Sportsman's Warehouse slides on downbeat Q2 forecast

Sportsmans Warehouse Holdings

31/05/2022 22:45

** Shares of sporting goods retailer Sportsman's Warehouse
Holdings Inc  SPWH.O  down ~3% at $9.15 after the bell
    ** Company forecast Q2 sales and adjusted profit below
estimates
    ** SPWH expects Q2 sales between $330 mln and $350 mln,
compared to analysts' average estimate of $357.6 mln, per
Refinitiv data  urn:newsml:reuters.com:*:nASA03DXR
    ** Company forecasts Q2 adjusted profit of 22 cents to 30
cents per share, below estimates of 32 cents 
    ** However, SPWH beat Q1 sales and adjusted profit
estimates, but Q1 same-store sales growth decreased by 11.6% 
    ** Company says sales decrease was primarily due to lower
demand across product categories as it anniversaried the
increased demand during Q1 2021, driven by the economic stimulus
package  urn:newsml:reuters.com:*:nGNX2j6yMs
    ** Up to Tuesday's close, stock had fallen ~20% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))