Sportsman’s Warehouse enjoys strong start to year prior to takeover
Sportsman’s Warehouse, which is in the process of being acquired by Bass Pro Shops owner, The Great Outdoors Group, has made a strong start to the financial year.
The US chain store retailer reported a same-store sales increase of 24% over the same period last year as it continued to capitalise on the rise in outdoor participation.
Net sales for the quarter totaled $327 million, an $80.3 million increase, or 32.5%, on last year, with strong growth from the company’s e-commerce platform. Gross profit was $104 million (31.8% of net sales), compared to $74.8 million (30.3%) last year – a year-over-year increase of $29.3 million. Net income was $10.5 million compared to a net loss of $1.1 million in 2020. Headquartered in Utah, Sportsman’s Warehouse has more than 100 stores in 27 states.