Business
Sportsman's Warehouse Holdings, Inc. Announces Financial Highlights for the Eight Week Period Ended December 25, 2021
WEST JORDAN, Utah, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Sportsman's Warehouse Holdings, Inc. ("Sportsman's Warehouse" or the “Company”) (Nasdaq: SPWH) today
About this update from Sportsman's Warehouse Holdings, Inc.
[{"type":"text","content":"WEST JORDAN, Utah, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Sportsman's Warehouse Holdings, Inc. (\"Sportsman's Warehouse\" or the “Company”) (Nasdaq: SPWH) today announced financial highlights for the eight weeks ended December 25, 2021. “I am extremely proud of our team and the execution of our business through the holiday season of 2021.” said Jon Barker, Sportsman’s Warehouse CEO. “Overall our business showed tremendous strength across all categories despite a difficult comparison in firearms and ammunition. As we put the terminated merger process with Great Outdoors Group, LLC behind us, we are excited about the future and growth potential of the Company.” For the eight weeks ended December 25, 2021: Net sales were $299.6 million, which was flat versus the comparable eight weeks of fiscal year 2020. Compared to the same eight-week period of fiscal year 2019, net sales increased 59.3% from $188.1 million. Same store sales decreased 6.1% during the eight weeks of fiscal year 2021 compared to the eight weeks of fiscal year 2020. Excluding firearms and ammunition same store sales increased 2.8% compared to the same eight-week period of fiscal year 2020. Compared to the same eight weeks of fiscal year 2019, same store sales increased 38.7%. Same store sales in the Footwear, Optics/Electronics/Accessories, and Clothing categories increased 15.7%, 6.7%, and 4.4%, respectively, compared to the eight weeks of fiscal year 2020. Ecommerce sales increased 2.5% compared to the same eight-week period of fiscal year 2020. Compared to the same eight-week period of fiscal year 2019, ecommerce sales increased approximately 200%. The Company opened three new stores, which were located in Chandler, AZ; Elk Grove, CA; and Greenwood, IN.The Company received $55 million from the termination of its merger agreement with Great Outdoors Group, LLC and recorded a one-time gain. Balance sheet highlights as of December 25, 2021: Cash on hand of $57.4 million, no long-term debt and $39.9 million outstanding under our revolving credit facility. Total liquidity of $216.1 million, which is comprised of our $57.4 million cash on hand plus $158.7 million available borrowing capacity under our revolving credit facility Fourth Quarter and Fiscal Year 2021 Outlook: For the fourth quarter of fiscal year 2021, the Company expects net sales and adjusted diluted earnings ...