Sportsman's Warehouse down as Q2 outlook disappoints

Sportsmans Warehouse Holdings

01/06/2022 14:28

** Shares in sporting goods retailer Sportsman's Warehouse
Holdings Inc  SPWH.O  fall ~9% to $8.65 premarket
    ** Company on Tuesday forecast Q2 sales and profit below
market estimates as the lack of stimulus benefits vs last year
cools demand  urn:newsml:reuters.com:*:nL4N2XN3KM
    ** SPWH expects Q2 same-store sales to fall 16%-10%; company
beats estimates for Q1 results
    ** Brokerage Piper Sandler trims PT on SPWH to $10 from $12,
while Craig-Hallum cuts to $15 from $25
    ** Despite the upbeat Q1, demand will likely remain
challenged, Piper Sandler says, noting SPWH is seeing a slowdown
in demand for big-ticket items such as pellet grills amid rising
inflation
    ** Remain cautious on the industry backdrop and consumer
spending environment in the near term - Piper Sandler analyst
Peter Keith
    ** As of last close, company's shares down ~20% YTD

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com))