Published on 5 Dec 2023 on GuruFocus.com via Yahoo Finance
Sportsman's Warehouse Holdings Inc (SPWH) Reports Decline in Q3 Sales and Earnings Amid ...
Net sales decreased by 5.3% in Q3 2023 compared to the same period last year.Gross profit margin contracted by 330 basis points year-over-year in Q3.Adjusted diluted loss per share was $(0.01) for Q3 2023, compared to adjusted diluted earnings per share of $0.34 in Q3 2022.Company anticipates aggressive promotional activities to continue in Q4, affecting gross margins.
Warning! GuruFocus has detected 11 Warning Signs with SPWH.
On December 6, 2023, Sportsman's Warehouse Holdings Inc (NASDAQ:SPWH) released its 8-K filing, detailing its financial results for the third quarter of the fiscal year 2023. The company faced a challenging quarter, with net sales falling to $340.6 million, a 5.3% decrease from the previous year's $359.7 million. This decline was attributed to consumer inflationary pressures and recessionary concerns, which dampened discretionary spending and led to lower store traffic and demand across most product categories.