Sportsman’s Warehouse reported second-quarter 2026 net sales of $295.6 million, increasing 0.6% year over year, while comparable sales were flat.
Hunting and Shooting Sports comparable sales increased 6.7%, led by firearms and ammunition, while Optics, Electronics, Accessories and Other increased 1%.
Gross profit increased to $96 million, with gross margin improving 50 basis points to 32.5%.
Net loss narrowed to $4.4 million from $7.1 million, while adjusted net loss improved to $3.1 million from $4.7 million.
Adjusted EBITDA increased to $8.7 million from $8.3 million, and adjusted loss per share improved to $0.08 from $0.12.
Sportsman’s Warehouse ended the quarter with $399 million of inventory, down $44.5 million, or approximately 10%, year over year.
Net debt declined by $26 million to $167 million, and total liquidity was $105 million.
The company reaffirmed full-year 2026 guidance for same-store sales ranging from a 1% decline to 2% growth and adjusted EBITDA of $30 million to $36 million.
Capital expenditures are expected to range from $20 million to $25 million, with no new store openings planned for the year.
KEY QUOTES:
“I was pleased with our second quarter performance, despite a challenging consumer environment. While our customers continue to be selective with discretionary spending, we are encouraged by the progress we are making to strengthen Sportsman’s Warehouse and position the business for long-term profitable growth. Our teams have moved with urgency to improve our value proposition, strengthen in-stocks, sharpen our assortment and localization, and deliver a better experience across our stores and digital channels, helping drive nearly 7% growth in our Hunting and Shooting Sports department during the quarter.”
Paul Stone, President and Chief Executive Officer of Sportsman’s Warehouse
“We made meaningful progress in the second quarter, with sales essentially flat, a 50-basis-point improvement in gross margin and continued disciplined management of expenses and inventory. Our inventory is down $44.5 million, or 10%, year over year, and we reduced net debt by $26 million while maintaining $105 million of liquidity.”
Jennifer Fall Jung, Chief Financial Officer of Sportsman’s Warehouse
