Sportsman's Warehouse Holdings Inc. (SPWH) shares are climbing after the outdoor retailer reported first-quarter results that came in better than Wall Street feared. The company posted a narrower-than-expected loss and revenue that edged past estimates, giving investors a reason to celebrate.
For the quarter, Sportsman's Warehouse reported an adjusted loss of 39 cents per share, beating the consensus estimate of a 54-cent loss. Revenue came in at $256.08 million, above the $252.3 million analysts were looking for. Net sales rose 2.8% compared to the same period last year, when the company brought in $249.1 million.
The growth was fueled by a 7.4% jump in Hunting and Shooting Sports, driven by firearms, ammunition, and less-lethal personal protection products, with some additional event-driven demand. Fishing also performed well, rising 6% as customers stocked up for spring. Other categories declined, reflecting ongoing pressure on the U.S. consumer, the company noted.
“I’m pleased with our first quarter performance, as same store sales increased 2.1% compared to last year, despite continued consumer economic pressure and higher fuel prices,” said Paul Stone, CEO of Sportsman's Warehouse.
Investors seemed to agree. According to data from MarketDash, Sportsman's Warehouse stock climbed 10.56% to $1.57 in Tuesday's extended trading.
