Sportsman's Warehouse Holdings, Inc. · NASDAQ:SPWH
Sportsman's Warehouse — Q1 2020 Earnings Presentation
14 slides from Sportsman's Warehouse's earnings presentation, Jun 4, 2020
Slide 1: First Quarter 2020 Earnings Conference Call
FIRST QUARTER 2020 EARNINGS CONFERENCE CALL June 4, 2020
Slide 2: Forward Looking Statements and Non-GAAP Measures
FORWARD LOOKING STATEMENTS AND NON-GAAP MEASURES This presentation 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-
Slide 3: Company & Strategic Overview
COMPANY & STRATEGIC OVERVIEW Jon Barker Chief Executive Officer
Slide 4: COVID-19 Update
COVID-19 UPDATE ▪ Majority of stores remained open during Q1 to serve our customers ▪ Protected health and safety of associates and customers – Enhanced cleaning and sanitizing – Limited number of customers in stores to ensure social distancing – Supplied face masks to all stores and distribution ce
Slide 5: Strong Net Sales in Q1 with Surge in Firearms and Ammo
STRONG NET SALES IN Q1 WITH SURGE IN FIREARMS AND AMMO Financial Results Q1 2020 Q1 2019 YOY Var ($) YOY Var (%) Net Sales ($ in millions) $247 $174 $73 42% Same Store Sales Growth 29% (6)% NA NA ▪ Net Sales growth of 42% in Q1 driven primarily by three factors: – COVID-19 situation – Gaining market
Slide 6: Omni-Channel Growth
OMNI-CHANNEL GROWTH HIGHLIGHTS U.S. FOOTPRINT ▪ Massive growth in online sales – Social distancing and stay-at-home orders drove traffic online – Prior investments in our eCommerce platform enabled us to capitalize on surge in demand ▪ Plan to open 5 to 7 new stores in 2020 – Opened 3 new Sportsman’
Slide 7: In Summary
IN SUMMARY 01 02 03 04 05 Significant momentum Near-term: The Medium-term: Long-term: Uniquely Continuing to make in our core business in upcoming election Significant uncertainty positioned to capitalize progress on our Q1 cycle is a potential in the macro-economic on market share strategic growth
Slide 8: Financial Results & Commentary on 2020
FINANCIAL RESULTS & COMMENTARY ON 2020 Robert Julian Chief Financial Officer
Slide 9: First Quarter 2020 Financial Results
FIRST QUARTER 2020 FINANCIAL RESULTS Massive Net Sales and Adjusted EPS Growth in First Quarter of 2020 Compared to PY FIRST QUARTER 2020 EARNINGS CONFERENCE CALL 9
Slide 10: Balance Sheet Increasingly an Area of Strength
BALANCE SHEET INCREASINGLY AN AREA OF STRENGTH BALANCE SHEET HIGHLIGHTS (as of end of quarter) ($M) Q1 20 Q1 19 YoY ∆ Inventory Per Store Total Liquidity $82.4 $41.0 +101% Cash Plus Availability on Revolving Credit Facility Down 10% YoY Merchandise Inventories $300.9 $291.5 +3% Total Assets $662.3 $
Slide 11: Fiscal Year 2020 Commentary
FISCAL YEAR 2020 COMMENTARY ▪ Stores: 5-7 new Sportsman’s Warehouse stores ▪ Gross margin – Pressure due to the following factors: • Unfavorable product mix (firearms and ammunition); and • Unfavorable channel mix (increased sales via eCommerce platform) – Partially offset by more full-price sales a
Slide 12: Appendix
APPENDIX
Slide 13: Non-GAAP to GAAP Reconciliation Table (1 of 2)
NON-GAAP TO GAAP RECONCILIATION TABLE (1 OF 2) FIRST QUARTER 2020 EARNINGS CONFERENCE CALL 13
Slide 14: Non-GAAP to GAAP Reconciliation Table (2 of 2)
NON-GAAP TO GAAP RECONCILIATION TABLE (2 OF 2) FIRST QUARTER 2020 EARNINGS CONFERENCE CALL 14
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