Acquisitions help Sportsman’s Warehouse confound Wall Street
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Strong performances from its eight newly acquired Field & Stream stores helped Sportsman’s Warehouse Holdings – a top US supplier of fishing tackle – beat Wall Street predictions to deliver a 6.4% increase in sales in its fourth quarter.
The company posted net sales of $258.2m compared to $242.7m in the comparable period last year. “We are pleased with our fourth quarter and fiscal year 2019 results,” said Jon Barker, group CEO.
“Despite some minor challenges in December, we exceeded the high-end of our updated outlook on net sales. We made great progress in 2019 executing on our growth initiatives, which included enhancing our omni-channel platform, improving our loyalty programme, and broadening our firearms products and services offering.
“Last year we grew to 103 stores through our acquisition of eight Field & Stream outlets in October and three additional store openings earlier in the year.
“Looking forward to 2020, we feel very good about our competitive positioning and the underlying strength of our business. We are also announcing two additional stores for 2020, which increases our new store announcements to seven for the year so far.
“These seven include two previous Gander locations, two more Field & Stream locations and our first small-format concept store.
“We have gained significant momentum both online and in store to date in Q1. We believe this is driven by fewer competitors, the current election cycle and increased demand from COVID-19 uncertainty. Because of significant uncertainty in the current environment, we will not be issuing forward guidance at this time.”
For the 52 weeks ended February 1, 2020, net sales increased 4.4% to $886.4m compared to $849.1m.