10, reflecting a staggering 350% year-over-year decline, while revenue is projected at $334.88 million, down 1.6% year-over-year, indicating significant challenges ahead for the company.
- Historical Performance Review: Over the past two years, Sportsman's Warehouse has beaten EPS estimates 63% of the time and revenue estimates 75% of the time, demonstrating a degree of resilience in financial performance despite current downward pressures.
- Expectation Revision Dynamics: In the last three months, EPS estimates have seen four upward revisions and no downward adjustments, while revenue estimates experienced three upward revisions and one downward, indicating analysts' growing confidence in the company's future performance, even as overall expectations remain weak.
- Market Reaction: The stock price of Sportsman's Warehouse has surged significantly in Q4 due to strong firearm sales, reflecting market optimism regarding its financial results, which may influence investor decisions moving forward.
See More
Sportsman's Warehouse Reports Strong Q4 Sales
- Strong Sales Performance: Sportsman's Warehouse reported approximately $334.9 million in net sales for Q4, demonstrating robust demand and a stable customer base in the market compared to the previous year.
- Same-Store Sales Growth: Same-store sales reached approximately $333.6 million, indicating continued strong performance in existing stores and reflecting consumer loyalty and recognition of the company's products.
- Adjusted EBITDA Results: The company achieved an adjusted EBITDA of approximately $9.6 million, showcasing a degree of profitability despite increased promotional pressures, which highlights effective cost control measures by management.
- Cautious Full-Year Outlook: Sportsman's Warehouse anticipates full-year EBITDA between $22 million and $26 million, reflecting a cautious stance towards future market conditions, particularly in light of heightened promotional activities.
See More
Sportsman's Warehouse Q4 Results Exceed Expectations
- Strong Sales Performance: Sportsman's Warehouse anticipates Q4 net sales of approximately $334.9 million and same-store sales of about $333.6 million, with adjusted EBITDA around $9.6 million, exceeding market expectations and demonstrating robust sales momentum in a competitive landscape.
- Market Share Gains: Although sales started softer in November and early December, the company experienced a sales acceleration in mid-Q4, particularly in the hunting and shooting sports category, outperforming adjusted NICS background check data, indicating market share gains in the firearms sector.
- Store Closure Plans: Following a review, Sportsman's Warehouse has identified about five underperforming stores for potential closure to enhance overall profitability, expecting impairment charges for FY25 primarily related to leasehold improvements and operating lease assets.
- Stock Price Surge: Shares of Sportsman's Warehouse rose 16.5% to $1.34 in trading, reflecting positive investor sentiment towards the company's performance, with the stock price fluctuating between $0.92 and $4.33 over the past 52 weeks, indicating market confidence in its future growth.
See More
SPORTSMAN'S WAREHOUSE HOLDINGS INC: Q4 IMPAIRMENT CHARGES ANTICIPATED, BUT NO EFFECT ON FY 2025 NET SALES OR ADJ EBITDA
Impairment Charges: Sportsman's Warehouse Holdings Inc. is expected to incur impairment charges in the fourth quarter.
Sales Impact: These impairment charges will not affect the company's net sales or adjusted EBITDA for fiscal year 2025.
See More
Sportsman's Warehouse Q4 2025 Earnings Call Highlights
- Sales Trend Recovery: Sportsman's Warehouse reported Q4 2025 net sales of $334.9 million, with comparable store sales down 1.8%; however, CEO Paul Stone noted this marks the first year of positive comps since 2020, representing a significant milestone in the company's turnaround efforts.
- Inventory Management Improvement: CFO Jennifer Fall Jung reported a year-end inventory reduction of $29.1 million, an 8.5% decrease, alongside net debt of $90 million and total liquidity of $107.8 million, indicating positive progress in cash flow management.
- Cautious Future Outlook: The CFO guided that same-store sales for 2026 are expected to range from down 1% to up 2%, with adjusted EBITDA projected between $30 million and $36 million, while planning to close approximately 5 underperforming stores in the next 12 months, with minimal impact anticipated on this year's results.
- Strategic Development Plans: The company aims to upgrade its loyalty rewards program, introduce firearm solution bundling, and reinvent the omnichannel fishing experience, with a goal to double its fishing market share over the next 3 to 4 years, demonstrating a strong commitment to growth in market share.
See More
Sportsman's Warehouse to Release Q4 Earnings
- Earnings Release Date: Sportsman's Warehouse Holdings is set to release its Q4 earnings on March 31, with investors keenly awaiting performance metrics to assess the company's future growth potential.
- Expected Loss: Analysts forecast a quarterly loss of 10 cents per share, indicating challenges the company faces in the current market environment, which may negatively impact stock prices.
- Revenue Estimate: The anticipated revenue for Q4 stands at $334.88 million, which, despite the expected loss, reflects a degree of sales stability that could lay the groundwork for future recovery.
- Market Reaction: Investors should closely monitor market reactions following the earnings release, particularly how the company addresses its current financial challenges and outlines future growth strategies.
See More
Sportsman's Warehouse Set to Announce Q4 Earnings
- Earnings Announcement Date: Sportsman's Warehouse (SPWH) is set to release its Q4 earnings on March 31st after market close, with consensus EPS estimate at -$0.10, reflecting a staggering 350% year-over-year decline, while revenue is projected at $334.88 million, down 1.6% year-over-year, indicating significant challenges ahead for the company.
- Historical Performance Review: Over the past two years, Sportsman's Warehouse has beaten EPS estimates 63% of the time and revenue estimates 75% of the time, demonstrating a degree of resilience in financial performance despite current downward pressures.
- Expectation Revision Dynamics: In the last three months, EPS estimates have seen four upward revisions and no downward adjustments, while revenue estimates experienced three upward revisions and one downward, indicating analysts' growing confidence in the company's future performance, even as overall expectations remain weak.
- Market Reaction: The stock price of Sportsman's Warehouse has surged significantly in Q4 due to strong firearm sales, reflecting market optimism regarding its financial results, which may influence investor decisions moving forward.
See More
Sportsman's Warehouse Reports Strong Q4 Sales
- Strong Sales Performance: Sportsman's Warehouse reported approximately $334.9 million in net sales for Q4, demonstrating robust demand and a stable customer base in the market compared to the previous year.
- Same-Store Sales Growth: Same-store sales reached approximately $333.6 million, indicating continued strong performance in existing stores and reflecting consumer loyalty and recognition of the company's products.
- Adjusted EBITDA Results: The company achieved an adjusted EBITDA of approximately $9.6 million, showcasing a degree of profitability despite increased promotional pressures, which highlights effective cost control measures by management.
- Cautious Full-Year Outlook: Sportsman's Warehouse anticipates full-year EBITDA between $22 million and $26 million, reflecting a cautious stance towards future market conditions, particularly in light of heightened promotional activities.
See More
Sportsman's Warehouse Q4 Results Exceed Expectations
- Strong Sales Performance: Sportsman's Warehouse anticipates Q4 net sales of approximately $334.9 million and same-store sales of about $333.6 million, with adjusted EBITDA around $9.6 million, exceeding market expectations and demonstrating robust sales momentum in a competitive landscape.
- Market Share Gains: Although sales started softer in November and early December, the company experienced a sales acceleration in mid-Q4, particularly in the hunting and shooting sports category, outperforming adjusted NICS background check data, indicating market share gains in the firearms sector.
- Store Closure Plans: Following a review, Sportsman's Warehouse has identified about five underperforming stores for potential closure to enhance overall profitability, expecting impairment charges for FY25 primarily related to leasehold improvements and operating lease assets.
- Stock Price Surge: Shares of Sportsman's Warehouse rose 16.5% to $1.34 in trading, reflecting positive investor sentiment towards the company's performance, with the stock price fluctuating between $0.92 and $4.33 over the past 52 weeks, indicating market confidence in its future growth.
See More
SPORTSMAN'S WAREHOUSE HOLDINGS INC: Q4 IMPAIRMENT CHARGES ANTICIPATED, BUT NO EFFECT ON FY 2025 NET SALES OR ADJ EBITDA
Impairment Charges: Sportsman's Warehouse Holdings Inc. is expected to incur impairment charges in the fourth quarter.
Sales Impact: These impairment charges will not affect the company's net sales or adjusted EBITDA for fiscal year 2025.
See More
