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NAT’L – RETAILERS – Sportsman’s Warehouse’s Q3 Results Show How to Do Sporting Goods Right

Sporting goods retailer Sportsman’s Warehouse’s (NASDAQ:SPWH) third-quarter earnings report showed that fully embracing all aspects of the outdoor recreation market can be a winning combination. While American Outdoor Brands, Dick’s Sporting Goods (NYSE:DKS), and Vista Outdoor are all running away from firearms, Sportsman’s Warehouse is deeply embracing them, and it’s paying off in higher sales across all of its segments. Sportsman’s Warehouse said third-quarter sales rose 8.7% to $242.5 million on a 4.8% increase in comparable-store sales, exceeding even the high end of management’s guidance for a range of 1.5% to 4.5% growth for the period. Comps grew in every category of the retailer’s operations, helping it record adjusted earnings of $0.25 per share, down $0.01 from the $0.26 per share it posted last year, but in line with analyst expectations. Fishing was the standout segment in Q3, with sales rising 9%, followed by clothing at 8.3% and camping at 6.8%. While firearms and ammunition brought up the rear with a combined 4.9% gain, it was a healthy increase for an industry that has been in a three-year-long slump. Firearms especially showed strength, with sales growing 3.9%, supported by an increase in the number of guns sold. The gun industry has been promotional to help lift itself out of the doldrums, and it’s beginning to work. FBI data shows the number of criminal background checks performed on gun buyers has been running at double-digit growth rates over last year, even when adjusted for checks on concealed carry permits of existing gun owners.  [full article]

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