Sportsman's Warehouse plunges on Q3 loss, lower revenue

Sportsmans Warehouse Holdings

07/12/2023 15:10

** Shares of sporting goods retailer Sportsman's Warehouse
 SPWH.O  fall ~19% to $4.31 after Q3 loss and lower revenue 
    ** Stock on pace for biggest one-day pct. decline in about
three months if current losses hold
    ** Co on Wednesday reported a Q3 loss of 4 cents/shr
compared with profit of 33 cents/shr last year, hit by reduced
product margins and increased promotions
    ** Co's revenue falls 5.3% to $340.6 mln from last year, and
same-store sales decrease 11.4% as store traffic weakens amid
inflationary pressures on discretionary spending 
    ** Stock was down nearly 43% this year

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com;))