Sportsman’s Warehouse: Another favorable earnings report

Second quarter sales for Sportsman’s Warehouse increased more than 6 percent, the outdoor retailer announced this week. Chief Executive Officer Jon Barker credited the company’s “convenient shopping experience, breadth of assortment and category expertise” for fueling continued sales growth in an industry plagued with volatility.

The retailer reported $203.3 million in sales for the 13 weeks ending Aug. 4, according to regulatory filings published Thursday. Overall sales for the year remain 10 percent above 2017, grossing $383.3 million over the last 26 weeks.

The favorable second quarter results follow a sales boom for the retailer after corporate backlash against the gun industry sent customers flocking into their stores, top executives told investors in May.

“There is clearly a combination of pull forward that happened in quarter one and market share gains,” said Kevan Talbot, the retailer’s chief financial officer. “We can see it in specific regions where we compete against some of the competitors who have made changes. We’re hearing it from our customers on a daily basis.”

Sportsman’s Warehouse assured investors in April there’s no plans to follow in the footsteps of other retailers — namely Dick’s Sporting Goods — by imposing restrictions on gun sales over and above federal law. Dick’s, Walmart, Kroger and L.L. Bean all implemented age restrictions on gun sales after the Parkland shooting, while major financial institutions moved to cut ties with the gun manufacturers.

“As far as a Sportsman’s Warehouse changing their policies around regulated materials, we are continuing to monitor the situation and have ongoing conversations to make sure we understand what’s happening in the political arena and regulation,” Barker said. “But we continue to support the lawful sale of firearms under the Second Amendment rights of our customer and at this point we have no intent or plan to change the way that we approach that.”

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