SPWH

EX-99.PR120722

2 spwh-ex99_pr120722.htm

EX-99.PR120722

EX-99.PR120722

Exhibit 99.1

Sportsman’s Warehouse Holdings, Inc. Announces

Second Quarter 2026 Financial Results

Reduces year-over-year inventory by $44.5 million and year-over-year debt by $26 million

Reaffirms full-year 2026 Guidance

WEST JORDAN, Utah, September 1, 2026—Sportsman’s Warehouse Holdings, Inc. (“Sportsman’s Warehouse” or the “Company”) (Nasdaq: SPWH) today announced financial results for the thirteen weeks ended August 1, 2026.

“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,” said Paul Stone, President and Chief Executive Officer of Sportsman’s Warehouse. “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.”

“We enter the important fall and holiday seasons with our healthiest inventory position in years, more relevant merchandise, and a stronger balance sheet. While significant work remains, we are building momentum and remain confident in our plans for the second half of the year and our long-term opportunity to establish Sportsman's Warehouse as the leading retailer that combines national scale with local relevance.”

For the thirteen weeks ended August 1, 2026:

• Net sales increased 0.6% to $295.6 million, compared to $293.9 million in the second quarter of fiscal year 2025, while same stores sales in the quarter were flat. Same store sales performance was driven primarily by a 6.7% gain in Hunting and Shooting Sports, led by Firearms and Ammunition, with some additional event-driven demand. Same store sales in our Optics, Electronics, Accessories and Other department increased by 1.0%, compared with the second quarter of fiscal year 2025. Our other categories declined, reflecting continued pressure on the U.S. consumer, and drought conditions in the western U.S. pressuring the fishing department.

• Gross profit was $96.0 million, or 32.5% of net sales, compared to $93.9 million, or 32.0% of net sales, in the second quarter of fiscal year 2025. The increase, as a percentage of sales, was primarily due to more disciplined inventory management reducing overall freight expense and a one-time tariff benefit, partially offset by category mix shift.

• Selling, general, and administrative (“SG&A”) expenses were $97.1 million, or 32.9% of net sales, compared to $97.2 million, or 33.1% of net sales, in the second quarter of fiscal year 2025. The decrease in SG&A expenses was primarily driven by decreased depreciation expense.

• Net loss was $(4.4) million, compared to a net loss of $(7.1) million in the second quarter of fiscal year 2025. Adjusted net loss was $(3.1) million compared to an adjusted net loss of $(4.7) million in the second quarter of fiscal year 2025 (see “Non-GAAP and Other Financial Measures”).

• Adjusted EBITDA was $8.7 million, compared to $8.3 million in the second quarter of fiscal year 2025 (see “Non-GAAP and Other Financial Measures”).

• Diluted loss per share was $(0.11) compared to a diluted loss per share of $(0.18) in the second quarter of fiscal year 2025. Adjusted diluted loss per share was $(0.08) compared to adjusted diluted loss per share of $(0.12) in the second quarter of fiscal year 2025 (see “GAAP and Non-GAAP Financial Measures”).

For the twenty-six weeks ended August 1, 2026:

• Net sales were $551.7 million, an increase of 1.6%, compared to the first six months of fiscal year 2025. The net sales increase was primarily due to increased sales in our Hunting and Shooting Sports department led by firearms and ammunition, with some additional event-driven demand. Additionally, sales in our Fishing department are up nearly 1%. This increase led to a same store sales increase of 1.0% compared to the first six months of fiscal year 2025.

• Gross profit was $171.8 million or 31.1% of net sales, compared to $169.6 million or 31.2% of net sales for the first six months of fiscal 2025. This decrease, as a percentage of net sales, was primarily due to unfavorable department level mix and rates, partially offset by lower freight from improved inventory management and a one-time tariff benefit.

• SG&A expenses decreased to $191.0 million or 34.6% of net sales, compared with $192.4 million or 35.4% of net sales for the first six months of fiscal year 2025, due to a decrease in depreciation expense, partially offset by increases in rent and other operating expenses.

• Net loss was $(26.3) million, compared to net loss of $(28.3) million in the prior year period. Adjusted net loss was $(18.2) million,

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