Sportsman's Warehouse reports preliminary fiscal 2025 results

Sportsman's Warehouse Holdings Inc (NASDAQ: SPWH) announced preliminary financial results for the fourth quarter and fiscal year ended January 31, 2026.

For the fourth quarter, the company expects net sales of approximately $334.9 million and same store sales of approximately $333.6 million. Adjusted EBITDA is projected at approximately $9.6 million.

For the full fiscal year, net sales are expected to reach approximately $1.209 billion, representing a 1.0% increase compared to the prior year. Same store sales are projected at approximately $1.206 billion, also up 1.0% year-over-year. Full-year adjusted EBITDA is expected at approximately $27.5 million.

The company reported net debt of approximately $90.0 million, a decrease of 6.1%, and ending inventory of approximately $312.9 million, down $29.1 million or 8.5% compared to the prior year. Total liquidity is expected at approximately $107.8 million, with free cash flow projected at approximately $7.6 million for the full year.

Sportsman's Warehouse identified approximately five stores for potential closure due to underperformance and lack of profitability. The company expects to incur impairment charges related primarily to leasehold improvements and operating lease assets, with additional charges possible if stores are closed.

"I am pleased to report that our preliminary fourth quarter and full year results exceeded our expectations," said Paul Stone, Chief Executive Officer. "2025 marks the first year since 2020 where we have achieved positive same store sales growth for the full year."

The company plans to report complete fourth quarter and fiscal year 2025 results on March 31, 2026. These preliminary results are subject to completion of year-end accounting procedures and may differ from final audited results.

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